Community Development Financial Institutions Rapid Response Program (CDFI RRP)


To support the ability of Community Development Financial Institutions (CDFIs) to support, prepare for, and respond to the economic impact of the coronavirus.

General information about this opportunity
Last Known Status
Program Number
Federal Agency/Office
Community Development Financial Institutions Fund, Department of The Treasury
Type(s) of Assistance Offered
B - Project Grants
Program Accomplishments
Not applicable.
The Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (P.L. 116-260), Title Coronavirus Response and Relief Supplemental Appropriations Act of 2021
Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
Only certified CDFIs are eligible to apply for CDFI RRP awards. No awards may be issued to Federal Government agencies, departments or instrumentalities, State governments local governments or any agency or instrumentality thereof.
Beneficiary Eligibility
Investment Areas and Targeted Populations, as defined in 12 C.F.R. 1805.
An organization wishing to apply for an award through the CDFI RRP must be a certified CDFI prior to the date of the release of the NOFA.
What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is not applicable.
Application Procedure
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. The application process is closed.
Award Procedure
No new awards will be made in FY 2024.
Contact the headquarters or regional location, as appropriate for application deadlines
Approval/Disapproval Decision Time
No new awards will be made in FY 2024.
Not applicable.
Not applicable.
How are proposals selected?
Not applicable.
How may assistance be used?
CDFI RRP awards enhance the Recipient's ability to make loans and investments and to provide financial services that promote economic revitalization and community development.
What are the requirements after being awarded this opportunity?
Performance Reports: 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. FA recipients are also required to submit Transaction Level Reports (TLR) (OMB Control Number 1559-0027). The Annual Certification and Data Collection Report (ACR) (OMB Control Number 1559-0046) is submitted by certified CDFIs. The ACR requires a certified CDFIs 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 uses this report to monitor the certified CDFI’s compliance with certification criteria and collect data to gain greater insight into the CDFI industry.
In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, nonfederal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503
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 requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Not Applicable. No new awards. Not Applicable. No new awards.
Who do I contact about this opportunity?
Regional or Local Office
None/Not specified.
Headquarters Office
Community Development Financial Institutions Fund
1500 Pennsylvania Avenue, N.W.
Washington, DC 20220 US
Phone: 2026530300
Website Address
Financial Information
Account Identification
(Project Grants) FY 22$0.00; FY 23 est $0.00; FY 24 est $0.00; -
Range and Average of Financial Assistance
The range of CDFI RRP awards is in 2021 was $200,000 to $1,826,265. The average CDFI RRP Award is $1,445,335.
Regulations, Guidelines and Literature
The Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (P.L. 116-260) NOFA; and application materials.
Examples of Funded Projects
Not applicable.


Federal Grants Resources