Two Lancaster organizations were among eight Pennsylvania nonprofits to receive the most recent round of grants from the U.S. Treasury Department’s Community Development Financial Institution Fund.
Community First Fund received two grants totaling $1.9 million, while Assets received a $350,000 grant. All of the other Pennsylvania recipients were from Philadelphia or Pittsburgh.
Community First Fund, a nonprofit lender serving low-income communities, plans to use a $916,000 financial assistance grant to expand its small business and commercial real estate development efforts. This year marks the 16th time the organization has received an award from the CDFI Fund.
Community First Fund also, for the first time this year, received a $1 million grant from the Treasury’s Healthy Foods Financing Initiative to finance businesses that bring nutritious foods to low-income neighborhoods. It was one of 13 nonprofits in the country to receive funding from the initiative.
Assets, a nonprofit that provides loans and entrepreneurship training to businesspeople in Lancaster, plans to use its financial assistance grant to further fund its current services, according to the CDFI Fund’s website. The organization last received a CDFI grant in 2015, when it won $125,000 in technical assistance funds to engage a business consultant.
The CDFI Fund has awarded more than $2.5 billion to various community development organizations since its creation in 1994.