Recently, we learned of a $665,000 grant awarded to our Rural Investment Corporation for lending capital. The Rural Investment Corporation is a subsidiary of the Center for Rural Affairs that is certified as a Community Development Financial Institution (CDFI).
The award comes from the U.S. Department of Treasury CDFI Fund. This was our first ever application to the CDFI Fund for loan capital. We were among 303 CDFIs who were awarded $208.7 million to increase lending and investment activity in low-income and economically-distressed communities across the nation.