21.025: Small Dollar Loan Program
Alternate Name: SDL Program
Overview
Program Number
21.025
Status
Active
Last Modified
Aug. 9, 2022
Date Posted
Aug. 9, 2022
Objective
To provide grants for Loan Loss Reserves to enable: (1) 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 defray the costs of a small dollar loan program established or maintained by such institution; and (2) to provide grants for Technical Assistance to a Certified CDFI or any partnership between or among Certified CDFIs to establish and maintain small dollar 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.
Type of Assistance
B - Project Grants
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.
Beneficiary Eligibility
Not Applicable
Additional Information
Federal Award Analysis
Small Dollar Loan Program grant spending
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Contracts
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Subcontracts
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Grants
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Subgrants
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Total
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Grant Awards
Small Dollar Loan Program direct grants
Grant Opportunities