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CAMEO Member CDFIs Receive Millions in Grants through Equitable Recovery Program

These grants—representing the largest CDFI grant program in history – will enable hundreds of community lenders to invest in small businesses and entrepreneurs, and also provide home loans for families, financial services for local nonprofits, and capital for community organizations.

Vice President Kamala Harris

Forty organizations committed to serving small businesses and farms received a total of $99.7 million — and 23 of those are California CAMEO members – for a total of $47.2 million – almost half of the total for small business. Great job! Below is a list of statewide CAMEO members who received an ERP award.

OrganizationCityAward Amount
3CORE, Inc.Chico$500,000
AccessitySan Diego$5,887,242
Accion Opportunity FundSan Jose$1,650,510
Ampac Tri-State CDCOntario$3,123,337
Arcata Economic Development CorporationEureka$500,000
California Capital Small Business Financial Development CorporationSacramento$608,141
California Coastal Rural Development CorporationSalinas$2,478,839
California FarmLinkAptos$4,957,678
Economic Justice FundSacramento$500,000
Excite Credit UnionSan Jose$2,478,839
Feed the Hunger FundSan Francisco$961,975
Fresno Area Hispanic FoundationFresno$500,000
ICA FundOakland$1,695,525
Inclusive Action for the CityLos Angeles$500,000
Main Street LaunchOakland$2,602,780
National Asian American CoalitionDaly City$941,958
PACE Finance CorporationLos Angeles$2,400,507
Pacific Coast Regional, Small Business Development Corp.Los Angeles$1,612,732
Pacific Community Ventures, Inc.Oakland$3,248,766
Santa Cruz Community Credit UnionSanta Cruz$4,957,678
TMC Community CapitalOakland$500,000
Vermont-Slauson LDC, Inc.Los Angeles$500,000
Working Solutions CDFISan Francisco$4,072,009

Seven out-of-state CAMEO members also received an ERP award, totaling $14.2 million:

OrganizationCity/StateAward Amount
Prestamos CDFI, LLCPhoenix, AZ$2,478,839
CBA FundWashington, DC$500,000
Palm Beach County Black Business Investment CorporationRiviera Beach, FL$500,000
CLIMB FundCharleston, SC$2,850,664
CommunityWorksGreenville, SC$2,148,327
National Association for Latino Community Asset BuildersSan Antonio, TX$727,126
Capital Impact PartnersArlington, VA$4,957,678

Congratulations to all these impactful organizations!

The Equitable Recovery Program was created as a response to the economic impacts of the COVID-19 pandemic on low-to-moderate income communities across the country. The awards enable CDFIs to expand their lending, grant making, and investment capabilities in order to shore up resources for underserved areas and minority populations.

These critical resources will allow mission-driven lenders to expand access to capital in financially underserved communities, which will help increase contributions to long-term economic growth.

Treasury Secretary Janet Yellen