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22ERP061275-G

Project Grant

Overview

Grant Description
The CDFI ERP provides grants to CDFIs to respond to the economic impacts of the COVID-19 pandemic. Awards provided to CDFIs are to expand lending, grant making, and investment activity in low- or moderate-income communities and to borrowers, including minorities, that have significant unmet capital or financial service needs. These communities were disproportionately impacted by the COVID-19 pandemic. The grants also enable CDFIs to build organizational capacity and acquire technology, staff, and other tools necessary to accomplish the activities under a CDFI ERP award.
Awardee
Citizens Bank
Grant Program (CFDA)
21.033 - Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP)
Awarding / Funding Agency
Community Development Financial Institutions Fund (CDFI) [USDT]
Place of Performance
Multi-State United States
Geographic Scope
Multi-State
Related Opportunity
None
Analysis Notes
COVID-19 $6,197,097 (100%) percent of this Project Grant was funded by COVID-19 emergency acts including the CARES Act.
Citizens Bank was awarded CDFI ERP Grants for COVID-19 Economic Relief in Low-Income Communities Project Grant 22ERP061275-G worth $6,197,097 from Community Development Financial Institutions Fund in April 2023 with work to be completed primarily in Multi-State United States. The grant has a duration of 5 years 8 months and was awarded through assistance program 21.033 Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP).

Status
(Ongoing)

Last Modified 5/17/23

Period of Performance
4/10/23
Start Date
12/31/28
End Date
46.0% Complete

Funding Split
$6.2M
Federal Obligation
$0.0
Non-Federal Obligation
$6.2M
Total Obligated
100.0% Federal Funding
0.0% Non-Federal Funding

Activity Timeline

Interactive chart of timeline of amendments to 22ERP061275-G

Additional Detail

Award ID FAIN
22ERP061275-G
SAI Number
None
Award ID URI
SAI EXEMPT
Awardee Classifications
For-Profit Organization (Other Than Small Business)
Awarding Office
2031EQ EQUITABLE RECOVERY PROGRAM
Funding Office
2031EQ EQUITABLE RECOVERY PROGRAM
Awardee UEI
JDYCQ25527V6
Awardee CAGE
7DYF3
Performance District
90

Budget Funding

Federal Account Budget Subfunction Object Class Total Percentage
Community Development Financial Institutions Fund Program, Emergency Support, Departmental Offices, Treasury (020-0160) Community development Grants, subsidies, and contributions (41.0) $6,197,097 100%
Modified: 5/17/23