Bishop announces $13.7 million Capital Investment funds for Camilla

WASHINGTON, D.C. — Congressman Sanford D. Bishop Jr. announced this week that Camilla Bancshares Inc. in Camilla will receive $13,708,000 from the U.S. Department of the Treasury through its Emergency Capital Investment Program for a range of community investments such as affordable housing and community development projects.

"Many small businesses and low-income borrowers were hit hard during the pandemic and many still struggle to find affordable housing and keep their businesses open," Bishop said in a news release. "I am glad that these funds are coming to Camilla so that crucial investments can be made to support local businesses that will enrich the whole community."

"These essential funds provide opportunity to underserved communities across the country, helping them to regain their footing following the pandemic and strengthening their resilience against future shocks," Secretary of the Treasury Janet L. Yellen said. "Today's announcement is a significant step toward expanding access to the capital and services to rebuild and fuel long-term economic growth."

The Emergency Capital Investment Program was established by Congress in 2021 under the Consolidated Appropriations Act. The program works with Community Development Financial Institutions to provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities.