Treasury Opens Small Business Lending Fund to CDFI Loan Funds

kristy Community Development Solutions

Treasury Opens Small Business Lending Fund to CDFI Loan Funds
May 26, 2011
CDFI Fund 15th Anniversary Logo

Statement from CDFI Fund Director Gambrell on Announcement of
Small Business Lending Fund for Community Development Loan Funds

Lower Cost Capital for CDFI Loan Funds Now Available

Washington, DC – The U.S. Department of the Treasury today released the Term Sheet and other application materials needed by loan funds certified as Community Development Financial Institutions (CDFIs) to access lower-cost capital through the Small Business Lending Fund. Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell issued the following statement.

“CDFIs are uniquely positioned to spur economic growth and create needed jobs in these distressed communities and the low-cost capital accessible through the Small Business lending Fund will certainly result not only in increased small business lending but will stimulate job creation in communities that desperately need them. Small businesses are the foundation of our economy and CDFIs ensure that foundation exists in all our nation’s communities.”

The application deadline for the Small Business Lending Fund for CDFI Loan Funds is June 22, 2011.

More information and related application materials may be found on Treasury’s website.