King Park is excited to announce that both the Build Fund and the Edge Fund been awarded grants from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund.
The CDFI Fund makes grant awards to CDFIs to help them sustain and expand their financial products and services. Grant awards can be used for a variety of purposes including:
- Increasing the volume of products or services
- Providing new products or services
- Expanding operations into new areas
We are proud to be selected out of so many applicants throughout the nation.
Nearly 500 organizations applied for the CDFI Fund’s Financial Assistance or Technical Assistance grant awards, though only 321 were selected.
Since its creation in 1994, the CDFI Fund has awarded more than $2.4 billion to CDFIs, community development organizations, and financial institutions. The Edge Fund received a $125,000 CDFI Technical Assistance grant award, while the Build Fund received a CDFI Financial Assistance grant for $225,000.
“I am proud to announce the FY 2019 CDFI Program and NACA Program awards,” said CDFI Fund Director Jodie Harris. “I am especially pleased that almost half of the awarded organizations have chosen to provide services in areas of persistent poverty, which will lead to significant impact for residents in some of the most distressed communities nationwide.”
Evan Tester, Deputy Director of King Park Development Corporation, stated: “We will use the CDFI grant awards to create impacts that encourage economic and affordable housing expansion in Marion County.”
The Build Fund and the Edge Fund will use the grant awards to enact positive change for our communities and improve upon our services providing inclusive, affordable housing and offering flexible financial products to local small businesses.