Small Dollar Loan Program Pre-Application Webinar being held virtually on 4/27/22.
Pre-Application Webinar for the Small Dollar Loan Program
Later this spring, the CDFI Fund will be accepting applications for the Small Dollar Loan Program (SDL Program). The SDL Program was created to encourage Certified CDFIs to establish and maintain small dollar loan programs and provide alternatives to high cost small dollar loans. For this program, small dollar loans are unsecured loans of up to $2,500. The grants may be used for two eligible activities, loan loss reserves and technical assistance activities.
Through the SDL Program, Certified CDFIs use award funds to help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream financial system. Certified CDFIs may use these funds individually, or through a partnership between a Certified CDFI and any Federally Insured Depository Institution with a primary mission to serve targeted Investment Areas, or through a partnership between two or more Certified CDFIs. The CDFI Fund currently anticipates that up to $11.1 million will be available for the fiscal year (FY) 2022 application round of the SDL Program.
Webinar Date and Time:
April 27, 2022 at 2PM-3PM ET
Grant Management Associates has years of experience with opportunities like this one. Contact us today for a consultation.