OMAHA- The Biden administration announced that $13 million will head to Nebraska to improve access to financial services and stir investment in underserved communities. The $13 million was split amongst five entities who were all awarded various amounts of the main pool. The awards were part of $1.73 billion in grants that are to go to 603 Community Development Financial Institutions across the country through the Treasury Department’s CDFI Equitable Recovery Program.

Midwest Housing Development Fund Inc. of Omaha was awarded the bulk of the Nebraska share, about $6.2 million. Other recipients are: Omaha 100 Inc., $2.97 million; Oakland-based Nebraska Enterprise Fund, $2.23 million; Grand Island-based Native360 Loan Fund Inc., $961,541; Omaha’s Economic Empowerment Center, $527,331.

“These grants — representing the largest CDFI grant program in history — will enable hundreds of community lenders to invest in small businesses and entrepreneurs, provide home loans for families, financial services for local nonprofits, and capital for community organizations,” Vice President Kamala Harris said in a statement. Jodie Harris, CDFI Fund director, said the program funding is expected “to help families make ends meet” in tough times exacerbated by COVID-19.

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