Community Development Financial Institutions Program
To promote economic revitalization and community development through investment in and assistance to Community Development Financial Institutions (CDFIs).
General information about this opportunity
Last Known Status
Community Development Financial Institutions Fund, Department of The Treasury
Type(s) of Assistance Offered
B - Project Grants
Fiscal Year 2017
Please visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.Fiscal Year 2018
Visit the CDFI Fund website for information on program accomplishments. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Riegle Community Development and Regulatory Improvement Act of 1994, 12 U.S.C. 4701 et. seq.
Who is eligible to apply/benefit from this assistance?
Only certified CDFIs are eligible to apply for Financial Assistance awards. Certified CDFIs and entities seeking to become certified CDFIs may apply for Technical Assistance awards. No awards may be issued to Federal Government agencies, departments or instrumentalities, State governments local governments or any agency or instrumentality thereof.
Investment Areas and Targeted Populations, as defined in 12 C.F.R. 1805.
An organization wishing to apply for a Financial Assistance (FA) award through the CDFI Program must be either a certified CDFI or be able to be certified by the CDFI Fund at the time of application. Both certified CDFIs and non-certified CDFIs are eligible to apply for Technical Assistance (TA) awards. However, non-certified organizations must be able to become certified within three years after receiving a TA award.
What is the process for applying and being award this assistance?
Preapplication coordination is not applicable.
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Each applicant must complete a CDFI Program Application which includes a Comprehensive Business Plan.
The CDFI Fund reviews applications and makes awards based on an established awards review process, set forth in the Notice of Funds Availability (NOFA) and application materials.
Contact the headquarters or regional location, as appropriate for application deadlines
Approval/Disapproval Decision Time
Application deadlines are from 30 to 60 days subsequent to the NOFA publication date. Award approval/disapproval determinations may be made within 270 days after the application deadline.
How are proposals selected?
Evaluation factors include: (1) financial strength and organizational capacity of applicant, (2) business plan review, (3) community impact, and (4) other factors set forth in the CDFI Program regulations, NOFA and application materials.
How may assistance be used?
Financial Assistance (FA) awards enhance the Recipient's ability to make loans and investments and to provide financial services that promote economic revitalization and community development. Technical Assistance (TA) awards build the Recipient's internal capacity.
What are the requirements after being awarded this opportunity?
Performance Monitoring is also accomplished with the financial review of Audited Financial Statements or Single Audits conducted pursuant to 2 C.F.R. 200, Subpart F - Audit Requirements. The Annual Certification and Data Collection Report (ACR) is submitted by certified organizations that receive CDFI Program award funds. The ACR requires a certified organization to annually assess and report on any changes to criteria supporting its CDFI certification, as well as some additional organizational financial, and other data. The CDFI Fund will use this report to monitor the certified organization’s compliance with certification criteria and collect data to gain greater insight into the CDFI industry.
Award recipients must maintain records to substantiate total costs incurred and to ensure that all Performance Goals and Measures are met. Records must be retained in accordance with the provisions of applicable OMB guidance and the terms of the assistance agreement.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.
Matching is mandatory. CDFI Program applicants are required to match Financial Assistance awards dollar-for-dollar with non-federal funds of the same type as the award itself, unless waived by Congress in the appropriations.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Recipients must use all FA funds within three years and TA funds within two years, unless the Recipient is uncertified then it must use all TA award funds within three years. Method of awarding/releasing assistance is either lump sum or in multiple disbursements based on the projected use in upcoming twelve months.
Who do I contact about this opportunity?
Regional or Local Office
Community Development Financial Institutions (CDFI) Program
1500 Pennsylvania Avenue, N.W.
Washington, DC 20220 US
(Project Grants) FY 18$187,741,119.00; FY 19 est $182,000,000.00; FY 20 est $182,000,000.00; FY 17$192,934,431.00; FY 15$160,296,627.00; FY 16$148,157,493.00; FY 14$160,831,795.00; -
Range and Average of Financial Assistance
FY 2018 Range of Financial Assistance Awards was $125,000 to $1,525,000; FY 2018 Small and/or Emerging CDFI Assistance (SECA) Average Financial Assistance Awards were $394,680; FY 2018 Core Average Financial Assistance Award was $837,194, which included Base-FA, Persistent Poverty Counties-FA and Disability Funds-FA awards. FY 2018 Range of Technical Assistance Awards was $59,550 - $125,000; FY 2018 Average Technical Assistance Awards were $118,776. FY 2018 Range of Healthy Food Financing Initiative (HFFI) Assistance Awards was $500,000 - $3,000,000; FY 2018 Average HFFI Assistance Awards were $1,571,429.
Regulations, Guidelines and Literature
Interim Rule (12 C.F.R. 1807); NOFA; and application materials.
Examples of Funded Projects
Fiscal Year 2017
Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.Fiscal Year 2018
Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.