ENTERPRISE COMMUNITY LOAN FUND INC

Award purpose

PURPOSE: TO PROVIDE SUPPLEMENTAL FUNDING TO CDFI FA AND NACA FA AWARD RECIPIENTS, FOR THESE CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) TO PROVIDE FINANCING ACTIVITIES TO SUPPORT HEALTHY FOOD RETAIL OUTLETS AND HEALTHY FOOD NON RETAIL OUTLETS, THAT EXPAND THE AVAILABILITY OF HEALTHY FOODS IN UNDERSERVED AREAS. PLANNED ACTIVITIES: HFFI FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE HFFI FINANCIAL ASSISTANCE IS TO EXPAND THE AVAILABILITY OF HEALTHY FOODS IN UNDERSERVED AREAS, PARTICULARLY THE AVAILABILITY OF HEALTHY FOOD RETAIL OUTLETS IN AREAS DESIGNATED AS LOW INCOME, LOW ACCESS FOOD AREAS. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.