Small Dollar Loan Program (21.025)
Small Dollar Loan Program (Assistance Listing 21.025) is run by the Community Development Financial Institutions Fund, part of the Department of the Treasury. It awarded $39.2 million in 178 grants from fiscal 2021 to 2025, about $220,247 per award on average. No funding opportunity is open on Grants.gov right now.
The typical award was $213,497. Half of the 178 awards fell between $135,000 and $280,000, and they ranged from $33,522 to $415,000.
- Awarded, FY 2021 to 2025$39.2 million
- Grant awards178
- Typical award$213,497
- Awarded in FY 2025$0
- Size rank1099 of 1824
- Type of assistanceGrant
Key findings
- It is the 1099th largest of 1,824 federal grant programs by five-year awards.
- The 20 largest recipients received 31% of the money.
- Awards went to recipients in 39 states and territories.
What the program funds
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.
Open opportunities
No opportunity under this program is open or forecast on Grants.gov right now. Programs often post once a year, so the funding history below shows what to expect.
Rules from the program listing
Who can apply
Nonprofit Organizations, For Profit Organizations and Other Private Institutions/Organizations in the form of federally insured depository institutions, or federally-insured credit unions that are certified CDFIs.
What the money can and cannot pay for
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 in order 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. Each recipient enters into a Small Dollar Loan Program Assistance Agreement that specifies the terms and conditions related to expenditures (including eligible uses) of the grant funds, compliance with performance goals, and reporting requirements on performance outcomes.;
Matching requirements
This program has no statutory formula. Small Dollar Loan Program applicants are required to match grants for Loan Loss Reserve with non-Federal funds in an amount equal to 50 percent of the amount of the grant, unless waived by Congress in the applicable appropriations. Technical Assistance grants do not have matching requirements.MOE requirements are not applicable to this assistance listing.
Award range and average, in the agency's words
FY 2023: No Funding Round FY 2024: Range of awards $112,093 to $383,223; Average Award $274,433. FY 2024 was a double funding round. FY 2024 obligations made from FY 2023 and FY 2024 appropriations.
Examples of funded projects
Fiscal Year2022: Visit the CDFI Fund website for examples of funded projects. The information can be accessed via https://www.cdfifund.gov/programs-training/programs/sdlp.Fiscal Year2024: Visit the CDFI Fund website for examples of funded projects. The information can be accessed via https://www.cdfifund.gov/programs-training/programs/sdlp.
Funding history and past recipients
From fiscal 2021 to 2025, Small Dollar Loan Program (21.025) awarded$39.2 million across 178 grant awards, an average of $220,247 per award.
Who usually wins
Nonprofits received 42% of the money, businesses 26% and tribes 2.3%.
| Recipient type | Awards | Amount | Share |
|---|---|---|---|
| Nonprofits | 81 | $16.4 million | 42% |
| Other | 48 | $11.3 million | 29% |
| Businesses | 43 | $10.3 million | 26% |
| Tribal governments and organizations | 4 | $894,590 | 2.3% |
| State and local governments | 1 | $161,439 | 0.4% |
| Colleges and universities | 1 | $131,062 | 0.3% |
By state
15 states have a page for this program: those that received at least $1 million or 10 awards.
| State | Awards | Amount |
|---|---|---|
| Puerto Rico | 20 | $5.3 million |
| California | 14 | $3.2 million |
| New York | 12 | $2.8 million |
| Arkansas | 8 | $2.1 million |
| Florida | 7 | $1.8 million |
| Mississippi | 8 | $1.8 million |
| Washington | 8 | $1.7 million |
| Texas | 6 | $1.5 million |
| Minnesota | 6 | $1.5 million |
| Louisiana | 8 | $1.5 million |
| Oregon | 6 | $1.3 million |
| Virginia | 8 | $1.2 million |
| Michigan | 8 | $1.1 million |
| Missouri | 3 | $1.1 million |
| Oklahoma | 5 | $1.1 million |
| Wisconsin | 6 | $997,462 |
| South Carolina | 4 | $906,773 |
| Alabama | 3 | $804,393 |
| Georgia | 3 | $781,675 |
| Illinois | 4 | $729,032 |
| Tennessee | 4 | $688,682 |
| Indiana | 2 | $663,223 |
| Nebraska | 2 | $639,882 |
| Pennsylvania | 3 | $425,637 |
| New Mexico | 1 | $415,000 |
| New Jersey | 2 | $412,500 |
| North Carolina | 2 | $376,431 |
| District of Columbia | 2 | $342,481 |
| Hawaii | 2 | $312,889 |
| Montana | 1 | $287,417 |
| Rhode Island | 1 | $258,676 |
| Alaska | 2 | $213,536 |
| Iowa | 1 | $205,000 |
| Arizona | 1 | $175,000 |
| Guam | 1 | $161,439 |
| Idaho | 1 | $142,500 |
| Kentucky | 1 | $120,000 |
| Vermont | 1 | $105,000 |
| Colorado | 1 | $87,738 |