CDFI Fund: Capital Magnet Fund Update

The Community Development Financial Institutions Fund (CDFI Fund) has released an updated Frequently Asked Questions (FAQ) document on its website, www.cdfifund.gov/cmf, to assist potential applicants to the fiscal year (FY) 2016 round of the Capital Magnet Fund. Topics updated in the FAQ include affordability requirements, use of Capital Magnet Fund funds with other CDFI Fund program funds, providing Capital Magnet Fund funds to Limited Liability Corporations or Limited Partnerships, and other important topics.

The updated FAQ document can be found on the Capital Magnet Fund website at www.cdfifund.gov/cmf, under How to Apply Step 2: Apply.

Upcoming AMIS Technical Webinars

There are two application webinars scheduled for March 1 and March 3, 2016 to walk through the electronic application for the Capital Magnet Fund in the CDFI Fund’s Awards Management Information System (AMIS). Full details about those webinars and how to join can be found on the Capital Magnet Fund website at www.cdfifund.gov/cmf, under How to Apply Step 2: Apply. There, potential applicants can also view the training presentation from the application webinars the CDFI Fund held in February.

Reminder about Deadlines

  • The deadline for submission of the Capital Magnet Fund application materials due through Grants.gov is 11:59 p.m. Eastern Time (ET) on Wednesday, March 16, 2016.
  • The deadline for submission of the Capital Magnet Fund application materials due through the CDFI Fund’s Award Management Information System (AMIS) is 11:59 p.m. ET on Wednesday, March 30, 2016.
  • The CDFI Fund will stop taking questions about the application at 5:00 p.m. ET on Monday, March 28, 2016.
  • The CDFI Fund will stop providing technical assistance about submitting the application through AMIS at 5:00 p.m. ET on Wednesday, March 30, 2016.

Questions

Please direct any questions about the FY 2016 Capital Magnet Fund round to the CDFI Fund’s Help Desk at 202-653-0421, or cmf@cdfi.treas.gov. For more information about the CDFI Fund, please visit www.cdfifund.gov/cmf.