CDFI Fund: Target Market Waiver Extended for Lending Under Round Three of Paycheck Protection Program
Target Market Waiver Extended for Lending Under Round Three of Paycheck Protection Program The U.S. Treasury Department and Small Business Administration (SBA) recently announced the reopening of a third round of the Paycheck Protection Program with $284 billion in funding that was authorized by the Coronavirus Response and Relief Supplemental Appropriations Act (Pub. L. 116-260). This includes…
CDFI Fund: Question and Answer Sessions Scheduled for 2021 ACR Reporting Cycle
In light of substantive changes that have been made to its Annual Certification and Data Collection Report (ACR) for the 2021 reporting cycle, the Community Development Financial Institutions Fund (CDFI Fund) will be conducting quarterly conference calls to respond to questions specifically related to the ACR. The quarterly conference calls are intended to serve as a forum…
SBA: PPP Re-Opened to Community Financial Institutions First
Community Financial Institutions get dedicated access starting January 11, 2021 The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, re-opened the Paycheck Protection Program (PPP) loan portal today at 9 am ET. SBA is continuing its dedicated commitment to underserved small businesses and to addressing potential access to capital barriers by initially granting PPP access…
SBA: PPP Re-Opening and New Guidance Announced
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday,…
CDFI Fund: Public Comments Requested on Capital Magnet Fund Application and Annual Performance Report
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the Community Development Financial Institutions Fund (CDFI Fund),…
CDFI Fund: Public Comments Sought on NMTC Program Allocation Application
The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Pub. L. No. 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently,…
CDFI Fund: Revised ACR Guidance Information Now Available
The Community Development Financial Institutions Fund (CDFI Fund) has released updated information for Certified Community Development Financial Institutions (CDFIs) regarding the Annual Certification and Data Collection Report (ACR). The ACR, which must be completed by all Certified CDFIs on annual basis, allows the CDFI Fund to assess CDFIs’ compliance with Certification guidelines and collect data…
CDFI Fund: Application Demand for 2020 Round of NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 208 applications under the 2020 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development Entities (CDEs) for…
FDIC: Financial Advisors Sought to Establish New “Mission-Driven Bank Fund” to Support FDIC-Insured Minority Banks and CDFIs
The Federal Deposit Insurance Corporation (FDIC) today announced a competition to choose one or more experienced financial advisors to support the development of a new Mission-Driven Bank Fund. The Fund will provide a vehicle for private sector and philanthropic investment in FDIC-insured Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs). The selected financial advisor(s)…
CDFI Fund: Upcoming Webinar Scheduled on Preparing for the FY 2021 CDFI and NACA Program Application Round
It’s never too early to start getting ready for the next application round! The Community Development Financial Institutions Fund (CDFI Fund) is tentatively planning to open the fiscal year (FY) 2021 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) application round in early 2021. To help your organization…