The Project Grant award of $625,000 from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program to the Chicago Community Loan Fund, a non-profit CDFI, will support the organization's efforts to drive economic revitalization and community development in underserved communities. The grant, awarded on September 26, 2024, will enable the Chicago Community Loan Fund to expand access to capital, financial services, and capacity-building support for minority-owned businesses, affordable housing developers, and non-profits operating in disadvantaged areas, especially those impacted by COVID-19. The funding will be utilized to finance job creation, business growth, affordable housing, and community facility projects, while also building the organization's own sustainability as a CDFI. This award is part of the CDFI Program's ongoing commitment to investing in and assisting certified and emerging CDFIs, which are designed to promote economic development in underserved communities.
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