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for the Future

Empowering America's ECONOMICALLY Distressed Communities

What does the CDFI Fund Do?

The Community Development Financial Institutions Fund (CDFI Fund) plays an important role in generating economic growth and opportunity in some of our nation’s most distressed communities. By offering tailored resources and innovative programs that invest federal dollars alongside private sector capital, the CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities. These mission-driven organizations are encouraged to apply for CDFI Certification and participate in CDFI Fund programs that inject new sources of capital into neighborhoods that lack access to financing.

Each business financed, each job created, and each home built represents a critical step in the transformation of a life, a family, and a community. This is real change. This is the CDFI Fund. Discover More >

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Bank Enterprise Award Programhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=1Bank Enterprise Award ProgramThe BEA Program provides awards to FDIC-insured institutions for eligible investments. The BEA Program provides awards to FDIC-insured institutions for eligible investments. /programs-training/Programs/bank_enterprise_award/Pages/default.aspx
CDFI Bond Guarantee Programhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=5CDFI Bond Guarantee Program The CDFI Bond Guarantee Program is a source of long-term, patient capital for CDFIs. The CDFI Bond Guarantee Program is a source of long-term, patient capital for CDFIs. /programs-training/Programs/cdfi-bond/Pages/default.aspx
CDFI Programhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=6CDFI ProgramThe CDFI Program provides Financial and Technical Assistance awards to CDFIs./programs-training/Programs/cdfi-program/Pages/default.aspx
Capacity Building Initiativehttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=2Capacity Building Initiative The Capacity Building Initiative is a source of training and technical assistance for CDFIs. The Capacity Building Initiative is a source of training and technical assistance for CDFIs. /programs-training/training-ta/Pages/default.aspx
Capital Magnet Fundhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=3Capital Magnet FundThe Capital Magnet Fund encourages the development of affordable housing in low-income communities.The Capital Magnet Fund encourages the development of affordable housing in low-income communities./programs-training/Programs/cmf/Pages/default.aspx
Native Initiativeshttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=7Native InitiativesThe Native Initiatives provides awards, training, and technical assistance to CDFIs serving Native Communities.The Native Initiatives provides awards, training, and technical assistance to CDFIs serving Native Communities./programs-training/Programs/native-initiatives/Pages/default.aspx
New Markets Tax Credit Programhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=8New Markets Tax Credit Program The New Markets Tax Credit encourages economic and community development in low-income communities. The New Markets Tax Credit encourages economic and community development in low-income communities. /programs-training/Programs/new-markets-tax-credit/Pages/default.aspx

Impact We Make

The vision of the Community Development Financial Institutions Fund (the CDFI Fund) is to economically empower America’s underserved and distressed communities.

View the CDFI Fund's Blog

 Announcements

 

 

CDFI Fund Opens FY 2018 Funding Round for Capital Magnet Fundhttps://www.cdfifund.gov/Lists/CDFI News/AllItems.aspxhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=308CDFI Fund Opens FY 2018 Funding Round for Capital Magnet Fund<p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2018 funding round for the Capital Magnet Fund. </p><p>Through the Capital Magnet Fund, the CDFI Fund competitively awards funds to CDFIs and qualified non-profit housing organizations. These awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities. The objective is to attract private capital to economically distressed communities, including underserved rural areas. Funding for the Capital Magnet Fund comes from allocations made by the Government-Sponsored Enterprises Fannie Mae and Freddie Mac and varies from year to year. The CDFI Fund plans to provide approximately $142.9 million in awards for the FY 2018 round.</p><p>Capital Magnet Fund awardees are able to utilize these funds for financing activities such as affordable housing funds, economic development funds, loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees. Recipients are required to leverage private and public funds to finance affordable housing and economic development activities that yield a minimum ratio of 10:1. </p><p>In order to provide potential applicants with as much time as possible, the CDFI Fund is posting the Notice of Funds Availability (NOFA) and application materials for the Capital Magnet Fund on the CDFI Fund’s website today in advance of the publication of the NOFA in the Federal Register later this week.</p><p> <b>Application Materials</b></p><p>The FY 2018 Capital Magnet Fund NOFA, application, application instructions, and related guidance can be found on the CDFI Fund’s website at <a href="http://www.cdfifund.gov/cmf" target="_blank">www.cdfifund.gov/cmf</a> under How to Apply Step 2: Apply. The application process consists of two parts: submitting the SF-424 form through Grants.gov, and submitting the rest of the application through the CDFI Fund’s Awards Management Information System (AMIS). </p><p style="text-decoration:underline;">Mandatory Accounts for Applicants</p><p>All applicants must be registered in SAM.gov, Grants.gov, and AMIS to apply for funding. Organizations should confirm that their accounts are up-to-date as soon as possible in order to avoid potential application submission problems. New applicants are encouraged to begin the registration process now. Recent procedural changes to SAM.gov mean that the registration process may take much longer than in previous years for both new applicants and repeat applicants that need to renew their SAM.gov accounts.</p><p>Registration guidance for Grants.gov and SAM.gov can be found on the websites for those systems. Guidance on using AMIS (including registration) can be found at <a href="https://amis.cdfifund.gov/" target="_blank">https://amis.cdfifund.gov/</a>. The CDFI Fund has also outlined basic steps about the registration process <a href="/impact/Pages/BlogDetail.aspx?BlogID=48" target="_blank">on its website</a>. </p><p style="text-decoration:underline;">Application Submission</p><p>The SF-424 is now available for submission through Grants.gov. The FY 2018 Capital Magnet Fund online application form is also currently available in AMIS. </p><p>The CDFI Fund strongly recommends that the instructions and application timelines are reviewed closely by both first-time and repeat applicants, and that all applicants give themselves adequate time to submit the required application materials through Grants.gov and AMIS. </p><p> <b>Deadlines</b></p><ul><li><p>The deadline for submission of the SF-424 is 11:59 pm Eastern Time (ET) on August 20, 2018. All applicants must submit their SF-424 electronically through Grants.gov. The CDFI Fund strongly encourages all materials to be submitted through Grants.gov at least three days before the deadline. </p></li><li><p>The deadline for creating an organizational account in AMIS is 11:59 pm Eastern Time (ET) on August 27, 2018.</p></li><li><p>The deadline for submission of the Capital Magnet Fund application materials through the CDFI Fund’s Award Management Information System (AMIS) is 5:00 p.m. ET on September 17, 2018. The CDFI Fund strongly encourages all materials to be submitted through AMIS at least three days before the deadline.</p></li><li><p>The CDFI Fund will stop taking questions about the application at 5:00 p.m. ET on September 13, 2018. </p></li></ul><p>Please see the NOFA for applicant eligibility requirements and the steps for submitting all parts of the Capital Magnet Fund application.</p><p> <b>Learn About Applying to the Capital Magnet Fund </b></p><p>The CDFI Fund will be conducting three targeted live webinars to provide a forum to answer applicant questions about the FY 2018 Capital Magnet Fund application. The first two webinars will provide an overview of the application for certified CDFIs and for non-profit affordable housing organizations; the third will provide a walkthrough of the AMIS application. Please view the <a href="/programs-training/Programs/cmf/Pages/apply-step.aspx#step2" target="_blank">Step 2: Apply </a>page of the Capital Magnet Fund website for the dates, times, and access information for each webinar.</p><p> <b>Questions</b></p><p>For more information on the Capital Magnet Fund, please submit a Service Request through AMIS, or contact the CDFI Fund’s Help Desk by e-mailing <a href="mailto:cmf@cdfi.treas.gov">cmf@cdfi.treas.gov</a> or by calling (202) 653-0421. The CDFI Fund will stop responding to questions about the FY 2018 award round at 5:00 p.m. ET on September 13, 2018. </p><p>To learn more about the CDFI Fund and its programs, please visit <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.  </p>2018-07-18T04:00:00ZUpdates308
Updated BEA Program Eligibility Criteria Based on 2011-2015 American Community Survey Census Datahttps://www.cdfifund.gov/Lists/CDFI News/AllItems.aspxhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=309Updated BEA Program Eligibility Criteria Based on 2011-2015 American Community Survey Census Data<p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today updated Eligibility Data for the Bank Enterprise Award Program (BEA Program).  The BEA Program Eligibility Data is being updated as part of a larger effort undertaken by the CDFI Fund to ensure that the data used to determine the eligibility for the programs that it administers is current.  The updated BEA Eligibility Data is based on more recent, Census Bureau 2011-2015 American Community Survey poverty and population data, and 2015 Bureau of Labor Statistics Current Population Survey unemployment data.</p><p>There will be a transition period for the updated BEA Program Eligibility Data.  Fiscal Year (FY) 2018 BEA Program Applicants will have the ability to use either the updated 2011-2015 BEA Eligibility Data or the legacy, 2006-2010 BEA Eligibility Data, to determine whether a transaction occurred in a qualified “BEA Distressed Community”.  Both data sets – updated and legacy – are available in the CDFI Fund’s Community Investment Mapping System and in tabular form on the CDFI Fund’s website.  Future applicants are advised that a full transition to the updated BEA Eligibility Data will take place for the FY 2019 BEA Program funding round.  Applicants applying in the FY 2019 BEA Program funding round will be required to exclusively use the updated BEA Eligibility Data to determine if a transaction or activity occurred in a qualified “BEA Distressed Community.”</p><p>Prior Award Recipients and prospective applicants are encouraged to review the BEA Program Eligibility Data Transition FAQ document.  A link has been provided below.  This document provides important information on the transition to the updated 2011-2015 BEA Eligibility Data.  A link has also been provided below to the tabular version of the updated BEA Eligibility Data.  </p><div><ul><li><p> <a href="/Documents/BEA%20Program%202011-2015%20ACS%20Eligibility%20Data%20-%20Transition%20FAQ.pdf">BEA Program Eligibility Data Transition FAQ</a> </p></li><li><p> <a href="/Documents/BEA%20Program%20Updated%202011-2015%20Eligibility%20Data.xlsx">BEA Program Updated 2011-2015 Eligibility Data</a></p></li> </ul></div>2018-07-17T04:00:00ZUpdates309
CDFI Fund Announces Nearly $22.8 Million in Bank Enterprise Awards for Increased Investment in Highly Distressed Communitieshttps://www.cdfifund.gov/Lists/CDFI News/AllItems.aspxhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=307CDFI Fund Announces Nearly $22.8 Million in Bank Enterprise Awards for Increased Investment in Highly Distressed Communities<p></p><p><strong>Washington</strong> – Today, the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) announced nearly $22.8 million in awards to 113 banks for increasing investments benefiting economically distressed communities across the nation. The awards were made through the fiscal year (FY) 2017 round of the Bank Enterprise Award Program (BEA Program).  The BEA Program is a performance-based grant program that provides monetary awards to FDIC-insured depository institutions that successfully demonstrate an increase in their investments in mission-driven lenders known as Community Development Financial Institutions (CDFIs), or in their own lending, investing, or service activities in highly distressed communities.</p><p>"These banks have not just increased their lending in economically distressed communities," said CDFI Fund Director Annie Donovan.  "They are lending in the <em>most highly distressed</em> communities where at least 30 percent of the population lives at or below the national poverty level and where the unemployment rate is at least 1.5 times the national average. I applaud their efforts to generate economic activity in some of the most underserved parts of the country."</p><p>Collectively, during the one-year assessment period, these 113 depository institutions increased their loans and investments in distressed communities by $470.4 million; increased their loans, deposits, and technical assistance to CDFIs by $18.6 million; increased the provision of financial services in distressed communities by $7.3 million; and increased their equity and equity-like loans and grants to CDFIs by $2.5 million.  </p><p>Furthering this impact, the nearly $22.8 million awarded today will be <em>re-invested</em> into highly distressed communities as well as CDFIs.  Of the 113 depository institutions awarded, 76 have committed to deploying approximately $3.73 million, or 16.4 percent of award dollars, in Persistent Poverty Counties exceeding the Congressional mandate of 10 percent.  The FY 2017 BEA Program award recipients were selected after a comprehensive review of 119 applications requesting $131.7 million in funding.  </p><p><strong>Related Materials</strong></p><ul style="list-style-type:disc;"><li><a href="/Documents/FINAL%20for%20WEBSITE%20-%202017%20BEA%20Award%20Book_062218%20v4.pdf">FY 2017 BEA Program Award Book</a></li><li><a href="/awards/state-awards/Pages/default.aspx">Searchable Awards Database</a></li></ul><p><strong>About the BEA Program </strong></p><p>The Bank Enterprise Award Program (BEA Program) rewards FDIC-insured depository institutions for making investments in certified CDFIs as well as in the most distressed communities in the country. In order to receive an award, these banks and thrifts must demonstrate an increase in their investments to communities where at least 30 percent of the population lives at or below the national poverty level and where the unemployment rate is at least 1.5 times the national average. The BEA Program awards help offset some of the risks and/or costs associated with investing in these highly distressed communities and provide an incentive to increase their investments. The greater the loan increase, the greater the award. Since its inception in 1994, the BEA Program has awarded grants totaling over $470 million.   <br><br>For more information about the BEA Program, please view the <a href="/Documents/CDFI7205_FS_BEA_updatedFeb2018.pdf">Fact Sheet</a> or visit the CDFI Fund's website at <a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a>. </p><p><strong>About the CDFI Fund</strong></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 view the <a href="/Documents/CDFI_Brochure%20Updated%20Mar2017.pdf">Fact Sheet</a> or visit the CDFI Fund's website at <a href="/Pages/default.aspx">www.cdfifund.gov</a>. </p>2018-06-27T04:00:00ZPress Releases307

 Upcoming Events

 

 

CDFI Certification Conference Callhttps://www.cdfifund.gov/Lists/CDFI Events/AllItems.aspxhttps://www.cdfifund.gov/Lists/CDFI Events/DispForm.aspx?ID=7CDFI Certification Conference Call2018-07-19T19:00:00Z2018-07-19T20:00:00ZConference Call0x01020041E1D5678A3CED4385147CFE255D18170057406B2C3550AF449B8352847FBB5E547
CDFI Certification Conference Callhttps://www.cdfifund.gov/Lists/CDFI Events/AllItems.aspxhttps://www.cdfifund.gov/Lists/CDFI Events/DispForm.aspx?ID=8CDFI Certification Conference Call2018-08-16T19:00:00Z2018-08-16T20:00:00ZConference Call0x01020041E1D5678A3CED4385147CFE255D18170057406B2C3550AF449B8352847FBB5E548
CDFI Certification Conference Callhttps://www.cdfifund.gov/Lists/CDFI Events/AllItems.aspxhttps://www.cdfifund.gov/Lists/CDFI Events/DispForm.aspx?ID=9CDFI Certification Conference Call2018-09-20T19:00:00Z2018-09-20T20:00:00ZConference Call0x01020041E1D5678A3CED4385147CFE255D18170057406B2C3550AF449B8352847FBB5E549

 

 

Strategic Planhttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=11Strategic PlanFY 2017 - FY 2022<img alt="" src="/SiteCollectionImages/PublicationImages/Final%20Strategic%20Plan%20Cover%20102716%20highlight.jpg" style="BORDER:0px solid;" />/Pages/next-five-years.aspx

 

 

Request a Speakerhttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=5Request a SpeakerSchedule a Speaker for your next event<img alt="" src="/Style%20Library/cdfi/pic-highlight1.jpg?s=F3BB8F79FA7B0B4E2E89F19CE8111068BA762963" style="BORDER:0px solid;" />/Pages/speaker-request.aspx

CDFI Fund Tools & Resources

Access Tools and Resources

Access the CDFI Fund's database systems below. Use the Awards Database search to find CDFI Fund awardees by state for all of the CDFI Fund's programs. AMIS is the CDFI Fund's new Awards Management Information System, which will replace myCDFIFund.

 

 

Community Investment Impact Systemhttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=1Community Investment Impact Systemicon-checkmarkHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E21/Pages/ciis.aspx
CIMS Mapping Toolhttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=2CIMS Mapping Toolicon-mapHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E22/Pages/mapping-system.aspx
AMIShttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=3AMISicon-communityHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E23http://amis.cdfifund.gov

Awards Database

Find CDFIs in your community