The Milwaukee Economic Development Corporation (MEDC) was awarded a $1,373,391 Project Grant by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program on September 26, 2024. The CDFI Program uses monetary awards and training opportunities to invest in and build the capacity of CDFIs, empowering them to grow, achieve organizational sustainability, and drive community revitalization.
Through this grant, MEDC, a CDFI and nonprofit community development corporation, will utilize the funding to expand its lending, investment, and technical assistance activities to support small and medium-sized businesses, particularly in underserved communities in the Milwaukee region that have been disproportionately impacted by COVID-19. The award aims to create jobs, build businesses, and foster economic self-determination in these communities. This funding is part of the CDFI Fund's Equitable Recovery Program and Rapid Response Program, which provide grants to CDFIs to boost their organizational capacity and community development efforts during the pandemic.
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