Latest Updates from the CDFI Fund

Dafina Williams

See below for key updates from the CDFI Fund:

​Apply Now: FY 2019 Funding Round for CDFI Program and NACA Program Open

Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced that it has opened the fiscal year (FY) 2019 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program).

The awards from these programs will support Community Development Financial Institutions (CDFIs) that provide affordable financing and related services to low-income communities and populations that lack access to credit, capital, and financial services.

Learn more about the CDFI Program and how to apply here.

Learn more about the NACA Program and how to apply here.

See the CDFI Fund’s full announcement here.

Comments Request: Fiscal Year 2020 CDFI/NACA Programs Financial and Technical Assistance Applications

The CDFI Fund is currently seeking input on the proposed Fiscal Year (FY) 2020 CDFI/NACA Programs Financial and Technical Assistance Applications that will be used for the FY 2020 – FY 2022 funding rounds. As part of the federal government’s Paperwork Reduction Act, the CDFI Fund is continuing its efforts to streamline the application process for its programs.

Changes proposed to the FY 2020 application are largely organizational rather than substantive, such as consolidating redundant sections and eliminating questions. In addition to general feedback on the proposed application, the CDFI Fund is requesting comments on a set of more specific questions which can be viewed in the Federal Register notice.

Comments are due to the CDFI Fund by May 13, 2019. OFN is seeking feedback from its members to inform our comments on the proposed application. If you would like to weigh in, please email Dafina Williams by April 26 to ensure your input is included in OFN’s letter.

Survey Request: CDFI Fund Capacity Building Initiative

The CDFI Fund is conducting a survey with Econometrica to design a new series of training and technical assistance programs that will be offered through the Capacity Building Initiative. The CDFI Fund seeks to improve the CBI by providing tailored capacity building plans to meet the unique needs of individual organizations.

The survey results will enable the CDFI Fund to create the most effective and responsive trainings and tools to help CDFIs increase their expertise and capacity to achieve greater impact in the communities they serve. The survey will be open until Friday, April 5, 2019.

Take the survey here.

CDFI Fund’s Year in Review 2018

CDFI Fund Director Jodie Harris recently released the CDFI Fund’s Year In Review 2018 which highlights the impact of CDFI Fund awards. Of note, in 2018 the CDFI Fund provided $345 million in awards and loans, $150 million in bond guarantees, and $3.5 billion in New Markets Tax Credit allocations to CDFIs and other community development organizations across the country.

Read more here.

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