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Community Development Financial Institutions (CDFI) Program

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: 21.020
Sponsor
U.S. Department of Treasury
Deadlines
Jun 6, 2019
Contact

CDFI Fund help desk
cdfihelp@cdfi.treas.gov
202.653.0421

Certification, compliance monitoring, and evaluation help desk
ccme@cdfi.treas.gov
202.653.0423

Purpose

This program supports Community Development Financial Institutions (CDFIs) providing affordable financing and related services to low-income communities and populations that lack access to affordable credit, capital, and financial services. Funds may be used to:

  • Promote economic development, develop businesses, create jobs, and develop commercial real estate
  • Develop affordable housing and promote homeownership
  • Provide community development financial services, such as basic banking services, financial literacy programs, and alternatives to predatory lending
  • Finance healthy food retail outlets in food deserts

There are two types of awards:

  1. Financial Assistance (FA) Awards - May be used for financing capital, loan loss reserves, capital reserves or operations. FA awards are made in the form of equity investments, loans, deposits, or grants, and the CDFI is required to match its FA award dollar-for-dollar with non-federal funds of the same type as the award itself. Within the Financial Assistance program, applicants may apply for additional funds through the Healthy Food Financing Initiative.
  2. Technical Assistance (TA) Awards - Allows certified CDFIs and established entities seeking to become certified to build their capacity to provide affordable financial products and services to low-income communities.
Eligibility

To be eligible for an FA award, a CDFI must be certified by the CDFI Fund before it applies for the award. Prospective applicants that are not yet certified must submit a separate certification application to be considered for FA during a funding round.

Both certified and non-certified CDFIs are eligible to apply for TA awards. However, non-certified organizations must be able to become certified within 2 years after receiving a TA award.

Geographic coverage
Nationwide
Amount of funding

Award ceiling: $1,000,000
Award floor: $10,000
Expected number of awards: 265
Estimated total program funding: $184,000,000

Application process

Links to all application materials are available on the program website and grants.gov.

Important dates:

Applicants may attend in-person application workshops and/or live question and answer webcasts. Registration information is available on the program website.

Tagged as
Capital funding · Community and economic development · Food security and nutrition · Housing and homelessness



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.