The federal Project Grant award of $1,110,000 was provided by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program (CFDA 21.020) to Carter Fed Credit Union, a certified CDFI and non-profit community development corporation. The grant aims to invest in and build the capacity of CDFIs to grow, achieve sustainability, and drive community revitalization, particularly in underserved Native American communities. Utilizing the funding, Carter Fed Credit Union will provide critical financial services, loans, investments, and technical assistance to support job creation, business development, and economic self-determination. This includes establishing small business loan programs, creating loan loss reserves, delivering technical assistance, and expanding lending capabilities in low-income areas. The grant award period extends from September 2024 to December 2027.
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