Vice President Kamala Harris announced more than $1.73 billion to go toward Community Development Financial Institutions this week. A San Diego lender received the second largest grant in California.
The U.S. Treasury Department awarded more than $10 million to three San Diego County Community Development Financial Institutions to bolster pandemic recovery and small business lending in low-income regions.that more than $1.73 billion would go to 603 CDFIs across the country.
“There’s a number of programs through the CDFI fund that the bank participates in — they aren’t to this extent,” Andrews said in a phone interview. “This dollar amount is extraordinary.” In addition to lending, Accessity connects entrepreneurs of color, women, immigrant, and low-to-moderate income entrepreneurs to free business and financial coaching services. Carlson added that a portion of the award money will help the organization grow its operational capacity to support borrowers and equitable recovery activities in the community., said the nonprofit lender received $500,000, which will go toward small businesses and promote affordable housing.
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