The Community Development Financial Institutions (CDFI) Fund awarded $112 million to 260 lending institutions in 1999—a 32 percent increase over the 1998 funding total, according to the CDFI Fund Quarterly. The awards recognize CDFIs, banks and thrifts that promote economic and community development and encourage investment in underserved markets.
Funds are awarded in the Bank Enterprise Award Program and in Core, Intermediary and Technical Assistance Components of the CDFI Program.
Ninth District Core and Intermediate Component award recipients include Midwest Minnesota Community Development Corporation, Detroit Lakes, Minn.; Minnesota Investment Network Corporation, Minneapolis; Montana Community Development Corporation, Missoula, Mont.; Northcountry Cooperative Development Fund, Inc., Minneapolis; Northeast Entrepreneur Fund, Inc., Virginia, Minn.; and Northeast South Dakota Economic Corporation, Sisseton, S.D.
Technical Assistance Component award recipients are Minnesota Investment Network Corporation, Minneapolis: Northeast Ventures Corporation, Duluth, Minn.; and The Lakota Fund, Kyle, S.D.
