Treasury launches $9B CDFI, MDI program

The Treasury Department opened the application process for the Emergency Capital Investment Program, which will provide $9 billion in capital to Community Development Financial Institutions and Minority Depository Institutions.

The funds support loans, grants, and forbearance for small and minority businesses and consumers in low-income communities. The ECIP will complement the $3 billion in CDFI Fund grants through the CDFI Rapid Response Program and the Emergency Support and Minority Lending Program.