Franklin Bancshares, Inc.

Franklin Bancshares, Inc. is a for-profit corporate entity registered in SAM.gov, located in Meadville, Mississippi, with a primary focus on community development financial services. The organization is specifically categorized as a Community Development Financial Institution (CDFI), which enables it to provide financial products and services to underserved and low-income communities across the United States. As a registered financial institution, Franklin Bancshares, Inc. operates with a mission of economic revitalization and community development, targeting rural and urban areas that lack adequate access to affordable financial services.

Through federal grant awards from the U.S. Department of the Treasury's Community Development Financial Institutions Fund, Franklin Bancshares, Inc. has received substantial project grants to build its organizational capacity and expand financial services. Its most recent grant, awarded on September 26, 2024, was an $835,000 project grant aimed at investing in and building the institution's capacity to drive economic revitalization, particularly in Native American communities nationwide. Previous grants, such as the $476,530 award from December 8, 2021, have supported the organization's provision of financial products, financial services, development services, loan loss reserves, and capital reserves to eligible markets. The grants specifically enable Franklin Bancshares, Inc. to offer affordable financial access, create jobs, build businesses, and foster economic self-determination in underserved communities. The funding is structured as project grants under CFDA 21.020, with performance periods typically ranging from two to three years, demonstrating a consistent commitment to long-term community financial development.