Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies

Federal bank regulatory agencies today made available the 2022 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration pursuant to the definition of community development under the agencies’ regulations. Visit the Federal Financial […]

CDFI Fund: $26 Million in BEA Funds Awarded to Banks that Increased Investments in Severely Distressed Communities

Recipients Collectively Increased Lending and Services to Nation’s Most Distressed Areas by over $1.1 billion The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today $26 million in awards to 158 FDIC-insured banks, through the fiscal year (FY) 2021 round of the Bank Enterprise Award […]

CDFI Fund: Application Demand for FY 2021 Round of BEA Program Released

Over $1.1 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) 2021 round of its Bank Enterprise Award Program (BEA Program). A […]

CDFI Fund: $180.3 Million Awarded to Support CDFI Investment in Low-Income and Distressed Communities

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 265 Community Development Financial Institutions (CDFIs) $180.3 million in Financial Assistance (FA) awards today. The awards, through the fiscal year (FY) 2021 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American […]

HUD: $3.6 Million Awarded for Neighborhood Revitalization Plans in Eight Communities

The U.S. Department of Housing and Urban Development (HUD) on Monday announced $3.6 million has been awarded to eight communities to support comprehensive neighborhood revitalization plans to redevelop severely distressed HUD-assisted housing, improve outcomes for residents, and bring new amenities to neighborhoods. HUD has named Annapolis, Maryland; Augusta, Georgia; Brownsville, […]

HUD: More than $2 Billion Allocated to Advance Equitable Disaster Recovery, Build Climate Change Resilience

The U.S. Department of Housing and Urban Development today announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery (CDBG-DR) and CDBG-Mitigation (CDBG-MIT) funds appropriated in the continuing resolution, the Extending Government Funding and Delivering Emergency Assistance Act (PL 117-43; the Act), signed into law on September 30, […]

SBA: Community Navigator Pilot Program Grantees Announced

51 Grantees Selected Nationwide to Serve as Hubs Connecting Disadvantaged Small Businesses with Government Resources  Today, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman  announced grantees for the Biden-Harris Administration’s Community Navigator Pilot Program, an American Rescue Plan initiative designed to reduce barriers that all small businesses, including those owned by disadvantaged groups such as veterans, women, and those from rural communities and communities of color, often face in accessing critical support. The Community Navigator Pilot Program will provide $100 million in funding to 51 organizations that will work with hundreds of local groups to connect America’s […]

CDFI Fund: FY 2021 Funding Round Opened for the Bank Enterprise Award Program

Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2021 funding round for the Bank Enterprise Award Program (BEA Program). Application materials are now available on the BEA Program page of the CDFI Fund’s websitein anticipation of the publication of the […]

CDFI Fund: AmeriCorps and CDFI Fund Launch Economic Mobility Corps

More than $2.5 million invested to place 156 AmeriCorps members for two years in Community Development Financial Institutions AmeriCorps and the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund) today announced three Community Development Financial Institutions (CDFIs) were awarded more than $2.5 million through the inaugural round of the AmeriCorps […]

FDIC & Federal Reserve: List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies Released

The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation today announced the availability of the 2021 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the […]