FOR IMMEDIATE RELEASE
Media Contact:
Krista Buckel
859-231-0054 x. 1034
LEXINGTON, KY. (September 26, 2024) – The United States Department of Treasury awarded Community Development Financial Institutions Program (CDFI Program) funds to non-profit Community Ventures (CV). These funds enable CV to finance 200 affordable business and homeownership loans to underserved Kentuckians, creating 280 jobs.
“Disadvantaged Kentuckians experience challenges accessing financial products from conventional lenders due to a lack of credit history, assets, and more,” said Shirie Hawkins President of Everything Equity at Community Ventures. “This funding will allow us to remove some of these barriers for Kentuckians and I’d encourage anyone who believes they may qualify for our programs to reach out.”
Disadvantaged small businesses, microenterprises, and homebuyers in Kentucky can receive financing and development services from CV to help them achieve their goals.
Since its establishment, CV’s financial programs have contributed to:
- 10,703 business owners launching or growing their businesses
- 1,162 Kentuckians becoming homeowners
- 1,062,973 new homeowners participated in financial education and training
- 15,200 jobs created or retained
The CDFI Program invests federal resources—which are matched with private funding—in CDFIs working to serve low-income and underserved people and communities. The CDFI Program offers financial assistance awards in the form of loans, grants, equity investments, deposits, and credit union shares. It also offers technical assistance grants to help CDFI’s build organizational capacity. Both types of awards empower CDFIs to grow, achieve organizational sustainability, and contribute to the revitalization of the communities they serve.
To learn more about the CDFI Program, click here. To learn more about Community Ventures, visit https://www.cvky.org or call (85) 231-0054.
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About Community Ventures: Founded in 1982 as a community-based, non-profit organization, Community Ventures (CV) strengthens communities and improves the overall quality of life for Kentuckians by supporting job creation, small business ownership, and home ownership. CV is headquartered in Lexington with branch locations in Bowling Green, Campbellsville, Louisville, Mayfield, Millersburg, and Owensboro. For 21 consecutive years, CV has been named Microlender of the Year by the Kentucky Small Business Administration.