The Genesis Fund received a $1.8 million Project Grant award from the Department of the Treasury's Community Development Financial Institutions Fund under the Community Development Financial Institutions Rapid Response Program (CDFI RRP, CFDA 21.024). The award period is from June 15, 2021 through March 31, 2024 to support the ability of Community Development Financial Institutions to respond to the economic impacts of the coronavirus pandemic. As a Community Development Financial Institution...
This Project Grant award of $1,250,000 from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program (CFDA 21.020) was made to Genesis La Economic Growth Corporation, a certified CDFI, on September 26, 2024. The funding is intended to promote economic revitalization and community development through investment in and financial assistance to CDFIs. The grant will enable Genesis La Economic Growth Corporation to build its financial capacity to lend to...
The federal Project Grant award of $230,212, provided by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under the Bank Enterprise Award (BEA) Program (CFDA 21.021), supports Genesis Bank, a for-profit CDFI located in Benoit, Mississippi. The funding will enable Genesis Bank to expand its investments and support to certified CDFIs, as well as increase its lending, investing, and service-related activities in the most economically distressed...
The Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded Genesis LA Economic Growth Corporation $1,826,265 under the Community Development Financial Institutions Rapid Response Program (CDFI RRP, CFDA #21.024) from June 15, 2021 through December 31, 2023. The CDFI RRP aims to support Community Development Financial Institutions' (CDFIs) ability to address the economic impacts of the coronavirus pandemic in their communities. Genesis LA will utilize...
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program awarded a $900,000 Project Grant to Coastal Enterprises, Inc. (CEI), a non-profit CDFI based in Brunswick, Maine. The purpose of the grant is to promote economic revitalization and community development by providing financial and technical assistance to CEI, enabling it to build its capacity to deliver affordable financial products and services to low-income and underserved populations. The...
The Department of the Treasury's Community Development Financial Institutions Fund awarded a $1.5 million Project Grant to Genesis La Economic Growth Corp on February 22, 2021 under the Capital Magnet Fund program (CFDA 21.011). The Capital Magnet Fund aims to create and preserve affordable housing for low-income families, individuals, and economically distressed communities by attracting private capital. Genesis La Economic Growth Corp will use the grant to support financing that furthers...
This Project Grant award of $1,110,000 was provided 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 funding is intended to promote economic revitalization and community development by providing financial assistance to the awardee, Grant Bancshares, Inc., a for-profit community development corporation. The financial assistance must be used by Grant Bancshares, Inc. for financial...
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program awarded a $625,000 Project Grant to Cape & Islands Community Development, Inc. on September 26, 2024. The grant funds are to be used by the non-profit community development corporation to promote economic revitalization and community development through investment in and financial assistance to CDFIs. Specifically, the grant requires the funds to be used for financial products, financial...
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program awarded a $300,000 Project Grant to the Initiative Foundation Impact Fund on November 21, 2024. The purpose of this grant is to promote economic revitalization and community development through technical assistance to build the capacity of certified and emerging CDFIs. The planned activities under this grant include compensation for personnel services, fringe benefits, professional services, travel,...
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program awarded a $1,285,000 Project Grant to Sustainable Neighborhoods LLC on September 26, 2024. The purpose of this grant is to promote economic revitalization and community development through financial assistance to CDFIs. The funding must be used by Sustainable Neighborhoods LLC for financial products, financial services, development services, loan loss reserves, and capital reserves in order to build...