by Talk Business & Politics staff (staff2@talkbusiness.net)

The U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund has awarded more than $1.73 billion in grants to 603 CDFIs through the CDFI Equitable Recovery Program. Southern Bancorp, Inc., a bank holding company, and Southern Bancorp Community Partners, a nonprofit loan fund that works alongside Southern Bancorp, Inc., announced Wednesday (April 12) that each has been awarded $4.9 million, which will be put to work in its Arkansas and Mississippi markets.

“We are grateful to the U.S. Treasury for appropriating this pandemic recovery funding and distributing it to CDFIs like Southern Bancorp, Inc. and Southern Bancorp Community Partners, who can put it to work supporting the people and places who are hurting most in this economic climate,” said Darrin Williams, CEO of Southern Bancorp, Inc.

“Southern Bancorp has a proven track record of putting such resources to work in communities that need it, and this funding will allow us to increase access to financial opportunities in and around our markets, while supporting small businesses and working families,” he added.

https://talkbusiness.net/2023/04/southern-bancorp-receives-9-8-million-in-cdfi-grant-funds/