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Rural Health Information Hub

Capital Magnet Fund

This funding record is inactive. Please see the program website or contact the program sponsor to determine if this program is currently accepting applications or will open again in the future.

Catalog of Federal Domestic Assistance Number: 21.011

While this opportunity is currently inactive, a webinar has been scheduled to prepare for the next application cycle. Please see the application process section below.

Community Development Financial Institutions Fund, U.S. Department of Treasury
Feb 23, 2023

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.

Geographic coverage
Amount of funding

Award ceiling: $48,090,000
Award floor: $500,000
Expected number of awards: 55
Estimated total program funding: $320,600,000

Application process

While this program is currently inactive, a webinar has been scheduled for the next application cycle, which will open in early 2024.

Applicant webinar
(Registration required)
December 6, 2023
2:00 p.m. Eastern

Links to application materials are provided on the program website and

Follow the steps to complete the application process listed in the how to apply section of the program website.

Important dates:

Applicant webinars:
(Registration required)

Tagged as
Capital funding · Community and economic development · Housing and homelessness · Poverty

Organizations (2)

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.