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…
CDFI Fund: Updated Eligiblity Data for the New Markets Tax Credit Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today updated Eligibility Data for the New Markets Tax Credit Program (NMTC Program). The update of this information—based on more recent, Census Bureau 2016-2020 American Community Survey (ACS) 5-year estimates data—is part of a larger effort to ensure that the data used to…
CDFI Fund: Summary Report and Public Data for NMTC Program for FYs 2003-2021 Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released a summary report and data collected on all New Markets Tax Credit (NMTC) investments across the nation through the fiscal year (FY) 2021 reporting period. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations…
CDFI Fund: Application Demand Released for FY 2023 Round of BEA Program
Nearly $1.05 Billion in Increased Investments, Lending and Services in Highly Distressed Communities and to CDFIs The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the application data for the fiscal year (FY) 2023 round of its Bank Enterprise Award Program (BEA Program). A total of 189 applications were…
CDFI Fund: CDFI Award Recipients Required to Comply with New Civil Rights Act Compliance Reporting Requirements
Award applicants required to complete a new Title VI Compliance Worksheet The Civil Rights Act of 1964, which ended segregation in public places and banned employment discrimination on the basis of race, color, religion, sex or national origin, also prohibits discrimination on the basis of race, color, or national origin in programs or activities receiving…