The committee's CEO presented checks Wednesday to Latino Community Credit Union and Mechanics and Farmers Bank.
The money will be used for personal and business loans. The committee said they hope the move will attract more Democratic voters and will help get President Obama re-elected.
"We won this state by 14,177 votes in 2008. We intend to win it again in 2012, hopefully by a larger margin," said DNCC CEO Steve Kerrigan. "Invest in the community, allow small businesses to grow, create jobs and really help build our economy."
The money is part of a much larger grant given by the Federal Election Commission to both political parties. The bulk of the money was deposited by the Democratic Convention Committee into Charlotte-based Bank of America.
This is a state that has always been reinventing itself and has always been on the cutting edge of all economic advances, always reinventing its economy in hard times