Capital Magnet Fund
CDFI Fund help desk
The Capital Magnet Fund provides grants to finance affordable housing and community revitalization efforts that benefit low-income people and communities. The program's goal is to encourage community and economic development activities with the objective of revitalizing low-income communities and underserved rural areas.
Applicants must be either a certified Community Development Financial Institution (CDFI) or a nonprofit organization operating with a principal purpose of developing or managing affordable housing solutions.
All applicants must demonstrate that they have been in existence as a legally formed entity for at least 3 years prior to the application deadline.
Award ceiling: $26,000,000
Award floor: $500,000
Expected number of awards: 40
Estimated total program funding: $173,800,000
Follow the steps to complete the application process listed in the "how to apply" section of the program website.
- June 26, 2020 - Deadline for submitting Standard Form SF-424 through grants.gov
- July 2, 2020 - Deadline for creating an account in Awards Management Information System (AMIS)
- July 23, 2020 - The last day the CDFI Fund will answer questions about the application
- July 27, 2020 - Deadline for submitting the Capital Magnet Fund application through the Awards Management Information System (AMIS)
For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.