Ponce Bank receives $4.15M in CDFI grants: $0.45M BEA award and $3.7M ERP cash

Ponce Financial Group, Inc.

Ponce Bank received $3.7M in cash from CDFI Equitable Recovery Program for COVID-19 recovery lending.
Received approval for $451,025 Bank Enterprise Award from CDFI for qualified activities in distressed communities.
CEO Carlos Naudon emphasized CDFIs are systemically important for underserved communities.
Grants must be used for eligible activities; reporting required per program terms.

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