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Banking & Finance

U.S. Treasury awards $1.8M to Greenville nonprofit

Banking & Finance
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Greenville nonprofit financial institution CommunityWorks has caught the attention of benefactors on the national stage yet again.

In December, it was McKenzie Scott with a portion of $4.2 billion. Now, CommunityWorks is one of 863 community development financial institutions across the country and 11 in the state that received a share of $1.25 billion from the Treasury Department to help spur on small business recovery, particularly in underserved communities.

The U.S. Treasury sourced the $1.8 million grant awarded to CommunityWorks through its CDFI Rapid Response Program.

“We are grateful for this opportunity through the U.S. Department of Treasury,” Tammie Hoy Hawkins, CEO of CommunityWorks, said in a news release. “Thanks to contributions like this, CommunityWorks maintains a keen focus on addressing financial disparities throughout South Carolina by strengthening our programs.”

Vice President Kamala Harris and Treasury Secretary Janet Yellen announced the grant Tuesday at the White House.

“These awards provide CDFIs with an unprecedented level of flexible capital to help distressed and underserved communities across the country take meaningful steps toward recovering from the debilitating economic impacts of the COVID-19 pandemic,” CDFI Fund Director Jodie Harris, said in the release. “CDFI RRP awards will enable CDFIs to help businesses keep their doors open, help families make ends meet, and help maintain important community facilities during this difficult time.”

Reach Molly Hulsey at 864-720-1223.

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