DeLauro Applauds US Treasury’s $910,000 CDFI Grant To The Greater New Haven Community Loan Fund

Washington, DC – Congresswoman Rosa L. DeLauro (D-CT) today lauded the announcement by the Department of the Treasury that a $910,000 grant has been awarded under the Community Development Financial Institutions Fund (CDFI) to the Greater New Haven Community Loan Fund, Inc.

"With this timely grant, the Greater New Haven Community Loan Fund will be able to continue their good work of helping neighborhoods and communities hardest hit by the housing foreclosure crisis " said Congresswoman DeLauro, "Stabilizing our housing market and ensuring continued access to affordable housing is the key to our economic recovery and job creation."

Under the fiscal year 2009 round of the CDFI Program, 62 institutions were selected from an applicant pool of 194 organizations that had collectively requested over $273 million in awards. The 62 organizations being awarded are headquartered in 24 states, the District of Columbia and Puerto Rico. All organizations are selected for an award through a competitive application process involving a Comprehensive Business Plan review.

Through the CDFI Program, the CDFI Fund invests in and builds the capacity of existing private, for-profit and nonprofit community-based lending organizations known as Community Development Financial Institutions (CDFIs) that serve rural and urban low-income people and communities across the nation that lack adequate access to affordable financial products and services.

The Mission of the Department of the Treasury's CDFI Fund is to expand the capacity of financial institutions to provide capital, credit and financial services to underserved populations and communities in the United States. Its vision is an America in which all people have adequate access to affordable capital, credit and financial services.

For more information on the CDFI Fund, please visit the website at https://www.cdfifund.gov.