Cooperativa De Ahorro Y Credito Las Piedras

Cooperativa De Ahorro Y Credito Las Piedras, doing business as Cooperativa Ahorro Y Credito Las Piedras, is a minority-owned, non-profit organization registered as a Corporate Entity (Tax Exempt) with the U.S. federal government. As a Community Development Financial Institution (CDFI), it primarily serves low- and moderate-income communities, focusing on providing affordable financial products and services to underserved populations. The organization specializes in offering alternatives to high-cost small dollar loans, helping unbanked and underbanked individuals build credit, access affordable capital, and gain greater access to the mainstream financial system. Cooperativa De Ahorro Y Credito Las Piedras has been actively engaged in federal grant programs since at least 2021, with its current registration in SAM.gov set to expire in March 2025.

The organization has received several significant federal grant awards from the U.S. Department of the Treasury's Community Development Financial Institutions Fund. These include a $376,325 Project Grant under the Small Dollar Loan Program (CFDA 21.025) in April 2024, which enables the establishment and maintenance of a small business loan program. In April 2023, they were awarded a $3.7 million Project Grant through the CDFI Equitable Recovery Program (CFDA 21.033) to expand lending, grant-making, and investment activities in communities disproportionately impacted by the COVID-19 pandemic. Additionally, in September 2021, the organization received a $125,000 Project Grant under the Community Development Financial Institutions Program (CFDA 21.020) for technical assistance to build organizational capacity. These grants support various activities, including creating loan loss reserves, providing technical assistance, expanding financial services, and strengthening the organization's ability to serve its target markets in both rural and urban low-income communities.