This grant, the Small Dollar Loan Program (SDL Program), is for Certified Community Development Financial Institutions (CDFIs) to establish and significantly expand small dollar loan programs. Its core purpose is to provide robust, affordable alternatives to the often exploitative and high-cost small dollar loans currently prevalent in the market. Certified CDFIs will utilize these award funds specifically to aid unbanked and underbanked populations. The initiative aims to empower these communities by helping them build essential credit histories, access much-needed affordable capital for various needs, and ultimately facilitate their greater and more equitable integration into the mainstream financial system, promoting long-term financial health and stability.
Opportunity ID: 350583
General Information
| Document Type: | Grants Notice |
| Funding Opportunity Number: | CDFI-2024-SDL |
| Funding Opportunity Title: | Fiscal Year 2024 Small Dollar Loan Program |
| Opportunity Category: | Discretionary |
| Opportunity Category Explanation: | – |
| Funding Instrument Type: | Grant |
| Category of Funding Activity: | Community Development |
| Category Explanation: | – |
| Expected Number of Awards: | 70 |
| Assistance Listings: | 21.025 — Small Dollar Loan Program |
| Cost Sharing or Matching Requirement: | No |
| Version: | Synopsis 1 |
| Posted Date: | Oct 13, 2023 |
| Last Updated Date: | Oct 13, 2023 |
| Original Closing Date for Applications: | Nov 20, 2023 |
| Current Closing Date for Applications: | Nov 20, 2023 |
| Archive Date: | Dec 20, 2023 |
| Estimated Total Program Funding: | $18,000,000 |
| Award Ceiling: | $500,000 |
| Award Floor: | $20,000 |
Eligibility
| Eligible Applicants: | Others (see text field entitled “Additional Information on Eligibility” for clarification) |
| Additional Information on Eligibility: | Applicants must be Certified Community Development Financial Institutions (CDFIs). |
Additional Information
| Agency Name: | Community Development Financial Institutions |
| Description: |
Through the Small Dollar Loan Program (SDL Program), the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awards grants to Certified CDFIs to establish and expand small dollar loan programs and provide alternatives to high-cost small dollar loans. 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. |
| Link to Additional Information: | A webpage on the CDFI Fund’s website with all the relevant details regarding the Small Dollar Loan Program. |
| Grantor Contact Information: | If you have difficulty accessing the full announcement electronically, please contact:
CDFI Fund Help Desk
(202) 653-0421 Email:sdlp@cdfi.treas.gov |
Version History
| Version | Modification Description | Updated Date |
|---|---|---|
Related Documents
There are no related documents on this grant.
Packages
| Agency Contact Information: | CDFI Fund Help Desk (202) 653-0421 Email: sdlp@cdfi.treas.gov |
| Who Can Apply: | Organization Applicants |
| Assistance Listing Number | Competition ID | Competition Title | Opportunity Package ID | Opening Date | Closing Date | Actions |
|---|---|---|---|---|---|---|
| 21.025 | PKG00283474 | Oct 20, 2023 | Nov 20, 2023 | View |
Package 1
Mandatory forms
350583 SF424_Mandatory_3_0-3.0.pdf
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