A CDE is a domestic corporation or partnership that is an intermediary vehicle for the provision of loans, investments, or financial counseling in Low-Income Communities (LICs). Benefits of being certified as a CDE include being able to apply to the CDFI Fund to receive a New Markets Tax Credit (NMTC) allocation to offer its investors in exchange for equity investments in the CDE and/or its subsidiaries; or to receive loans or investments from other CDEs that have received NMTC allocations.
To become certified as a CDE, an organization must submit a CDE Certification Application to the Fund for review. The application must demonstrate that the applicant meets each of the following requirements to become certified:
- Be a legal entity at the time of application;
- Have a primary mission of serving LICs; and
- Maintain accountability to the residents of is targeted LICs.
For more detailed information, please refer to the documents in the Application section below.
CDE Certification Application Deadlines
CDE Certification Applications may be submitted at any time, except in the following circumstances:
- Applying for NMTC Allocation: postmarked on or before August 9, 2013
- Service Area Amendment Requests: August 9, 2013
- CDE Certification of Subsidiaries for meeting QEI issuance: October 1, 2013
NOTE: An organization that is currently certified as a CDFI by the CDFI Fund or designated as a Specialized Small Business Investment Company by the Small Business Administration automatically qualifies as a CDE and may register to become a CDE via the online registration link located in the myCDFIFund Account.
|Michelle Dickens ||Management Analyst ||(202) 653-0335 |
|Charlene Pierce ||Management and Program Analyst ||(202) 653-0343 |