FOR IMMEDIATE RELEASE
Release Date: 8/7/12
Contact: Jeanne DuBois,
Executive Director
617-825-47200 x217
Sandra West, Director of Marketing x210
US TREASURY CDFI FUND AWARDS DORCHESTER BAY
NEIGHBORHOOD LOAN FUND $600K TO HELP SPUR JOB CREATION
AND ECONOMIC GROWTH IN MA
The Treasury Announced More Than $186 Million in Awards to Organizations Serving LowIncome and Native Communities. This is the largest announcement in the history of the US
Treasury’s CDFI Fund.
On August 6, Milwaukee, WI – Underscoring the U.S. Department of the Treasury’s
commitment to revitalizing economic and community development across the country,
Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell
and Treasury Deputy Assistant Secretary Don Graves joined U.S. Representative Gwen Moore to
announce an aggregate total of $186,853,456 in awards to 210 organizations serving low-income
communities.
Dorchester Bay Neighborhood Loan Fund (DBNLF) in Boston is a certified CDFI that was
established in 1999 by Dorchester Bay Economic Development Corporation. It offers
microloans and small business loans to entrepreneurs and homeowners. DBNLF also offers
technical assistance and training. The organization will use its $600K award to grow its financial
products, to support its operations, to strengthen its organization, and to better serve its target
market.
Awards were provided to certified and emerging Community Development Financial Institutions
(CDFIs) that specialize in assisting low-income and distressed communities. Speaking to a group
of CDFIs that work in Wisconsin, Director Gambrell highlighted how the awards announced will
benefit a broad swathe of Americans. “I am pleased to announce the 2012 awards for the CDFI
Program and the NACA Program, which will increase the capacity of CDFIs serving low-income
and Native communities across the country. This year’s awardees will continue to provide vital
financial services in low-income areas that are typically overlooked by traditional lenders,
bettering the lives of Americans nationwide” said Director Gambrell
The CDFI Fund is awarding more than $175 million to 177 awardees in CDFI Programs and
nearly $11.5 million to 33 awardees in NACA Program awards.
Tel (617) 825-4200
Fax (617) 825-3522 www.dbedc.org