Greenville, S.C. April 19 – CommunityWorks received over $2.1 million from the U.S. Department of Treasury’s Community Development Financial Institution (CDFI) Fund through the CDFI Equitable Recovery Program (ERP). The award will allow CommunityWorks to increase the loan fund to provide financing for affordable housing and support-related programs, including developer trainings, in eligible areas throughout South Carolina. Additionally, the funding will strengthen CommunityWorks’ organizational and financial capacity. Announced by Vice President, Kamala Harris, and Deputy Secretary of the Treasury, Wally Adeyemo, the CDFI Fund has awarded over $1.73 billion in grants to organizations across the country.
“We are grateful to receive this investment from the CDFI Fund, which will make a significant impact on our community,” said LaTorrie Geer, CEO of CommunityWorks. “This funding will allow us to continue providing critical financing for affordable housing in areas severely impacted by COVID-19.”
The funds will enhance the capability of CDFIs like CommunityWorks across the country to support the revival of low and moderate-income communities impacted by the COVID-19 pandemic. The CDFI ERP is designed to expand lending, grant-making, and investment activities in communities with unmet capital and financial service needs.