2020 Year in Review

By The Numbers

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$3.9 billion

invested in America’s disadvantaged communities since 1994.

Since its inception in 1994, the CDFI Fund awarded $61 billion in tax credit allocation authority through the New Markets Tax Credit Program, and guaranteed more than $1.7 billion in bonds through the CDFI Bond Guarantee Program.

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The nationwide network of Certified CDFIs includes
1,140 organizations
with assets totaling more than
$173 billion.

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CDFIs maintain a total portfolio of outstanding Financial Products of more than

$141 billion.

Of this, over 65% of CDFIs’ financial products — more than $92 billion — are deployed in their target markets.

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Continued Growth

In fiscal year (FY) 2020, the CDFI Fund continued to build on its strong record of investing in low-income communities.

$548.9 million

in loans and grants awarded to CDFIs

$100 million

in bonds guaranteed through the CDFI Bond Guarantee Program.

$3.5 billion

in tax credits allocated through the New Markets Tax Credit Program.

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FY 2020 Program Performance

Bank Enterprise Award Program

The Bank Enterprise Award Program (BEA Program) provides monetary awards to federally insured banks and thrifts that demonstrate increased lending, investment, and service activities in the most economically distressed communities and/or in CDFIs. Nearly $25.2 million was awarded to 138 depository institutions.

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They increased their loans and investments in distressed communities by

$365.2 million

and their loans, deposits, and technical assistance to CDFIs by $43.3 million.

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Capital Magnet Fund

The Capital Magnet Fund (CMF) provides monetary awards to CDFIs and nonprofit affordable housing organizations for the development, preservation, rehabilitation, and purchase of affordable housing and for related economic development in low-income communities. 38 organizations received awards totaling $130.9 million. They are projected to leverage an estimated

$4 billion in public and private investment

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and to develop more than 22,400 affordable housing units, 98% of them for low-income families.

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CDFI Bond Guarantee Program

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The CDFI Bond Guarantee Program provides a source of long-term capital for CDFIs by guaranteeing bonds issued to support CDFIs that make investments for eligible community or economic development purposes. During the FY 2020 round of the CDFI Bond Guarantee Program, the CDFI Fund guaranteed $100 million in bonds. Since the inception, the CDFI Fund has completed six rounds of the program and has guaranteed more than

$1.7 billion in bonds

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for a wide range of projects in low-income urban, rural, and Native communities throughout the nation.

 
 
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CDFI Program

The Community Development Financial Institutions Program (CDFI Program) provides Financial Assistance (Base-FA) and Technical Assistance (TA) awards to help certified and emerging CDFIs sustain and expand their services and build their technical capacity.

CDFI Program award recipients reported originating more than one million loans and investments totaling more than

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$25.4 billion

based on their portfolio of activities in 2019

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Native Initiatives

The Native Initiatives include the Native American CDFI Assistance Program (NACA Program), which provides Financial Assistance and Technical Assistance awards to build the capacity of CDFIs serving Native American, Alaska Native, and Native Hawaiian communities.

NACA Program award recipients reported originating more than 6,900 loans or investments totaling more than

$144.3 million

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New Markets Tax Credit Program

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The New Markets Tax Credit Program (NMTC Program) provides tax credit allocation authority to certified Community Development Entities (CDEs), enabling them to attract investment from the private sector and to invest the funds in low-income communities.

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76 CDEs received tax allocation authority totaling more than $3.5 billion. They are projected to make more than

$706 million

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in New Markets Tax Credit investments in nonmetropolitan counties.