Last week the CDFI Fund released the long-awaited Notice of Guarantee Availability (NOGA) and application documents for the inaugural round of the CDFI Bond Guarantee Program. Applications for the program will be accepted through 11:59 PM EDT on Wednesday, July 17, 2013. The CDFI Bond Guarantee Program was first enacted through the Small Business Jobs […]
The CDFI recently released additional guidance on the review process for applications submitted as part of a major recertification process announced earlier this year. The CDFI Fund’s mandatory recertification guidelines affect more than 700 certified CDFIs whose original or last date of CFDI certification occurred at least three years ago. The new FAQ addresses a […]
Earlier this week the CDFI Fund announced the availability of approximately $17.1 million in funding for the Bank Enterprise Award (BEA) program. The BEA Program supports FDIC-insured financial institutions around the country that are dedicated to financing and supporting community and economic development activities. The BEA Program complements the community development activities of insured depository […]
As the CDFI Fund wraps up its Innovations in Small Business Lending training series, FUND recently participated in a webinar on the training and reference materials available in its small business lending resource bank. Whether you are an emerging organization or an established small business lender, the resource bank has a wealth of information that […]
In the spirit of collaboration, FUND Consulting welcomed the opportunity to provide some insight into the recent CDFI recertification application and process, in a letter to the CDFI Fund: Mr. Robert Mulderig Program Manager Certification, Compliance, Monitoring and Evaluation Office Community Development Financial Institutions Fund U.S. Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, DC […]
The CDFI Fund has released the long-anticipated interim rule on the CDFI Bond Guarantee Program. The interim rule was published in the Federal Register on Tuesday, February 5 and the CDFI Fund seeks public comment on the rule through April 8, 2013, at which time the rule will go into effect. The CDFI Bond Program […]
Earlier this week, the CDFI Fund released mandatory recertification guidelines that will affect the majority of certified CDFIs. As part of this mandatory recertification process, the CDFI Fund has released a new application and updated their investment area mapping system based on 2006-2010 American Community Survey (ACS) data from the U.S. Census Bureau. Under the […]
With more than 1,000 certified CDFIs across the country serving a wide range of markets and communities, what does the impact of CDFIs look like at the local level? This is a question that the Support Center, a statewide nonprofit and CDFI in North Carolina explores in a recent report, CDFIs in North Carolina: Creating […]
Just after the start of the new year President Obama signed the “fiscal cliff” legislation, which included an extension of the New Markets Tax Credit (NMTC) Program for 2012 and 2013. The bill gives the CDFI Fund tax allocation authority of $3.5 billion in each year. Currently, the CDFI Fund is reviewing applications submitted during […]
Today the CDFI Fund opened the FY 2013 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance (NACA) programs. Awards under the CDFI and the NACA Program help to support CDFIs and expand their capacity to provide access to credit, capital, and financial services to low-income communities and […]