# Small Dollar Loan Program (21.025)

Source: https://welltoldgrants.com/programs/21-025-small-dollar-loan-program/  
Publisher: Well Told Grants. Data: USAspending.gov and Grants.gov, updated November 7, 2026.

Small Dollar Loan Program is run by Department of the Treasury. From fiscal 2021 to 2025 it awarded $39.2 million in 178 grants, about $220,247 per award.

## Objectives

Through the Small Dollar Loan Program, the CDFI Fund provides (1) grants to enable a certified Community Development Financial Institution (CDFI) or any partnership between a certified CDFI and federally insured depository institution, with a primary mission to serve targeted Investment Areas, to establish a loan-loss reserve fund to cover the losses on small dollar loans from a new small dollar program or an existing small dollar loan program; and (2) grants for Technical Assistance to a certified CDFI or any partnership between or among certified CDFIs to establish and maintain small dollar loan programs. Small Dollar Loan Program grants cannot be used to provide direct loans to consumers. This program is intended to provide an alternative to high-cost small dollar loans, as well as help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream financial system.

## Funding by fiscal year

| Year | Amount | Awards |
|---|---|---|
| 2021 | $10.8 million | 52 |
| 2022 | $11.2 million | 66 |
| 2023 | -$271,988 | 0 |
| 2024 | $17.5 million | 64 |
| 2025 | $0 | 0 |

## Largest recipients

| Recipient | State | Amount |
|---|---|---|
| University Financial Corp, GBC DBA Sunrise Banks | Minnesota | $935,211 |
| Great Rivers Community Capital, Inc. | Missouri | $797,763 |
| Cani's Center for Community and Economic Development, Inc. | Indiana | $663,223 |
| Seattle Metropolitan Credit Union | Washington | $663,223 |
| Checkspring Community Corporation | New York | $661,802 |
| Finest Federal Credit Union | New York | $655,211 |
| Economic Empowerment Center | Nebraska | $639,882 |
| Community Lendingworks | Oregon | $620,936 |
| Freedom First Federal Credit Union | Virginia | $611,960 |
| FBT Bank & Mortgage | Arkansas | $581,506 |
| Cooperativa de Ahorro y Credito de Lares | Puerto Rico | $567,417 |
| Cooperativa de Ahorro y Credito San Jose | Puerto Rico | $559,405 |
| Vicinity Credit Union | Illinois | $559,405 |
| People Trust | Arkansas | $543,623 |
| Texas National Bank | Texas | $537,926 |
| Cooperativa de Ahorro y Credito de Isabela | Puerto Rico | $534,638 |
| Bank of Commerce | Mississippi | $524,934 |
| Cherokee Nation | Oklahoma | $500,914 |
| Business and Community Lenders of Texas | Texas | $493,497 |
| FNBC Bancorp Inc | Arkansas | $443,497 |