Small Dollar Loan Program (SDLP)
Funds nonprofit and public lenders creating small consumer loan options through training and resilience support.
The Small Dollar Loan Program awards grants for Loan Loss Reserves and Technical Assistance to Certified CDFIs establishing or maintaining consumer small-dollar loan programs (≤$2,500 per loan) as alternatives to payday lenders and check-cashing services. SDLP grants cannot be used to fund the consumer loans directly — only to capitalize loss reserves and fund TA. Supported loans must be repaid in installments, carry no prepayment penalty, and be reported to at least one nationwide consumer-reporting agency. Since its 2021 launch, SDLP has awarded $40.2M+ across three rounds. Eligible applicants include Certified CDFIs applying solo, or partnerships of a Certified CDFI with a Federally Insured Depository Institution, or partnerships of two or more Certified CDFIs.
No upcoming rounds verified. Cadence: Annual.