| CDFI Fund Request for Information: Small Dollar Loan Program | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=388 | CDFI Fund Request for Information: Small Dollar Loan Program | <p>The Community Development Financial Institutions Fund (CDFI Fund) is
<a href="https://www.govinfo.gov/content/pkg/FR-2020-07-27/pdf/2020-16213.pdf" target="_blank">currently seeking information</a> from Certified Community Development Financial Institutions (CDFIs), Federally Insured Depository Institutions, trade organizations, and the general public about the Small Dollar Loan Program (SDLP). </p><p>Authorized by the
<a href="https://www.congress.gov/111/plaws/publ203/PLAW-111publ203.pdf" target="_blank">Dodd-Frank Wall Street Reform and Consumer Protection Act</a> (P.L. 111-203), SDLP was established to provide grants for Loan Loss Reserves (LLRs) and Technical Assistance (TA) to enable Certified CDFIs to establish and maintain small dollar loan programs. Small dollar loans are defined as loans that do not exceed $2,500. Program funding is intended to help Certified CDFIs provide an alternative to high-cost small dollar loans. It is also intended to help unbanked and underbanked populations build credit, access affordable capital, and allow greater access into the mainstream financial system. </p><p>The CDFI Fund received $5 million for the SDLP under the Consolidated Appropriations Act, 2020 (P.L. 116-93). The first Notice for Funding Availability (NOFA) and Application are anticipated to be released in fiscal year 2021. Eligible applicants, per the SDLP statute (12 U.S.C. § 4719), will be limited to Certified CDFIs and partnerships between such Certified CDFIs and any other Federally Insured Depository Institution with a primary mission to serve targeted Investment Areas. An applicant can request SDLP grants for LLRs, TA, or both. SDLP grants cannot be used to provide direct loans to consumers. </p><p>The CDFI Fund is currently seeking information regarding, but not limited to, the following:</p><ul><li><p>the characteristics of small dollar loan program policies and practices; </p></li><li><p>the proposed definitions of key terms for the CDFI Fund's SDLP;</p></li><li><p>the SDLP program Application, including what questions should be asked regarding the consumer need and environment, track record, business plan, and technical assistance strategy of the applicants;</p></li><li><p>the minimum and maximum award sizes for the SDLP; </p></li><li><p>the impact of regulatory requirements and restrictions on SDLP applicants; </p></li><li><p>the specific types of entities eligible to apply to the SDLP, including Community Partnerships; </p></li><li><p>the CDFI Fund's evaluation criteria for measuring a successful Application to the SDLP; and </p></li><li><p>the CDFI Fund's performance goals, compliance, and reporting requirements for the SDLP. </p></li>
</ul><p>Please review the Request for Information in the Federal Register for the complete list of topics that the CDFI Fund is seeking input on regarding the Small Dollar Loan Program. Comments should be submitted via email to Mia Sowell, Acting Program Manager, Small Dollar Loan Program, CDFI Fund, at
<a href="mailto:cdfihelp@cdfi.treas.gov">cdfihelp@cdfi.treas.gov</a>, or via Service Request in the Awards Management Information System, by September 10, 2020 to be considered by the CDFI Fund. </p><p>
<strong>Related Materials</strong></p><ul><li>
<a href="https://www.govinfo.gov/content/pkg/FR-2020-07-27/pdf/2020-16213.pdf" target="_blank">Federal Register Notice</a></li></ul> | 2020-07-24T04:00:00Z | Updates | 388 | | |
| Public Comment Period Extended for CDFI Certification Application, ACR, and CTLR | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=387 | Public Comment Period Extended for CDFI Certification Application, ACR, and CTLR | <p><em>Deadline to Submit Responses to CDFI Fund Now November 5, 2020</em></p><p>The Community Development Financial Institutions Fund (CDFI Fund)
<strong>will extend</strong> the deadline to submit comments in response to its
<a href="/news-events/Pages/news-detail.aspx?NewsID=378&Category=Updates">solicitation</a> for public feedback on a revised Community Development </p><p>Financial Institution (CDFI) Certification Application, Annual Certification and Data Collection Report (ACR), and new Certification Transaction Level Report (CTLR). The CDFI Fund is releasing the updated deadlines in anticipation of the publication of an Extension of Comment Period in the Federal Register. The new deadline to submit comments for the<strong> </strong>CDFI Certification Application, ACR, and CTLR is
<strong>November 5, 2020</strong>.</p><p>The CDFI Fund is providing this extension to allow organizations additional time to prepare their comments. The original deadline to submit responses to the request for public comment was August 5, 2020.</p><p>
<strong>Additional Information</strong></p><p>The CDFI Fund has developed a
<a href="/programs-training/certification/cdfi/Pages/CertificationPRA.aspx">dedicated page</a> on its website with more information about the revised CDFI Certification Application and reporting forms. The page contains Federal Register notices; explanatory and reference material; and recorded webinars outlining the proposed changes to the CDFI Certification Application, ACR, and the new CTLR.
<strong>Members of the public are encouraged to review the information on the webpage in its entirety prior to the submission of comments.</strong> </p><p>In addition, the CDFI Fund is collecting requests for
<strong>clarification only</strong> of terms and procedures contained in the proposed CDFI Certification Application, ACR, and CTLR. Requests for clarification will be reviewed for inclusion in a Frequently Asked Questions (FAQs) document that will be released to the public at a later date.
<br></p><ul><li><p>
<em>Requests for clarification regarding the </em>
<em>
<strong>CDFI Certification Application</strong></em><em> should be submitted to</em>:<strong> </strong>Tanya McInnis, Program Manager for the Office of Certification, Compliance Monitoring and Evaluation, CDFI Fund, at
<a href="mailto:ccme@cdfi.treas.gov">ccme@cdfi.treas.gov</a>.
</p></li><li><p>
<em>Requests for clarification regarding the </em>
<em>
<strong>ACR and CTLR</strong></em><em> should be submitted to</em>: Greg Bischak, Financial Strategies and Research Program Manager, CDFI Fund, at
<a href="mailto:CDFI-FinancialStrategiesandResearch@cdfi.treas.gov">CDFI-FinancialStrategiesandResearch@cdfi.treas.gov</a>.</p></li></ul><p>
<strong>Related Materials</strong></p><ul><li><p>
<a href="/programs-training/certification/cdfi/Pages/CertificationPRA.aspx">CDFI Certification, ACR, & CTLR Comment Resources Page</a></p></li><li><p><a href="https://www.govinfo.gov/content/pkg/FR-2020-07-27/pdf/2020-16196.pdf" target="_blank">Federal Register Notice: CDFI Certification Application Comment Extension</a></p></li><li><p><a href="https://www.govinfo.gov/content/pkg/FR-2020-07-27/pdf/2020-16195.pdf" target="_blank">Federal Register Notice: ACR and CTLR Comment Extension</a></p></li></ul><p>
<br>
</p> | 2020-07-21T04:00:00Z | Updates | 387 | | |
| New CDFI FA, NMTC AMIS Compliance and Reporting Forms Available in August | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=386 | New CDFI FA, NMTC AMIS Compliance and Reporting Forms Available in August | <p>
<em>Late TLR Submitters have until July 31</em><em><sup>st</sup></em><em> to Submit using Current TLR Template</em></p><p>The Community Development Financial Institutions Fund (CDFI Fund) is deploying new Transaction Level Report (TLR) templates for use by Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) Financial Assistance (FA) and New Markets Tax Credit Program (NMTC Program) Recipients. The updated templates will be available for use in the Awards Management Information System (AMIS) beginning August 1, 2020. Organizations will be able to access the new templates through the "Reports" tab in AMIS. </p><p>
<strong>Please note that those organizations that will be submitting their 2019 TLR late (after the due date indicated in their AMIS reporting schedule), but would like to do so using their current TLR template, must submit and certify their 2019 report by July 31, 2020. Any organizations that submit their 2019 report after July 31, 2020 must use the updated TLR template.</strong></p><p>The CDFI Fund will provide updated guidance materials for the new TLR templates in early August. The new templates and guidance will permit organizations to update their loan processing software to align with the revisions in the respective TLR templates. </p><p>For additional information or questions, please contact the CDFI Fund's Certification and Compliance Help Desk via email at
<a href="mailto:ccme@cdfi.treas.gov">ccme@cdfi.treas.gov</a>, phone at (202) 653-0421, or through an AMIS Service Request.</p> | 2020-07-17T04:00:00Z | Updates | 386 | | |
