The Department of the Treasury's Community Development Financial Institutions (CDFI) Program awarded a $619,000 project grant to River City Capital Investment Corp., a minority-owned community development financial institution, on September 26, 2024. The grant funding is being used to invest in and build the capacity of River City Capital Investment Corp., empowering it to grow, achieve organizational sustainability, and drive community revitalization through the delivery of financial products, services, loans, investments, and technical assistance to underserved communities and small businesses, with a particular focus on low- and moderate-income areas disproportionately impacted by crises like the COVID-19 pandemic. This aligns with the CDFI Program's objective to promote economic development and community revitalization in target markets through investments in certified CDFIs.
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