| CDFI Fund Improves CDE Certification Application Process | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=323 | CDFI Fund Improves CDE Certification Application Process | <p>Continuing the modernization of its processes and systems, the Community Development Financial Institutions Fund (CDFI Fund) has improved the Community Development Entity (CDE) Certification Application in its Awards Management Information System (AMIS). The updated application is available now.</p><p>The new user-friendly format of the application in AMIS will provide for ease of completion and submission. Applicants should note that CDE certification criteria and questions are unmodified from the previous application form. </p><p>The CDFI Fund has prepared guidance to help applicants become familiar with the application and guide them through the technical aspects of completion and submission in AMIS. Updated application guidance and a pre-recorded webinar are available on the <a href="/cde" target="_blank">CDE Certification webpage</a> under the ‘How to Apply’ section by clicking on <a href="/programs-training/certification/cde/Pages/apply-step.aspx#step1" target="_blank">Step 1: Apply</a>.</p><p>Any questions regarding CDE Certification should be directed to the Certification and Compliance Help Desk at <a href="mailto:ccme@cdfi.treas.gov" target="_blank">ccme@cdfi.treas.gov</a> or at (202) 653-0423.</p><p>Questions related to the AMIS system can be directed to the Information Technology Support Help Desk through: an AMIS service request; email at <a href="mailto:AMIS@cdfi.treas.gov" target="_blank">AMIS@cdfi.treas.gov</a>; or phone at (202) 653-0422.</p>
| 2018-09-21T04:00:00Z | Updates | 323 | | |
| U.S. Treasury Awards $202.2 Million to Support Economic Growth in Low-Income Communities | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=321 | U.S. Treasury Awards $202.2 Million to Support Economic Growth in Low-Income Communities | <p>
<i>Funds to Support Community Development Investments in Distressed Rural, Urban, and Native Communities</i></p><p>
<b>Washington -</b> The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 302 Community Development Financial Institutions (CDFIs) $202.2 million in awards today. The awards, through the fiscal year (FY) 2018 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), will enable CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation. One-third of the awardees have committed to specifically serving Persistent Poverty Counties.</p><p>“The FY 2018 CDFI Program and NACA Program awardees will provide vital financial services and lending to low-income communities nationwide,” said CDFI Fund Director Annie Donovan. “The awards will also benefit Native Communities, areas of persistent poverty, and individuals with disabilities.” </p><p>For the FY 2018 CDFI Program round, the CDFI Fund awarded $165 million in Financial Assistance and Technical Assistance to 264 organizations in 45 states, the District of Columbia, and Puerto Rico. The CDFI Program invests in and builds the capacity of CDFIs to serve low-income people and communities lacking adequate access to affordable financial products and services. In addition, the CDFI Fund awarded $22 million to 14 CDFIs through the Healthy Food Financing Initiative Financial Assistance awards (HFFI-FA), a supplemental program designed to encourage investments in businesses that provide healthy food options for communities. The CDFI Fund also awarded $5 million to 15 CDFIs through the Disability Funds Financial Assistance awards (DF-FA), a supplemental program designed to help CDFIs finance projects and services that will assist individuals with disabilities. </p><p>For the FY 2018 round, the CDFI Fund received applications from 432 organizations requesting $334.9 million through the CDFI Program Financial Assistance and Technical Assistance awards, $75.3 million through the Healthy Food Financing Initiative, $45.4 million to serve Persistent Poverty Counties, and $15.2 million in Disability Funds Financial Assistance. </p><p>The CDFI Fund also awarded $15.1 million in FY 2018 NACA Program Financial Assistance and Technical Assistance to 38 organizations in 16 states. The program facilitates the creation and advancement of Native CDFIs. Organizations funded through the NACA Program serve a wide range of Native American, Alaska Native, and Native Hawaiian communities, and reflect a diversity of institutions in various stages of development, including: organizations in the early planning stages of CDFI formation; tribal entities working to certify an existing lending program; and established Native CDFIs in need of further capacity building assistance. The CDFI Fund received 53 applications requesting $33.7 million for the FY 2018 round. </p><p>View more information about the FY 2018 CDFI Program and NACA Program awardees below. </p><p>
<b>2018 CDFI Program and NACA Program Award Resources </b></p><ul><li><p>
<a href="/Documents/Final%202018%20CDFI%20Award%20Book%20091418.pdf" target="_blank">FY 2018 CDFI Program Award Book</a> </p></li><li><p>
<a href="/Documents/Final%202018%20NACA%20Award%20Book%20091418.pdf" target="_blank">FY 2018 NACA Program Award Book </a></p></li><li><p>
<a href="/Documents/FA%20Application%20Evaluation%20Process_announcement.pdf" target="_blank">CDFI Program and NACA Program Financial Assistance Application Evaluation Process </a></p></li><li><p>
<a href="/Documents/TA%20Application%20Evaluation%20Process_announcement.pdf" target="_blank">CDFI Program and NACA Program Technical Assistance Application Evaluation Process</a></p></li></ul><p>
<b>About the CDFI Fund </b></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $3 billion to CDFIs, community development organizations, and financial institutions through: the BEA Program; the Capital Magnet Fund, the Community Development Financial Institutions Program, including the Healthy Food Financing Initiative; the Financial Education and Counseling Pilot Program; and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated $54 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and closed guaranteed bonds in the amount of $1.36 billion through the CDFI Bond Guarantee Program. </p><p>To learn more about the CDFI Fund and its programs, please visit the CDFI Fund’s website at
<a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>. </p> | 2018-09-19T04:00:00Z | Press Releases | 321 | | |
| Treasury Guarantees $150 Million in CDFI Bond Funding | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=322 | Treasury Guarantees $150 Million in CDFI Bond Funding | <p><i>Since Inception, Over $1.5 Billion Guaranteed for Projects in Low-Income Communities</i></p><p>
<strong>Washington, DC – </strong>U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) announced today the issuance of a $150 million guarantee under the Community Development Financial Institutions (CDFI) Bond Guarantee Program. The guarantee was issued to the Community Reinvestment Fund, USA (CRF) on behalf of Clearinghouse Community Development Financial Institution (Clearinghouse) which is headquartered in Lake Forest, California. </p><p>To date, over $1.51 billion has been guaranteed since the inception of the program, which provides long-term, fixed-rate capital for projects in low-income urban, rural, and Native communities. </p><p> "With six rounds of bond issuances now under our belt, we are seeing the significant impact the CDFI Bond Guarantee Program is having in communities across the country," said CDFI Fund Director Annie Donovan. "From community facilities on Native lands, to housing for people with disabilities, to financing small businesses in both big cities and small towns across America –this program is creating real impact in places where it is needed most."</p><p>Established by the Small Business Jobs Act of 2010, the CDFI Bond Guarantee Program responds to a critical market need—low-cost capital to spur economic growth and jump start community revitalization. Under the program, Qualified Issuers (CDFIs or their designees) apply to the CDFI Fund for authorization to issue guaranteed bonds worth a minimum of $100 million. The bonds provide CDFIs with access to substantial long-term, fixed-rate capital to invest in distressed communities. </p><p>The program enables CDFIs to execute large-scale projects, including the development of commercial real estate, housing units, charter schools, small businesses, daycare or healthcare centers, and rural infrastructure projects, among other asset classes. </p><p>
<strong>About the CDFI Fund</strong></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $2.3 billion to CDFIs, community development organizations, and financial institutions through the Community Development Financial Institutions Program, the Native American CDFI Assistance Program, and the BEA Program. In addition, the CDFI Fund has allocated $54 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, guaranteed $1.512 billion in bonds through the CDFI Bond Guarantee Program, and awarded more than $291 million through the Capital Magnet Fund. </p><p>To learn more about the CDFI Fund and its programs, please view the Fact Sheet or visit the CDFI Fund's website at
<a href="http://www.cdfifund.gov/">
<span style="text-decoration:underline;">www.cdfifund.gov</span></a></p> | 2018-09-18T04:00:00Z | Press Releases | 322 | | |
