Project Grant 241BE066472G

Award Date 9/19/24
Completion Date 12/31/25
Dollars Obligated $280K
Federal Grant Program
21.021
Assistance Type
Project Grant
Place of Performance
United States
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The $280,369 Bank Enterprise Award (BEA) Program grant awarded by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund on September 19, 2024 to Bankplus, a for-profit FDIC-insured depository institution, supports the following activities:

Bankplus will use the grant funding to increase its investments and support to certified Community Development Financial Institutions (CDFIs), as well as expand its lending, investing, and service-related activities in the most economically distressed communities. Key activities include providing financial assistance and technical assistance to CDFIs through equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of support. Bankplus will also increase its levels of loans, investments, service activities, and technical assistance to residents and businesses in the most economically distressed communities. The goal is to demonstrate increased investments in and support for CDFIs, as well as greater lending, investing, and service-related activities in underserved areas.

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