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CommunityWorks, a statewide nonprofit lending institution, announced April 19 it received more than $2.1 million from the U.S. Department of Treasury’s Community Development Financial Institution Fund through the CDFI Equitable Recovery Program.

The financial institution will use the investment to increase its loan fund, which is used to provide financing for affordable housing and support-related programs — including developer training — in eligible areas throughout the state.

“We are grateful to receive this investment from the CDFI Fund, which will make a significant impact on our community,” said CommunityWorks CEO LaTorrie Geer. “This funding will allow us to continue providing critical financing for affordable housing in areas severely impacted by COVID-19.”

The CDFI Fund has awarded more than $1.73 billion in grants to organizations across the country and the CDFI ERP is designed to expand lending, grant-making and investment activities in communities with unmet capital and financial service needs.

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