The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) this week released its FY14 Notice of Funds Availability (NOFA) for the Community Development Financial Institutions Program (CDFI Program). Though final amounts available to make awards are subject to final appropriations, the Administration’s FY14 Budget for the CDFI Fund requests up to $191 million in Financial Assistance (FA) and Technical Assistance (TA) awards.
What is the CDFI Program?
Through the CDFI Program, the CDFI Fund invests in and builds the capacity of CDFIs to serve low-income people and communities lacking adequate access to affordable financial products and services. The CDFI Fund invests in certified CDFIs by awarding Financial Assistance awards to applicants who have demonstrated the financial and managerial capacity to provide financial products and services to a low-income target market and to leverage additional resources effectively. Through Technical Assistance grants, the CDFI Fund enables certified CDFIs and emerging entities working toward certification to build their capacity as lending institutions.
In FY 2014, the Healthy Food Financing Initiative will serve as a supplemental funding opportunity under the CDFI Program for eligible CDFIs that express an interest in expanding their healthy food-focused financing activities and are selected to receive Financial Assistance awards under the FY 2014 round of the CDFI Program.
During its last round of funding, CDFI awarded 191 organizations Financial Assistance and Technical Assistance awards totaling over $172 millio. This amount also includes 10 awards totaling more than $22 million through the Healthy Food Financing Initiative. [View Past Awardees]
Application Details:
Reference copies of the NOFAs and all application materials can be found on the CDFI Fund’s website. All applicants must be registered in SAM.gov, Grants.gov, and myCDFIFund to apply for funding. The deadline for submission of the CDFI Program application is December 23, 2013 at 12:00 PM EST.