Community Development Financial Institutions (CDFI) Rapid Response Program
The Rapid Response Program provides grants to help Community Development Financial Institutions (CDFI) prepare for and respond to economic impacts of the COVID-19 pandemic. The program will enable CDFIs to deliver immediate assistance to distressed and underserved communities and populations, including rural areas, that lack access to capital and other affordable financial products and services.
Eligible activities include the direct provision of products and services in one of the following categories:
- Financial products
- Financial services
- Loan loss reserves
- Development services
- Capital reserves
Information regarding eligible activities to support CDFI operations is available in the funding announcement.
Eligible applicants are certified Community Development Financial Institutions.
Award ceiling: $5,000,000
Award floor: $200,000
Expected number of awards: 1050
Estimated total program funding: $1,248,000,000
At least $25,000,000 of the total program funding will be awarded to CDFIs that serve Native communities. An estimated 50 awards will be made to CDFIs serving Native communities.
Follow the steps to complete the application process listed in the how to apply section of the program website.
- March 22, 2021 - Deadline for submitting Standard Form SF-424 through grants.gov
- March 22, 2021 - Deadline for creating an account in Awards Management Information System (AMIS)
- March 23, 2021 - The last day the CDFI Fund will answer questions about the application
- March 25, 2021 - Deadline for submitting the Rapid Response Program application through the Awards Management Information System (AMIS)
Information on scheduled applicant webinars and links to other application materials are available on the program website.
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.