The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2022 application period for the CDFI Bond Guarantee Program. A total of up to $500 million in bond guarantee authority is available for Eligible Community Development Financial Institutions (Eligible CDFIs) in FY 2022.
Through the CDFI Bond Guarantee Program, selected Certified CDFIs or their designees issue bonds that are guaranteed by the Secretary of the Treasury and use the bond proceeds to extend credit to CDFIs for community development financing and long-term community investments. Authorized uses of the loans financed through the bond proceeds include a variety of financial activities, such as supporting commercial facilities that promote revitalization, community stability, and job creation/retention; housing that is principally affordable to low-income people; businesses that provide jobs for low-income people or are owned by low-income people; and community or economic development in low-income and underserved rural areas.
Bond guarantees are a minimum of $100 million each. Multiple Eligible CDFIs may join a single $100 million guarantee provided that each Eligible CDFI participates at a minimum of $10 million.
In anticipation of the publication of the FY 2022 Notice of Guarantee Availability (NOGA) in the Federal Register tomorrow, application materials are available on the CDFI Fund’s website at www.cdfifund.gov/bondunder the ‘How To Apply’ section by clicking Step 2: Apply. Application materials must be submitted through the CDFI Fund’s Award Management Information System (AMIS).
Please reference the NOGA and application instructions for detailed information regarding the following application deadlines.
- CDFI Certification Applications must be submitted through AMIS by 11:59 p.m. ET on March 28, 2022.
- Qualified Issuer Applications must be submitted through AMIS by 11:59 p.m. ET on April 20, 2022.
- Guarantee Applications must be submitted through AMIS by 11:59 p.m. ET on April 26, 2022.
- The last day the CDFI Fund will accept questions regarding the FY 2022 application period for the CDFI Bond Guarantee Program is April 13, 2022, at 11:59 p.m. ET. All questions must be submitted electronically to the program office at firstname.lastname@example.org.
Qualified Issuer Applications and Guarantee Applications received in FY 2021 that were neither withdrawn nor declined in FY 2021 will be considered under the FY 2022 authority.
Learn About Applying to the CDFI Bond Guarantee Program
To ensure potential Qualified Issuer and Guarantee applicants have the information needed to consider whether to apply this round, the CDFI Fund will conduct a webinar that will highlight important information for potential applicants and qualified issuers to understand when applying for the BG Program. The webinar will last four hours, with the last 60 minutes reserved to answer any questions that potential applicants may have. The CDFI Fund will post the presentation in advance of the webinar, and registration is not required to participate.
|Date & Time||Conference||Access Link|
|Application Webinar with Q & A||March 10, 2021|
1:00-5:00 pm ET
Viewing the webinar requires the use of WebEx. To download the WebEx Event Manager, see the instructions on the Verizon’s WebEx Downloads page.
Requests for reasonable accommodations under section 504 of the Rehabilitation Act for either the webinar or conference call should be directed to Jay Santiago at (202) 653-0300 no later than 48 hours before the conference call begins.
For more information about the CDFI Bond Guarantee Program, please visit www.cdfifund.gov/bond, or email the CDFI Fund’s Help Desk at email@example.com.