Community Development Financial Institutions Bond Guarantee Program

 

To support community development lending and investment by providing a source of long-term capital to certified Community Development Financial Institutions (CDFIs) for economic and community development in low-income communities and underserved rural areas.

Active 21.014 Community Development Financial Institutions Fund, Department of The Treasury F - Guaranteed/Insured Loans Fiscal Year 2017 Please visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond.
Fiscal Year 2018 Visit the CDFI Fund website for more information. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond.
Fiscal Year 2019 Visit the CDFI Fund website for more information. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond.
Fiscal Year 2020 Visit the CDFI Fund website for more information. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond.
Fiscal Year 2021 Visit the CDFI Fund website for more information. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond.
Fiscal Year 2022 Visit the CDFI Fund website for more information. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond. The Small Business Jobs Act of 2010, Section 1134, Public Law 111-240 The Act defines Eligible CDFIs and authorizes the Community Development Financial Institutions Fund (CDFI Fund) to determine which entities may serve as Qualified Issuers. Eligible CDFIs must use the Bond Proceeds for Eligible Community and Economic Development Purposes. This may include, but is not limited to, lending activities in low-income communities and underserved rural areas such as: owner-occupied home mortgages, charter schools, and municipal and community entity lending, among others. Eligible CDFIs must be certified by the CDFI Fund. This program is excluded from coverage under 2 C.F.R. Part 200, Subpart E - Cost Principles. Preapplication coordination is not applicable. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Application procedures will be set forth in the CDFI Bond Guarantee Program regulations, the applicable Notice of Guarantee Availability (NOGA), and application materials. The CDFI Fund reviews applications and authorizes the provision of Guarantees based on an established merit-based review process set forth in the CDFI Bond Guarantee Program regulations, NOGA, and application materials. Contact the headquarters or regional location, as appropriate for application deadlines More than 180 days. Not applicable. Not applicable. The application review and evaluation process is merit-based and based on established standard operating procedures, which may include interviews and/or site visits. Through the CDFI Bond Guarantee Program, the U.S. Department of the Treasury will provide a 100 percent guarantee on the principal and interest of Bonds issued by Qualified Issuers. No guarantee amount may be less than $100,000,000, provided the total of all such guarantees in any one fiscal year may not exceed $500,000,000 (subject to appropriations). By legislative design, the CDFI Bond Guarantee Program is a zero subsidy credit program. In accordance with Federal credit policy, the Federal Financing Bank will purchase Bonds issued by Qualified Issuers. The maximum maturity of the bonds is 29.5 years. Qualified Issuers as “pass-through” entities (not as obligors) will lend the Bond proceeds to Eligible CDFIs. The loans to Eligible CDFIs must be used for Eligible Community or Economic Development Purposes. Bond and Bond Loan rates and terms will vary. Performance Reports: Performance monitoring is required. The CDFI Fund may, if it deems appropriate, audit Qualified Issuers, Eligible CDFIs, Program Administrators, Servicers, and/or the Master Servicer/Trustee, or provide for or require an audit, at least annually. Award Recipients must maintain records to assure that all performance measures are met. Records must be retained in accordance with the provisions of applicable OMB guidance and the terms of the program requirements. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. The CDFI Bond Guarantee Program is subject to annual Congressional authorization and appropriation. Guaranteed Bonds may have terms up to 29.5 years. Method of awarding/releasing assistance: See the following for information on how assistance is awarded/released: Procedures for Bond Loan disbursements are set forth in the CDFI Bond Guarantee Program regulations and the Notice of Guarantee Availability (NOGA). See the following for information on how assistance is awarded/released: Procedures for Bond Loan disbursements are set forth in the CDFI Bond Guarantee Program regulations and the Notice of Guarantee Availability (NOGA). None/Not specified. CDFI Bond Gurantee Program
CDFI Fund
U.S. Department of the Treasury
Washington, DC 20220 US
bgp@cdfi.treas.gov
Phone: (202) 653-0300 http://www.cdfifund.gov 20-4088-0-3-451 (Guaranteed/Insured Loans) FY 22$355,000,000.00; FY 23 est $400,000,000.00; FY 24 est $500,000,000.00; FY 20$100,000,000.00; FY 21 est $500,000,000.00; FY 19$100,000,000.00; FY 18$150,000,000.00; FY 17$245,000,000.00; FY 14$500,000,000.00; FY 16$500,000,000.00; - Not applicable/available. Program regulations (12 C.F.R. Part 1808), NOGA, Secondary Loan Requirements, application materials, and template documents. Fiscal Year 2018 Visit the CDFI Fund website for more information. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond.
Fiscal Year 2019 Visit the CDFI Fund website for more information. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond.
Fiscal Year 2020 Visit the CDFI Fund website for more information. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond.
Fiscal Year 2021 Visit the CDFI Fund website for more information. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-bond.