Genesis Bank

Genesis Bank is a for-profit Community Development Financial Institution (CDFI) registered in SAM.gov, located in Benoit, Mississippi. The bank specializes in providing financial services and lending to low- and moderate-income communities, with a focus on expanding access to capital and financial products in economically distressed areas. As a certified CDFI, Genesis Bank has demonstrated a consistent commitment to supporting underserved populations through targeted financial initiatives and strategic community development efforts.

Over the past several years, Genesis Bank has received multiple federal grant awards from the U.S. Department of the Treasury's Community Development Financial Institutions Fund, totaling over $8.4 million. These grants have supported various critical programs, including the Bank Enterprise Award (BEA) Program, Equitable Recovery Program (ERP), Small Dollar Loan Program, and Rapid Response Program. Specifically, the bank has used these federal funds to expand lending capabilities, provide technical assistance, and offer tailored financial products to low-income populations impacted by economic challenges such as the COVID-19 pandemic. The grants have enabled Genesis Bank to provide approximately $6.2 million in loans, grants, and investments to underserved borrowers, with a particular emphasis on helping minorities and communities with significant unmet capital or financial service needs. The bank's grant-funded activities include establishing small dollar loan programs, creating loan loss reserves, acquiring organizational capacity tools, and delivering targeted financial services to economically vulnerable populations.