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Find similar grantsSmall Dollar Loan Program is sponsored by Community Development Financial Institutions Fund (U.S. Department of the Treasury). The Small Dollar Loan Program was established to assist Certified CDFIs in offering alternatives to high-cost small dollar loans, promoting more affordable financial options for consumers.
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# Small Dollar Loan Program | Community Development Financial Institutions Fund **Official websites use** A **. gov** website belongs to an official government organization in the United States.
**Secure websites use HTTPS** Community Development Financial Institutions Fund U.S. Department of the Treasury ##### Top Navigation Second * Community Development Advisory Board * Bank Enterprise Award (BEA) Program * Capital Magnet Fund (CMF) Program * CDFI Bond Guarantee Program * CDFI Equitable Recovery Program * CDFI Rapid Response Program * New Markets Tax Credit (NMTC) Program * Small Dollar Loan Program * Compliance and Performance Reporting Resources * Opportunity Zones Resources * Searchable Awards Database * NMTC Allocatee States Served * Historical Award Documents * Program Eligibility Guidance * Message From the Director [](https://www.
cdfifund. gov/programs-training/programs/sdlp) 4. Small Dollar Loan Program # Small Dollar Loan Program The Small Dollar Loan Program was created to help Certified CDFIs address the issue of expanding consumer access to mainstream financial institutions and provide alternatives to high cost small dollar loans.
* Launched in 2021, the CDFI Fund has provided more than $40. 2 million in SDL Program awards to CDFIs through three program rounds. Download SDL Program Fact Sheet (English) › Download SDL Program Fact Sheet (Español) › At least one quarter of American households do not have a bank account or rely on costly payday lenders and check-cashing outlets to pay their expenses.
The Small Dollar Loan Program (SDL Program) is intended to expand consumer access to financial institutions by providing alternatives to high-cost small dollar lending. The SDL Program provides grants for Loan Loss Reserves and Technical Assistance to enable Certified CDFIs to establish and maintain small dollar loan programs.
These grants will help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream financial system.
SDL Program grants may only be used to support small dollar loan programs that offer small dollar loans to consumers that: * are made in amounts that do not exceed $2,500; * must be repaid in installments; * have no prepayment penalty; and, * have payments that are reported to a least one of the consumer reporting agencies that compiles and maintain files on consumers on a nationwide basis.
SDL Program grants cannot be used to provide direct loans to consumers. To be eligible to apply for a Small Dollar Loan Program award, your organization must be a: * Partnership between a Certified CDFI and any Federally Insured Depository Institution with a primary mission to serve targeted Investment Areas; or, * Partnership between two or more Certified CDFIs.
Please view the Notice of Funds Availability for the SDL Program to learn more about eligibility requirements for the program. ### Are you an individual or business seeking a loan? Click here to learn how to find CDFIs and CDEs that are providing services in your community.
* STEP 3 | Award Announcement * STEP 4 | Closing and Disbursement * CLOSING AND DISBURSEMENT * STEP 5 | Compliance and Reporting * COMPLIANCE AND REPORTING **Awards**Looking for more about Awards for this program? Find it on our Awards page › **Our Impact**Learn more about the impact of the CDFI Fund on our Impact Blog › ## CDFI Fund Tools & Resources ### ACCESS TOOLS AND RESOURCES Access the CDFI Fund's database systems below.
Use the Awards Database search to find CDFI Fund awardees by state for all of the CDFI Fund's programs.
* **Compliance and Performance Reporting Resources** * AboutCareersCommunity Development Advisory Board * Programs & TrainingCertificationProgramsTraining & TA * Tools & ResourcesAMISCIMS Mapping ToolCompliance and Performance Reporting ResourcesOpportunity Zones Resources * AwardsSearchable Awards DatabaseNMTC Allocatee States ServedHistorical Award Documents * Research & DataResearch ReportsData ReleasesProgram Eligibility GuidanceSnap Stat * News & EventsAnnouncementsMessage From the DirectorRequests for CommentsUpcoming Events Community Development Financial Institutions Fund United States Department of the Treasury ##### Footer Link Menu First * Small & Disadvantaged Businesses ##### Footer Link Menu Second
According to the current listing, eligibility includes: Certified CDFIs are eligible to apply. Confirm the full requirements in the official notice before applying.
Small Dollar Loan Program is funded by Community Development Financial Institutions Fund (U.S. Department of the Treasury). Verify program details on the funder's official page before applying.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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