Small Dollar Loan Program Application Consultation
Summary
The Community Development Financial Institutions Fund (CDFI Fund) has closed the comment period for its proposed Small Dollar Loan Program application. This program aims to support the development of small dollar loan products by eligible entities.
What changed
The CDFI Fund has concluded the public comment period for its proposed Small Dollar Loan Program application. This initiative seeks to foster the creation and expansion of small dollar loan offerings by qualified organizations, potentially impacting entities involved in consumer lending and financial inclusion.
Regulated entities interested in participating in or being affected by this program should review the proposed application guidelines and any subsequent final rules. While the comment period has closed, entities may still wish to monitor the CDFI Fund's website for further announcements regarding the program's implementation and any specific requirements or deadlines for future applications.
What to do next
- Review proposed Small Dollar Loan Program application guidelines
- Monitor CDFI Fund website for program implementation updates
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