Part of $104.9 Million Awarded to Local Financial Institutions Across the Nation Serving Struggling Communities
NDC’s small business loan program, the Grow America Fund (GAF), has received an award from U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) as part of its program to assist financial institutions serving struggling communities. Recognizing GAF as a financial institution that plays ” a critical role financing small businesses and providing access to capital where it is needed most,” CDFI has awarded $750,000 to GAF that GAF President Pat Thomson said will be used in its nationwide lending program to increase capital for small businesses located in low-income communities. Treasurer of the United States Rosie Rios noted that, “The awards we are announcing today will provide critical support to local financial institutions, which are on the front lines creating jobs and economic opportunity in communities across the country.”
Read the full press release here.