Community Development Financial Institutions Program

 

To promote economic revitalization and community development through investment in and assistance to certified and emerging Community Development Financial Institutions (CDFIs).

Active 21.020 Community Development Financial Institutions Fund, Department of The Treasury B - Project Grants 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-program.
Fiscal Year 2018 Visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Fiscal Year 2019 Visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Fiscal Year 2020 Visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Fiscal Year 2021 Visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Fiscal Year 2022 Visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program. Riegle Community Development and Regulatory Improvement Act of 1994, 12 U.S.C. 4701 et. seq. Only certified CDFIs are eligible to apply for Financial Assistance awards. Certified CDFIs and entities seeking to become certified CDFIs may apply for Technical Assistance awards. No awards may be issued to federal government agencies, departments or instrumentalities, state governments, local governments or any agency or instrumentality thereof. Investment Areas and Targeted Populations, as defined in 12 C.F.R. 1805. An organization wishing to apply for a Financial Assistance (FA) award through the CDFI Program must be a certified CDFI as of the publication date of the Notice of Funds Availability (NOFA) in the Federal Register. Both certified CDFIs and Emerging CDFIs are eligible to apply for Technical Assistance (TA) awards. However, non-certified organizations must be able to become certified within three years after receiving a TA award. Preapplication coordination is not applicable. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Each applicant must complete a CDFI Program Application which includes a Comprehensive Business Plan. The CDFI Fund reviews applications and makes awards based on an established awards review process set forth in the Notice of Funds Availability (NOFA) and application materials. Contact the headquarters or regional location, as appropriate for application deadlines Application deadlines are from 30 to 60 days subsequent to the NOFA publication date. Award approval or disapproval determinations are typically made within 270 days after the application deadline. Not applicable. Not applicable. Evaluation factors include: (1) eligibility review, (2) financial analysis and compliance risk evaluation, (3) business plan review, (4) policy objective review and community impact, and (5) other factors set forth in the CDFI Program regulations, NOFA and application materials. FA awards enhance the Recipient's ability to make loans and investments and to provide financial services that promote economic revitalization and community development. CDFI Program FA awards must be expended for activities in the following five categories: (i) Financial Products; (ii) Financial Services; (iii) Loan Loss Reserves; (iv) Development Services; and (v) Capital Reserves. Note: Only Regulated Institutions may use a Base-FA award for Financial Services and Capital Reserves. TA awards build the Recipient's internal capacity. CDFI Program TA awards must be expended for activities in the following seven categories: (i) Compensation – Personal Services; (ii) Compensation – fringe benefits; (iii) Professional Services Costs; (iv) Travel Costs; (v) Training and Education Costs; (vi) Equipment; and (vii) Supplies. Each Recipient enters into an assistance agreement that requires it to achieve Performance Goals and abide by other terms and conditions. The form of the FA award is based on the form of matching funds that the applicant includes in the application, if applicable. If an applicant includes all or a portion of its matching funds in the form of a loan, all or a portion of the FA award will be in the form of a loan commensurate with the amount. Performance Reports: Performance Monitoring is also accomplished with the financial review of Audited Financial Statements or Single Audits conducted pursuant to 2 C.F.R. 200, Subpart F - Audit Requirements. FA recipients are also required to submit Transaction Level Reports (TLR) (1559-0027). The Annual Certification and Data Collection Report (ACR) (1559-0046) is submitted by certified CDFIs that receive CDFI Program award funds. The ACR requires a certified CDFI to annually assess and report on any changes to criteria supporting its CDFI certification, as well as additional organizational, financial, and other data. The CDFI Fund uses this report to monitor the certified CDFI’s compliance with certification criteria and collect data to gain greater insight into the CDFI industry. Not applicable. Award recipients must maintain records to substantiate total costs incurred and to ensure that all Performance Goals and Measures are met. Records must be retained in accordance with the provisions of applicable OMB guidance and the terms of the assistance agreement. Statutory formula is not applicable to this assistance listing.

Matching is mandatory. Unless waived by Congress, CDFI Program applicants are required to match Financial Assistance awards dollar-for-dollar with non-federal funds of the same type as the award itself. The Indian Community Economic Enhancement Act of 2020 (Pub. L. 116– 261) permanently waived the Matching Funds requirement for Native American CDFIs, and as a result, Native American CDFI applicants are not required to provide Matching Funds. Matching requirements are mandatory.

MOE requirements are not applicable to this assistance listing. For FA funds, Recipients must use all award funds within three years. For TA funds, Recipients that are certified CDFIs must use all award funds within two years; and Emerging CDFI Recipients that are not certified must use all award funds within three years. Method of awarding/releasing assistance is either lump sum or in multiple disbursements based on the projected use in upcoming twelve months. None/Not specified. Community Development Financial Institutions (CDFI) Program
1500 Pennsylvania Avenue, N.W.
Washington, DC 20220 US
cdfihelp@cdfi.treas.gov
Phone: (202) 653-0300 http://www.cdfifund.gov 20-1881-0-1-451 (Project Grants) FY 22$189,584,256.00; FY 23 est $171,647,870.00; FY 24 est $443,179,000.00; FY 21$185,628,256.00; FY 20$186,923,952.00; FY 19$182,471,140.00; - The range of Technical Assistance Awards for FY 2022 was $95,000 to $125,000. The FY 2022 average TA Award was $124,851. The range of Financial Assistance (FA) Awards for FY 2022 was $125,000 to $1,607,900, not including HFFI Awards. For FY 2022 the average Financial Assistance Awards (Base-FA) for Category I: Small and/or Emerging CDFI Assistance (SECA) was $349,479, and the average Financial Assistance Awards (Base-FA) for Category II/Core was $596,459, which does not include Persistent Poverty Counties-FA, Disability Funds-FA, or Healthy Food Financing Initiative-FA awards. The range of Persistent Poverty Counties-FA (PPC-FA) for FY 2022 was $100,000 to $157,900. The FY 2022 average PPC-FA was $128,273. For FY 2022, all Disability Fund Financial Assistance (DF-FA) awards were $500,000. The range of Healthy Food Financing Initiative (HFFI) Assistance Awards for FY 2022 was $1,000,000 to $5,000,000. The average HFFI Assistance Award for FY 2022 was $2,875,000. 12 C.F.R. Part 1805; NOFA; and application materials. Fiscal Year 2017 Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Fiscal Year 2018 Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Fiscal Year 2019 Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Fiscal Year 2020 Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Fiscal Year 2021 Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Fiscal Year 2022 Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.