Delta Community Capital Initiative (DCCI)
Purpose of the Program: The purpose of the Delta Community Capital Initiative (DCCI) is to support local rural nonprofits and Federally Recognized Indian tribes serving the Lower Mississippi Delta for lending and investing activities in businesses lending and economic development, and for securing additional sources of public and private capital for these activities. DCCI’s goal is to increase access to capital for business lending and development in the chronically underserved and undercapitalized Lower Mississippi Delta Region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions so that funding opportunities will be more effective and economic development services will expand to the underserved residents of Lower Mississippi Delta Region. DCCI will focus on helping local financial institutions improve their capacity to raise capital, and to lend and invest in local communities. Strengthening local community development lenders and investors will also widen the channels through which larger private institutions and federal agencies can reach small business owners and entrepreneurs who need their support.
General information about this opportunity
Last Known Status
Deleted 02/13/2015 (Archived.)
Program Number
FR-5800-N-18
Federal Agency/Office
Agency: Department of Housing and Urban Development
Type(s) of Assistance Offered
Grant
Number of Awards Available
5
Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
Applicants that are eligible to participate in this initiative are community development lenders and investors, which may be local rural non-profit organizations. Applicants do not need to be certified as Community Development Financial Institutions by the CDFI Fund at the time of application. If applicants propose to become certified as a CDFI, they should establish milestones and timeframes toward the CDFI certification process in their application. Applicants may serve markets other than Delta residents and communities, using other sources of financing. Individuals, foreign entities, and sole proprietorship organizations are not eligible to compete for, or receive, awards made under this announcement.
What is the process for applying and being award this assistance?
Application Procedure
Electronically submitted applications must be submitted no later than 11:59:59 p.m., ET, on the listed application due date.
Deadlines
11/03/2014
Other Assistance Considerations
Formula and Matching Requirements
This program does not have cost sharing or matching requirements.
Who do I contact about this opportunity?
Headquarters Office
Jackie L. Williams
Jackie.Williams@hud.gov
Website Address
http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/grants/fundsavail
E-mail Address
Jackie.Williams@hud.gov
Financial Information
Obligations
$1,000,000.00
Range and Average of Financial Assistance
Awards range from $100,000.00 to $1,000,000.00
