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MegadealsSubsidy Tracker Individual Entry
Company: Zachary Bancshares, Inc.
Parent Company:
Subsidy Source: federal
Project Description: PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). ACTIVITIES TO BE PERFORMED: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT?S APPROVED TARGET MARKET. END GOAL/EXPECTED OUTCOMES: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW-INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. INTENDED BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENT ACTIVITIES: ONLY IN THE CASE WHERE A CDFI DEPOSITORY INSTITUTION HOLDING COMPANY APPLICANT INTENDS TO CARRY OUT THE ACTIVITIES OF AN AWARD THROUGH ITS SUBSIDIARY CDFI INSURED DEPOSITORY INSTITUTION, AS IDENTIFIED IN ITS ASSISTANCE AGREEMENT WITH THE CDFI FUND.
Year: 2021
Subsidy Value: $325,000
Program Name: Community Development Financial Institutions Program
Catalog of Federal Domestic Assistance code: 21.02
Awarding Agency: Department of Treasury
Type of Subsidy: federal grant
Source of Data:
(click here)
Notes: Year is first year of award performance period. Subsidy value is cumulative obligated total to date. Program name is per the Catalog of Federal Domestic Assistance code.
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