|Community Development, Economic Development, Health and Nutrition|
|State or Federal?|
Through the CDFI Program, the CDFI Fund invests in and builds the capacity of CDFIs to serve low-income people and communities lacking adequate access to affordable financial products and services. The CDFI Fund invests in certified CDFIs by providing Financial Assistance (FA) awards to applicants that have demonstrated the financial and managerial capacity to deliver financial products and services to a low-income target market and to leverage additional resources effectively. Through Technical Assistance (TA) awards, the CDFI Fund enables certified CDFIs and emerging entities working toward CDFI certification to build their capacity as lending institutions.
In FY 2018, there are additional supplemental funding opportunities for those selected to receive FA awards: the Healthy Food Financing Initiative (HFFI)-FA, the Persistent Poverty Counties (PPC)-FA, and the Disability Funds (DF)-FA.
HFFI-FA awards are offered to CDFIs interested in expanding their healthy food financing activities.
The maximum FA award is $1,000,000, and the maximum Healthy Food Financing Initiative Supplemental Award is $5,000,000 allowing for a maximum total award of $6,000,000
|Nonprofit Organizations, Private Corporations|
To be eligible to apply for a Financial Assistance award, your organization must be a Certified or Certifiable CDFI. Certifiable CDFIs are entities that submit a Certification Application to the CDFI Fund by the deadline specified in the applicable Notice of Funds Availability (NOFA), but are not yet officially certified at the time of Financial Assistance application submission. Information on CDFI certification can be found here: https://www.cdfifund.gov/programs-training/certification/cdfi/Pages/default.aspx
FA, PPC–FA, DF–FA,and HFFI–FA award funds can be expended for activities serving Commercial Real Estate, Small Business, Microenterprise, Community Facilities, Consumer Financial Products, Consumer Financial Services, Commercial Financial Services, Affordable Housing, Intermediary Lending to Non-Profits and CDFIs, and other lines of business as deemed appropriate by the CDFI Fund in the following five categories: (i) Financial Products; (ii) Financial Services; (iii) Loan Loss Reserves; (iv) Development Services; and (v) Capital Reserves.
|Most Recent/Current Due Date|
|Apr 04, 2018|
|Due Date Notes|
Applicants must both submit their SF-424 electronically via Grants.gov and create an AMIS account before 11:59 p.m. Eastern Time (ET) on March 2, 2018.
Complete CDFI Program applications must be submitted electronically through AMIS before 11:59 p.m. ET on April 4, 2018. The FY 2018 application is already available in AMIS as of January 31, 2018. The CDFI Fund strongly encourages all materials to be submitted at least three days before each corresponding deadline for Grants.gov and AMIS.
|Most Recent RFP Release Date|
|Jan 31, 2018|
|Total Possible Multi-Year Award|
|# of Awards|
|Annual or Multi-Year?|
CDFI Fund staff will conduct four in-person CFDI Program workshops in Washington, DC. Online registration is required. CDFI Fund staff will also conduct six targeted live webinars to answer applicant questions. Advance registration is not required. Links to register or access webinars can be found at: https://www.cdfifund.gov/programs-training/Programs/cdfi-program/Pages/apply-step.aspx
The CDFI Fund will not respond to any applicant questions about the FY 2018 application round after 5:00 p.m. ET on April 2, 2018.
|FA awards can be in the form of loans, grants, Equity Investments, deposits, and credit union shares. The form of the FA award is based on the form of the matching funds that the Applicant includes in its application. Matching funds are required, must be from non-Federal sources, and cannot have been used as matching funds for any other Federal award.|
|U.S Department of the Treasury, Community Development Financial Institutions Fund|
|Total Amount Available for All Grants|
The CDFI Program provides Financial Assistance (FA) or Technical Assistance (TA) awards. An applicant can submit an application for either but not both.
Only applicants selected to receive an FA award can receive supplemental funding through the HFFI-FA, PPC-FA, and DF-FA. There is an estimated 20 awards available for FA awards. For supplemental funding, there is an estimated 10 awards for HFFI, 100 for PPC-FA, and 10 for DF-FA.
Link to Further Information