The Northwest Side CDC (NWSCDC) received a grant of $125,000 from the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund).
The award was granted to the NWSCDC, a certified CDFI, for Technical Assistance to the business lending program. NWSCDC was one of six CDFI’s to receive funding in Wisconsin in the 2015 award round. The CDC received the maximum possible award under the Technical Assistance category. NWSCDC has received Financial and/or Technical Assistance awards from the CDFI Fund every year since 2011.
“We are grateful for the ongoing support of the CDFI Fund,” said Howard Snyder, Executive Director of the NWSCDC. “The award will help us attract and retain businesses on the Northwest side of Milwaukee.”
The CDFI Fund helps economically underserved communities by offering affordable financial products and services that meet their needs. Organizations focused on these communities are able to further their economic, housing and community development initiatives through CDFI Fund programs. Technical Assistance awards are used to support organizational capacity and can be used to support operational needs such as equipment, consulting services, salaries and benefits of loan program staff, and to train staff or Board members.
For more information on the NWSCDC, please visit nwscdc.org. For more information on the CDFI Fund, please visit cdfifund.gov.Did you like this story? Subscribe to NNS today.