Today the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 397 Community Development Financial Institutions (CDFIs) $204.1 million in awards. The awards, through the fiscal year (FY) 2020 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), will enable CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation.
NDC’s small business lending arm, Grow America Fund, Inc. (GAF), is the recipient of a $557,000 CDFI Financial Assistance (FA) award. These funds will be used to increase GAF’s lending capacity to healthy and growing small businesses in communities served by NDC throughout the United States. NDC’s Grow America Fund was one of 230 organizations selected from 377 applicants to receive allocations totaling $127 million by the CDFI Fund.
Read full release HERE: https://www.cdfifund.gov/news-events/Pages/news-detail.aspx?NewsID=394&Category=Press%20Releases