The Community First Fund has received one of the largest awards given out by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) fund.
The $1.4 million award, announced earlier this month, will be used to support Community First Fund's Small Cities Strategy at its headquarters in Lancaster and its offices in Harrisburg, Reading and York.
The Small Cities Strategy focuses on economic development, and the money will be put into a revolving loan fund that is available throughout all of the counties, said Joan Broadhead, chief operating officer.
Broadhead said the organization has received funding from the CDFI about six times in the past eight years, but this year marks the largest sum.
"It really helps us with supporting activity and leveraging those funds with other state funds and local money," Broadhead said.
Purpose: Community First Fund was one of eight organizations in Pennsylvania and 210 organizations nationwide to receive awards from the competitive grant application process. The awards are intended to help spur job creation and economic growth in communities across the nation, which is one of Community First Fund's top priorities in the 13 counties it serves.
"We are an organization to help redevelop the community and support entrepreneurs," Broadhead said. "We particularly work with lower income individuals or those who may not meet traditional requirements for lenders."
Businesses the fund has worked with in York include Green Bean Roasters, Sincerely Yours Assisted Living and Stage Deli, said Broadhead.
It also works closely with York City on the city's economic development program, she said.
-- Reach Chelsea Shank at 505-5432 or email@example.com