Pathway Lending Awarded $916,905 from CDFI Fund
September 20, 2017 – The CDFI Fund announced the Fiscal Year (FY) 2017 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program). The Fund awarded $208.7 million in awards to 303 CDFIs.
Community Development Financial Institutions, or CDFI’s, are mission-driven financial institutions that fill gaps in access to capital by offering affordable financial products and services that meet the unique needs of economically underserved communities.
The CDFI Program “invests in and builds the capacity of CDFIs, empowering them to grow, achieve organizational sustainability, and contribute to the revitalization of their communities.”
Pathway Lending was awarded a $916,905 grant in FY 2017 CDFI Program, which will allow the organization to expand its impacts on small businesses across its service area.
“Pathway Lending is honored to be among the CDFI grant recipients,” said Hank Helton, SVP of Pathway Lending. “These funds will allow us to provide more responsible capital to small business owners, and help us continue our mission of strengthening the communities those entrepreneurs call home.”
“We are very pleased to announce the FY 2017 CDFI Program and NACA Program award recipients,” said CDFI Fund Director Annie Donovan. “This is the largest pool of awardees in the history of the CDFI Fund. These award recipients represent a diverse array of organization types and community investment strategies, serving a broad spectrum of communities. We are especially proud that one-third of the awardees have committed to investing in Persistent Poverty Counties.”
To view the FY 2017 CDFI Program award book, click here.