Sacramento, Calif. (September 16, 2021) – Today, the Economic Justice Fund was awarded a $125,000 technical assistance grant by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). The Economic Justice Fund will use the grant to expand its capacity to provide financing and credit building services to low-income individuals and entrepreneurs.
The CDFI Fund awarded the grant through the fiscal year (FY) 2021 round of its flagship program, the Community Development Financial Institutions Program (CDFI Program), which provides grants to community-based organizations dedicated to increasing access to affordable financial services in low-income communities.
For FY 2021, 174 organizations received more than $21.6 million in CDFI Program Technical Assistance Awards. The maximum award amount available was $125,000.
“CDFI Fund’s Technical Assistance Awards play a vital role in building the capacity of startup and existing CDFIs and, ultimately, increase the impact of the capital and credit they deploy in distressed and underserved communities. The FY 2021 CDFI Program and NACA Program Technical Assistance recipients will continue that work in communities across the country, including 39 states, the District of Columbia, and Puerto Rico.”
Jodie Harris, CDFI Fund Director
The CDFI Program invests in and builds the capacity of CDFIs to serve low-income people and underserved communities lacking adequate access to affordable financial products and services. Technical Assistance awards provide seed capital that enables uncertified organizations to successfully secure certification as a CDFI.
About the Economic Justice Fund
The Economic Justice Fund is a mission-driven, nonprofit financial institution dedicated to providing fair, affordable financing and free credit building services to empower borrowers to realize their dreams. Our loans have low fixed rates, no application fees, no origination fees, no servicing fees and no prepayment fees. We also offer flexible terms and flexible underwriting to meet the needs of a wide range of borrowers.
For more information, visit www.economicjusticefund.org.