The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program awarded a $1,110,000 Project Grant to Cooperativa De Ahorro Y Credito De Lares, a certified CDFI in Puerto Rico. The grant funding, awarded on September 26, 2024, will be used by the organization to provide financial products, financial services, development services, loan loss reserves, and capital reserves to low-income and underserved communities that lack adequate access to affordable financial services. The goal of this CFDA 21.020 program is to promote economic revitalization and community development by investing in and assisting CDFIs to build their financial capacity and serve their target markets. Cooperativa De Ahorro Y Credito De Lares, a non-profit organization, plans to utilize the grant funding over the project period ending on December 31, 2027 to expand access to affordable financial products and services, particularly in rural and low-income areas.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $1.1m | 9/26/24 |