CDFI Fund: FY 2024 CDFI Program and NACA Program Application Round Opens
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2024 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) today. The awards from these programs will support Community Development Financial Institutions (CDFIs) that provide affordable financing…
CDFI Fund: Final Revised CDFI Certification Application Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released a revised Community Development Financial Institution (CDFI) Certification Application today. This CDFI Certification Application, as well as the Annual Certification and Data Collection Report (ACR) and Transaction Level Report (TLR), were approved by the Office of Management and Budget (OMB) and encompass…
CDFI Fund: Update to NMTC Program Compliance FAQs Released
The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Compliance Frequently Asked Questions (FAQs) document for the New Markets Tax Credit Program (NMTC Program) on its website. This document supersedes the December 2022 publication of the FAQs document by adding, revising, or updating select questions from the earlier edition. Updates include: The updated FAQ…
CDFI Fund: Advisory Board Will Hold Public Meeting Virtually on November 28th
The Community Development Financial Institutions Fund (CDFI Fund) is convening a public meeting of the Community Development Advisory Board (the Advisory Board) from 2:00 to 4:00 p.m. Eastern Standard Time on Tuesday, November 28, 2023. This meeting will be conducted virtually. The function of the Advisory Board is to advise the Director of the CDFI…
CDFI Fund: CY 2023 Round of New Markets Tax Credit Program Opens
$5 Billion in Allocation Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2023 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is posting the NOAA on its website in anticipation…
CDFI Fund: FY 2024 Application Round Opens for Small Dollar Loan Program
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2024 funding round for the Small Dollar Loan Program (SDL Program) today. SDL Program funding is intended to expand consumer access to financial institutions by providing alternatives to high-cost small dollar lending. The SDL Program funding is…
CDFI Fund: $321.2 Million in Capital Magnet Fund Awards Announced to Support Affordable Housing
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 52 organizations $321.2 million today for the development of affordable housing and community facilities serving low-income individuals, families, and communities. These awards were made through the fiscal year (FY) 2023 round of the Capital Magnet Fund (CMF), and will support financing…
CDFI Fund: $300 Million Bond Financing Guarantees Issued for Projects in Low-Income and Distressed Communities
U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that Treasury has agreed to issue three guarantees totaling $300 million under the Community Development Financial Institution (CDFI) Bond Guarantee Program. The guarantees will be issued on behalf of three Eligible CDFIs under the fiscal year (FY) 2023 round of the…
CDFI Fund: $5 Billion in New Markets Tax Credit Awards Announced
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credits today that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 102 Community Development Entities (CDEs) were awarded tax credit allocations, made through the calendar year (CY)…
CDFI Fund: $70 Million Awarded to Banks through BEA Awards to Increase Investment in Severely Distressed Communities
Recipients Collectively Increased Lending and Services to Nation’s Most Distressed Areas by over $970 million The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today $70 million in awards to 184 FDIC-insured banks, through the fiscal year (FY) 2023 round of the Bank Enterprise Award Program (BEA Program), for increasing…