Project Grant 241FA064961G

This $1,860,000 Project Grant was awarded on September 26, 2024 by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under the CDFI Program (CFDA 21.020). The purpose of the grant is to promote economic revitalization and community development by providing financial and technical assistance to the awardee, Peoples Bancshares, Inc., a certified CDFI focused on serving low-income and underserved populations. The grant funds will be used by Peoples Bancshares, Inc. to build its financial capacity to deliver affordable financial products, financial services, development services, loan loss reserves, and capital reserves in eligible markets and target communities that lack adequate access to such resources. The goal is for Peoples Bancshares, Inc. to leverage this funding to expand its reach and impact in driving economic self-determination and community growth, particularly in rural and urban low-income areas and Native American regions across the United States.