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Fiscal Year 2024 Small Dollar Loan Program

ID: CDFI-2024-SDL • Type: Posted

Description

Through the Small Dollar Loan Program (SDL Program), the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awards grants to Certified CDFIs to establish and expand small dollar loan programs and provide alternatives to high-cost small dollar loans. Certified CDFIs will use award funds to help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream financial system.

Overview

Category of Funding
Community Development
Funding Instruments
Grant
Grant Category
Discretionary
Cost Sharing / Matching Requirement
False
Source
On 10/20/23 Community Development Financial Institutions Fund posted grant opportunity CDFI-2024-SDL for Fiscal Year 2024 Small Dollar Loan Program with funding of $18.0 million. The grant will be issued under grant program 21.025 Small Dollar Loan Program. It is expected that 70 total grants will be made worth between $20,000 and $500,000.

Timing

Posted Date
Oct. 20, 2023, 12:00 a.m. EDT
Closing Date
Nov. 20, 2023, 12:00 a.m. EST Past Due
Last Updated
Oct. 13, 2023, 2:59 p.m. EDT
Version
1
Archive Date
Dec. 20, 2023

Eligibility

Eligible Applicants
Others (see text field entitled "Additional Information on Eligibility" for clarification)
Additional Info
Applicants must be Certified Community Development Financial Institutions (CDFIs).

Award Sizing

Ceiling
$500,000
Floor
$20,000
Estimated Program Funding
$18,000,000
Estimated Number of Grants
70

Contacts

Contact
Henny Winarsoo Grantor
Contact Email
Email Description
SDL Program questions/inquiries
Contact Phone
(202) 653-0333
Additional Information
A webpage on the CDFI Fund's website with all the relevant details regarding the Small Dollar Loan Program.

Documents

Posted documents for CDFI-2024-SDL

Grant Awards

Grants awarded through CDFI-2024-SDL

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