HOPE Recommends Reallocating ARPA Loan Funds
Montgomery CountyCounty · Montgomery, AL- Disclosed value
- $3,240,000 total original subaward; $3,015,000 recommended for de-obligation and reallocation; $225,000 advanced (approx. $140,000 remaining to be used or returned)
- From agendapacket
- Document date
- Mar 3, 2026
The 30-second brief
HOPE Credit Union advised Montgomery officials to de-obligate and reallocate $3,015,000 of the $3.24 million ARPA small business loan subaward due to low demand and eligibility challenges. HOPE plans to use remaining advanced funds to process pipeline applications through Q1 2026 and return any unused balance.
Hope Credit Union holds this financial services contract with Montgomery County.
Term as filed: Forgivable loan deployment deadline September 30, 2026; continuation of limited activities through end of Q1 2026.
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Contract details
- Contract type
- Financial Services
- Amount
- $3,240,000 total original subaward; $3,015,000 recommended for de-obligation and reallocation; $225,000 advanced (approx. $140,000 remaining to be used or returned)
- Document date
- March 3, 2026
- Term
- Forgivable loan deployment deadline September 30, 2026; continuation of limited activities through end of Q1 2026
- Vendor
- Hope Credit Union
- Agency
- Montgomery County
- Source document
- Montgomery County Commission AgendaPacket 2026-03-03 (AgendaPacket)
Hope Credit Union's other public contracts
More Montgomery County contracts
Questions about this contract
Who was awarded the financial services contract by Montgomery County?
Hope Credit Union was awarded this financial services contract by Montgomery County, as recorded on March 3, 2026. The contract value is $3,240,000 total original subaward; $3,015,000 recommended for de-obligation and reallocation; $225,000 advanced (approx. $140,000 remaining to be used or returned).
How much is the Hope Credit Union contract with Montgomery County worth?
The Hope Credit Union contract with Montgomery County is valued at $3,240,000 total original subaward; $3,015,000 recommended for de-obligation and reallocation; $225,000 advanced (approx. $140,000 remaining to be used or returned), covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in Montgomery County Commission AgendaPacket 2026-03-03 (AgendaPacket), dated March 3, 2026 from Montgomery County. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Hope Credit Union hold?
Hope Credit Union may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Montgomery County currently buying?
Explore Montgomery County's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.