Small Dollar Loan Program
Active
- Assistance listing
- 21.025
- Agency
-
Community Development Financial Institutions Fund
Department of the Treasury
- Grant awards
- 184 $39,103,051 in federal obligations
Program facts
- Also known as
- SDL Program
- Assistance type
-
- Project Grant
- Treasury account
-
- 20-1881-0-1-451
- More information
Program details come from SAM.gov Assistance Listings. Updated . Grant award figures come from USAspending.gov.
About this program
The Department of the Treasury Community Development Financial Institutions Fund awards Project Grants under the Small Dollar Loan Program (CFDA 21.025) to support certified CDFIs in establishing loan-loss reserve funds and providing technical assistance for small dollar lending programs, with the most recent awards issued on April 16, 2024.
The program funds two specific activities: loan-loss reserves that enable CDFIs or partnerships between CDFIs and federally insured depository institutions to establish or maintain small dollar loan programs, and technical assistance covering technology, staff support, and other eligible activities to help CDFIs establish and operate these programs. Critically, SDL Program grants cannot be used to provide direct loans to consumers; instead, the program targets unbanked and underbanked populations by creating infrastructure for affordable lending alternatives to high-cost loans. Awards must be deployed within three years of execution and are evaluated on applicant financial strength and organizational capacity, business strategy, and community impact.
The program operates exclusively through Project Grants; all 184 awards in the portfolio are structured this way. The Department of the Treasury Community Development Financial Institutions Fund is the sole funding source, accounting for all $39.1 million in combined federal obligations across 184 awards issued since September 2021. Award volume has remained consistent, with 52 awards in 2021, 66 in 2022, and 66 in 2024. Individual award magnitudes cluster in the $200 thousand to $383 thousand range, though some awards are smaller at $112 thousand to $157 thousand.
Recent awards from April 2024 demonstrate the program's active funding: Project Grant 24SDL064136G ($383,223), Project Grant 24SDL064263G ($383,223), and Project Grant 24SDL064070G ($383,223) all supporting CDFIs to expand small dollar lending capacity. Eligible applicants are nonprofit organizations, for-profit organizations, federally insured depository institutions, and federally insured credit unions that hold CDFI certification. Recipients must maintain records of all costs and performance measures in accordance with OMB guidance and assistance agreement terms.
No recent grant opportunities are currently posted in the source; the most recent opportunity on record is CDFI-2021-SDL (due June 29, 2021). The program historically operates on an annual solicitation cycle with approximately 60 days between Notice of Funding Availability publication and application deadline, and award determinations within 180 days thereafter. Organizations interested in pursuing funding should monitor the CDFI Fund for the next NOFA announcement.
Objective and description
- Objective
Through the Small Dollar Loan Program, the CDFI Fund provides (1) grants to enable a certified Community Development Financial Institution (CDFI) or any partnership between a certified CDFI and federally insured depository institution, with a primar
- Description
The Small Dollar Loan Program provides grants for loan loss reserves and technical assistance to enable CDFIs to establish and maintain small business loan programs. SDL Program grants cannot be used to provide direct loans to consumers. This program is intended to provide an alternative to high-cost small dollar loans, as well as help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream financial system.
Eligibility
- Applicant eligibility
Nonprofit Organizations, For Profit Organizations and Other Private Institutions/Organizations in the form of federally insured depository institutions, or federally-insured credit unions that are certified CDFIs.
- Uses of assistance
Through the Small Dollar Loan Program, the CDFI Fund provides (1) grants to enable a certified Community Development Financial Institution (CDFI) or any partnership between a certified CDFI and federally insured depository institution, with a primary mission to serve targeted Investment Areas, to establish a loan-loss reserve fund in order to cover the losses on small dollar loans from a new small dollar program or an existing small dollar loan program; and (2) grants for Technical Assistance to a certified CDFI or any partnership between or among certified CDFIs to establish and maintain small dollar loan programs. Small Dollar Loan Program grants cannot be used to provide direct loans to consumers. This program is intended to provide an alternative to high-cost small dollar loans, as well as help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream financial system.
- Length and time phasing of assistance
Funds must be used within three years of executing an Assistance Agreement and must be used for Small Dollar Loan Program authorized activities set forth in the applicable NOFA.
How to apply
- Criteria for selecting proposals
Evaluation factors include: (1) financial strength and organizational capacity of applicant, (2) business strategy review, (3) community impact, and (4) other factors set forth in the Small Dollar Loan Program NOFA and application materials.
- Award procedure
The CDFI Fund reviews applications and makes awards based on an established awards review process, set forth in the NOFA and application materials.
- Time to approval or disapproval
The application deadline is approximately 60 days subsequent to the NOFA publication date. Award approval/disapproval determinations may be made within approximately 180 days after the application deadline.
Grant opportunities
| Opportunity | Status | Posted | Applications due |
|---|---|---|---|
| Fiscal Year 2021 Small Dollar Loan Program | Closed |
Grant awards
Latest 10 of 184 listed here. See the rest on GovTribe.
Top recipients by federal obligations
| Rank | Recipient | Federal obligations | Share |
|---|---|---|---|
| 1 | University Financial Corp, GBC DBA Sunrise Banks | $935,211 | 2% |
| 2 | Great Rivers Community Capital, Inc. | $797,763 | 2% |
| 3 | Cani's Center For Community And Economic Development, Inc. | $663,223 | 2% |
| 4 | Seattle Metropolitan Credit Union | $663,223 | 2% |
| 5 | Checkspring Community Corporation | $661,802 | 2% |
| 6 | Finest Federal Credit Union | $655,211 | 2% |
| 7 | Economic Empowerment Center | $639,882 | 2% |
| 8 | Community Lendingworks | $620,936 | 2% |
| 9 | Freedom First Federal Credit Union | $611,960 | 2% |
| 10 | FBT Bank & Mortgage | $581,506 | 1% |
10 of 149 recipients listed here. See the rest on GovTribe.
Federal obligations by fiscal year
| Fiscal year | Federal obligations |
|---|---|
| FY2026 | -$100,899 |
| FY2024 | $17,475,950 |
| FY2023 | -$271,988 |
| FY2022 | $11,163,259 |
| FY2021 | $10,836,729 |
Quick answers
What is Assistance Listing 21.025?
Assistance Listing 21.025 is Small Dollar Loan Program, a federal grant program run by Community Development Financial Institutions Fund (Department of the Treasury).
What is the CFDA number for Small Dollar Loan Program?
Its CFDA number is 21.025: Assistance Listing numbers were called CFDA numbers before 2018.
How much funding has Assistance Listing 21.025 awarded?
184 grant awards under 21.025 have obligated $39,103,051 in federal funds to 149 recipients.
Who receives the most funding from 21.025?
The recipients obligated the most under Small Dollar Loan Program are University Financial Corp, GBC DBA Sunrise Banks ($935,211), Great Rivers Community Capital, Inc. ($797,763) and Cani's Center For Community And Economic Development, Inc. ($663,223).
Are there open grant opportunities under 21.025?
No opportunity listed under 21.025 is open now. The latest, Fiscal Year 2021 Small Dollar Loan Program, was posted on April 28, 2021.
On GovTribe
See this program's full record
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