On February 25, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2022 application period for the CDFI Bond Guarantee Program.
Through the CDFI Bond Guarantee Program, selected Certified CDFIs or their designees issue bonds that are guaranteed by the Secretary of the Treasury and use the bond proceeds to extend credit to CDFIs for community development financing and long-term community investments. Authorized uses of the loans financed through the bond proceeds include a variety of financial activities, such as supporting commercial facilities that promote revitalization, community stability, and job creation/retention; housing that is principally affordable to low-income people; businesses that provide jobs for low-income people or are owned by low-income people; and community or economic development in low-income and underserved rural areas.
Bond guarantees are a minimum of $100 million each.
Application materials are available on the CDFI Fund’s website at www.cdfifund.gov/bond under the ‘How To Apply’ section by clicking Step 2: Apply. Application materials must be submitted through the CDFI Fund’s Award Management Information System (AMIS).
Please reference the FY 2022 Notice of Guarantee Availability (NOGA) and application instructions for detailed information regarding application deadlines.
The CDFI Fund will hold an application webinar with Q&A on March 10.
Learn more on the CDFI Fund website.