The restaurant has created 19 new jobs for the local community and demonstrates how CDFIs play a critical role supporting local entrepreneurs and small businesses spur job creation and economic growth in communities across the country.
Milwaukee, WI — Underscoring the U.S. Department of the Treasury’s commitment to revitalizing economic and community development across the country, Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell and Treasury Deputy Assistant Secretary Don Graves joined U.S. Representative Gwen Moore to announce an aggregate total of $186,853,456 in awards to 210 organizations serving low-income communities.
The fiscal year (FY) 2012 awards, provided through the CDFI Fund’s Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), represent the largest single announcement of award dollars and award recipients in the CDFI Fund’s history.
Both programs provide awards to certified and emerging Community Development Financial Institutions (CDFIs) that specialize in assisting low-income and distressed communities. In addition, the NACA Program has a particular focus of supporting CDFIs that serve primarily Native American, Alaska Native, and Native Hawaiian communities.
In addition, the CDFI Program for the past two years has provided supplemental awards to highly-qualified applicants under the Healthy Food Financing Initiative, which aims to increase access to healthy food options in low-income areas.
Speaking to a group of CDFIs that work in Wisconsin, Gambrell highlighted how the awards will benefit a broad swathe of Americans.
“I am pleased to announce the 2012 awards for the CDFI Program and the NACA Program, which will increase the capacity of CDFIs serving low-income and Native communities across the country,” said Gambrell. “This year’s awardees will continue to provide vital financial services in low-income areas that are typically overlooked by traditional lenders, bettering the lives of Americans nationwide.”
The CDFI Fund is awarding more than $175 million in CDFI Program awards and nearly $11.5 million in NACA Program awards.
Moore attended the event in Milwaukee, which was held at Antigua, a restaurant that got its start with the help of loans and financial education provided by the Wisconsin Women’s Business Initiative Corporation (WWBIC), a local CDFI and 2012 CDFI Program awardee.
The restaurant has created 19 new jobs for the local community and demonstrates how CDFIs play a critical role supporting local entrepreneurs and small businesses spur job creation and economic growth in communities across the country.
“The financial assistance and educational resources provided by the CDFI and NACA Programs here in Milwaukee are critical to our community’s growth and building a strong, robust economy,” said Moore. “I want to thank CDFI Fund Director Donna J. Gambrell, Deputy Assistant Secretary of Treasury Don Graves and the Department of Treasury for choosing the great city ofMilwaukeeto make this very important announcement. I look forward to continuing to work with them to help provide these much needed resources to our most vulnerable communities.”
The 210 awardees — 177 CDFI Program awardees and 33 NACA Program awardees —are headquartered in 41 states. Full details of the awardees may be found on the CDFI Fund’s website, www.cdfifund.gov.
