WASHINGTON–The Community Development Financial Institutions Fund (CDFI Fund) staff will host an informational pre-application webinar for the Small Dollar Loan Program on April 13, 2021.
Topics covered will include setting up “critical” SAM.gov and Grants.gov accounts, adjusting organizational profiles in the Awards Management Information System (AMIS), and other ways organizations can prepare in advance for the FY 2021 application round.
Advance registration is not required to participate in the webinar, according to Treasury. Participants are being urged to access the webinar, using the link provided below, at least five minutes prior to the beginning of the webinar.
Viewing this webinar requires the use of WebEx.
The Details
The webinar is scheduled from 2-3 p.m. ET on April 13.
- Call-In: 1-888-947-9963
- Webinar Access: https://www.mymeetings.com/nc/join/
- Conference Number: PWXW2104462
- Audience Passcode: 1582391
New Grant Program
Later this spring, Treasury said the CDFI Fund will be accepting applications for a new grant program, the Small Dollar Loan Program. The Small Dollar Loan 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, Treasury said.
“Through the Small Dollar Loan Program, 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,” Treasury said. “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.”
$13 Million Available
The CDFI Fund said it currently anticipates that up to $13.5 million will be available for the FY 2021 application round of the Small Dollar Loan Program.
The CDFI Fund said more information about the Small Dollar Loan Program, including details about the application and the requirements to apply, will be made available soon.