July 15, 2022

CDFI Fund: FY 2022 CDFI Equitable Recovery Program Application Deadline Extended through August 23rd

On June 23, 2022, the Community Development Financial Institutions Fund (CDFI Fund) announced the opening of the FY 2022 CDFI Equitable Recovery Program (ERP) round with the public release of a Notice of Funds Availability (NOFA). The NOFA set forth the deadline for submitting the FY 2022 CDFI ERP Application via the CDFI Fund’s Award Management Information System (AMIS) as 11:59 p.m. Eastern Time on August 23, 2022.

The CDFI Fund will be extending the upcoming deadline to submit CDFI ERP Applications in AMIS to September 22, 2022, at 11:59 p.m. ET. Additionally, the CDFI Fund will be extending the deadline to submit the OMB Standard Form-424 Mandatory via Grants.gov to August 18, 2022. This extension will provide organizations additional time to undertake a thorough review of the CDFI ERP Application requirements and prepare their Application submissions. The CDFI Fund continues to encourage all FY 2022 applicants to submit their CDFI ERP Applications as soon as possible to ensure a successful submission.

An additional webinar will be held to discuss updates to the Application FAQs, available new materials, and to take additional questions. The CDFI Fund will provide separate information on this upcoming webinar.

In addition to the deadline extensions, the CDFI Fund is also amending the NOFA to clarify eligibility requirements around audited financial statements. Loan funds, venture capital funds, and other Non-Regulated Institution Applicants are required to have audited financial statements for their two most recent historic fiscal years. However, if the audit for the Applicant’s most recent historic fiscal year is not complete as of the due date of the AMIS Application, the Applicant must have audited financial statements for its two historic fiscal years prior to its most recent historic fiscal year. Regulated Institution Applicants that file Call Reports to their regulator are exempt from the requirement to have audits.

The CDFI Fund is releasing updated deadlines in anticipation of the publication of an amended NOFA in the Federal Register on July 19, 2022.

The new deadlines are:

Updated Guidance

All of the guidance, application materials, reference documents, and webinar information for the FY 2022 CDFI ERP application round are available on the CDFI ERP page. The following materials have been added or updated on the CDFI Fund’s website since the application release on June 23, 2022:

The CDFI Fund will continue to update the application materials section of the CDFI ERP webpage as needed throughout the application round. Please refer back to the CDFI Fund’s website for updates.

For more information about FY 2022 CDFI Equitable Recovery Program Application, please visit www.cdfifund.gov/erp. For questions related to CDFI ERP, please submit a Service Request through your AMIS account, by emailing erp@cdfi.treas.gov, or calling (202) 653-0421. 

This post was originally published here.