CDFI Impact Blog

 

 

Program Notes: A Deeper Look at the FY 2020 CDFI Program and NACA Program Award Roundhttps://www.cdfifund.gov/impact/Lists/Posts/ViewPost.aspx?ID=83Program Notes: A Deeper Look at the FY 2020 CDFI Program and NACA Program Award Round<div class="ExternalClass15A45B2E995E4D8D83F417E75494BFE4"><p>​Recently, the Community Development Financial Institutions Fund (CDFI Fund) announced the largest number of awards ever in the history of the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). The fiscal year (FY) 2020 CDFI Program and NACA Program awards reached 397 organizations in total—40 more than the number of organizations that received FY 2019 awards.<br></p><p>The total number of organizations that received awards wasn't the only impressive statistic this year, however. The awards also included 91 organizations that were first-time awardees. </p><p>In total, the 397 Award Recipients received $204.1 million in CDFI Program and NACA Program Financial Assistance and Technical Assistance awards, including Healthy Food Financing Initiative-Financial Assistance (HFFI-FA) awards, Disability Funds-Financial Assistance (DF-FA) awards, and Persistent Poverty County-Financial Assistance (PPC-FA) awards. </p><p>The awards also touched on several priorities for the programs: </p><p><strong>Serving areas of Persistent Poverty:</strong> The Consolidated Appropriations Act for FY 2020 required that 10% of the funds awarded by the CDFI Fund under the appropriation shall be used for awards that support investments that serve populations living in Persistent Poverty Counties (PPCs). PPCs are defined as counties where 20% or more of the population has lived in poverty over the past 30 years. These counties can be found in the United States in both rural and urban areas.</p><p>For the FY 2020 CDFI Program and NACA Program award round, 30% of the awardees – 117 CDFIs – committed to serving PPCs. These CDFIs received $20.1 million in PPC-FA awards specifically for investments in PPCs. </p><p><strong>Geographic representation:</strong> Beyond areas of persistent poverty, the FY 2020 CDFI Program and NACA Program awards will reach a wide variety of low-income communities across the United States. The awardees will serve rural, major urban, and minor urban target markets. In particular, 30% of the Award Recipients will serve rural counties. </p><p><strong>Table 1: Primary Geographic Markets Served</strong></p><img src="/SiteCollectionImages/PublicationImages/FY20-Impact%20Blog%20Table%201.png" alt="" style="margin:5px;" /><div><br><p><strong>Institutional proportionality:</strong> CDFIs can be various types of financial institutions, from banks or credit unions to loan funds or venture capital funds. The application review process for the CDFI Program and NACA Program is designed for a neutral review of the applications regardless of institution type. As a result, the percentage of organizations that received awards by institution type is similar to the percentage of institution types that applied. </p><p><strong>Table 2: Financial Institution Types that Received CDFI Program and NACA Program Awards vs. Applied</strong></p><p><strong><img src="/SiteCollectionImages/PublicationImages/FY20-Impact%20Blog%20Table%202.png" alt="" style="margin:5px;width:600px;" /><br></strong></p><p>During a year where the COVID-19 pandemic has caused so much hardship and difficulty across the country, the large number of awarded organizations and first-time awards means that the resources of these programs are reaching many hard-hit communities in the United States. </p><p>As the country still faces difficult economic questions as a result of the COVID-19 pandemic, the CDFI Fund understands that some Award Recipients may need to adjust their performance requirements for their awards. The CDFI Fund has provided updated guidance about eligible and non-eligible amendment requests, and how to ask for one, <a href="/Documents/CDFI%20and%20NACA%20Programs%20Amendments%20Guide%20and%20Intake%20Form.pdf">on its website</a>. Award Recipients should direct any questions to the CDFI Program and NACA Program team via an AMIS Service Request. </p><p>Learn more about the FY 2020 award round on the <a href="/news-events/news/Pages/news-detail.aspx?NewsID=269">CDFI Fund's website</a>. More information about the CDFI Program can be found at <a href="http://www.cdfifund.gov/cdfi">www.cdfifund.gov/cdfi</a>, and the NACA Program at <a href="http://www.cdfifund.gov/native">www.cdfifund.gov/native</a>.  </p><p><em>Amber Kuchar-Bell is the Program Manager for the CDFI Program and the CDFI Fund's Native Initiatives</em></p><p><br></p></div></div>Amber Kuchar-Bell2020-11-13T14:00:00ZPrograms and Initiatives83GP0|#0760f5d5-6360-4d45-ba32-761ff5345cd1;L0|#00760f5d5-6360-4d45-ba32-761ff5345cd1|CDFI Program;GTSet|#52f34ab0-6f81-4fe6-b393-2715c7089532;GP0|#c890ec6f-810e-4c92-a8a0-1af04abbffc9;L0|#0c890ec6f-810e-4c92-a8a0-1af04abbffc9|Native Initiatives
Welcome to the new CDFI Fund website!https://www.cdfifund.gov/impact/Lists/Posts/ViewPost.aspx?ID=11Welcome to the new CDFI Fund website!<div class="ExternalClass074C17A5D0564DEC857FFA1BD0FAA1EC"><p>I hope you enjoy the new site, which was designed to better serve YOU, the CDFI Fund’s applicants and awardees and members of the public, as you look for more information about our programs. There may be a whole new look and feel, but the same in-depth information you’ve come to expect from the CDFI Fund is still here.</p><p>If you’ve come to the website before in the past year, you most likely encountered a survey asking your opinion on our old website. We listened to you, and took your feedback into account as we designed this website to be more user-friendly and to have a greater emphasis on the story of CDFIs and CDEs and how they are revitalizing our nation’s low-income communities. </p><p>One way we’re going to do that is through the CDFI Fund’s new Impact Blog. The blog is where we will be showcasing success stories from CDFIs and CDEs across the country, as well as highlighting areas of interest for our award programs. Expect to see stories of the impact CDFIs and CDEs make across the country featured here in the coming months.</p><p>Other improvements include: </p><ul><li>The introduction of “How to Apply” steps for our programs to organize our guidance based upon the stages of the application or award processes; </li><li>Clear navigation through the site and different pages; and </li><li>Robust search and filter functions to help you find the exact document you need.</li></ul><p>Stay tuned as we continue to improve the site and our virtual tools in general, especially in the near future as we officially launch our new Awards Management Information System, AMIS. AMIS will be replacing myCDFIFund, and will allow for the submission of online certification and program applications and the easy maintenance of organizational data. Expect to see more information about AMIS soon. </p><p>One more thing – you may still encounter that feedback survey popping up on the new website. If you do, I hope you take a minute to provide us some additional feedback on the new design. We are continually striving to improve our customer service, and this coordinated effort to bring you modern tools for interacting with and receiving information from the CDFI Fund is a big step forward.</p> </div>Annie Donovan2015-09-16T12:00:00ZPrograms and Initiatives11
Program Notes: Checking in with Native Initiativeshttps://www.cdfifund.gov/impact/Lists/Posts/ViewPost.aspx?ID=20Program Notes: Checking in with Native Initiatives<div class="ExternalClassD20E0A45160B4D609466FA461EF2C3F2"><p>As we come to the end of National Native Heritage Month, I want to take a moment to highlight the CDFI Fund’s recent activities dedicated to expanding economic opportunity for Native American, Alaska Native, and Native Hawaiian communities nationwide. </p><p>I recently was honored to participate in the <a href="http://www.oweesta.org/native-gathering/" target="_blank">2016 Native Convening in Atlanta</a>. It was an opportunity to have a fantastic, engaged conversation around community development in Native Communities and the work of Native Community Development Financial Institutions (Native CDFIs). </p><p>One of the topics for the Convening was the new <a href="/programs-training/Programs/native-initiatives/Pages/native-communities-study.aspx" target="_blank">“Access to Capital and Credit in Native Communities” report</a> (the Report), commissioned by the CDFI Fund and published by the Native Nations Institute with support from the Morris K. and Stewart L. Udall Foundation. The CDFI Fund commissioned the Report as a follow-up to its 2001 Native American Lending Study, which analyzed access to capital and financial services in Native Communities, identified barriers to access, and provided options to address the barriers.</p><p>At the Convening, I found that the Report sparked discussion around how we can better coordinate with Tribal entities and governments and encourage the development of Native entrepreneurs, as well as the overall state of the Native CDFI industry.</p><p>One of the key takeaways from the new Report is that while barriers to capital and credit still exist in Native Communities, Native CDFIs are playing a critical role in raising the financial capability of their communities and increasing local access to credit. Native CDFIs are truly making a difference.</p><p>I am proud of that, and of the role the CDFI Fund has played in supporting the growth and ability of Native CDFIs to provide critical financial services, business and homeownership loans, and financial education in Native Communities. </p><p>The Report also found that data on financial barriers and financial services in these communities is still difficult to come by, which will be a challenge for the CDFI Fund and for CDFIs going forward. We are making progress on that front, however. In 2016, the CDFI Fund awarded First Nations Oweesta Corporation a prize through our <a href="/news-events/news/Pages/news-detail.aspx?NewsID=230" target="_blank">2016 CDFI Prize Competition </a>for their proposal to develop Opportunities Through Impact System (OTIS), an impact tracking platform designed specifically for Native CDFIs. The goal of the OTIS platform is to provide the technological resources—combined with the technical assistance of First Nations Oweesta—to help Native CDFIs demonstrate their impact in their communities. I look forward to seeing what they are able to achieve. </p><p>I believe the Report will continue to drive discussion about the best ways to spur economic growth in Native Communities, and the CDFI Fund is thoughtfully considering the Report’s findings as <a href="/news-events/Pages/story-detail.aspx?StoryID=6" target="_blank">we plan our initiatives for the next few years</a>. </p><p>I don’t want us to lose sight of what we have achieved so far, however. We are still finding success and impact with our Native American CDFI Assistance Program (NACA Program). We had eleven first-time awardees in the <a href="/news-events/Pages/news-detail.aspx?NewsID=231" target="_blank">2016 round of the NACA Program </a>– a sizable achievement considering there were only 38 awardees in total. And our “Building Native CDFIs’ Sustainability and Impact” training series, which wrapped up in 2016, provided more than 2,300 hours of direct technical assistance and coaching to Native CDFIs. As we look to 2017 and beyond, I am dedicated to providing quality training and assistance to Native CDFIs, and to finding new ways we can encourage economic growth and prosperity in Native Communities nationwide. </p><p>Be sure to check out the “<a href="http://nni.arizona.edu/publications-resources/publications/papers/2016/access-capital-and-credit-native-communities" target="_blank">Access to Capital and Credit in Native Communities</a>” report and the CDFI Fund’s <a href="/news-events/Pages/story-detail.aspx?StoryID=6" target="_blank">Strategic Plan </a>to learn more. </p><p> <i>Amber Kuchar-Bell is the CDFI Fund’s Program Manager for the CDFI Program and Native Initiatives</i></p></div>Amber Kuchar-Bell2016-11-29T19:00:00ZPrograms and Initiatives20GP0|#12da016b-d497-4568-a2bf-23bc3f22d03c;L0|#012da016b-d497-4568-a2bf-23bc3f22d03c|Native Communities;GTSet|#52f34ab0-6f81-4fe6-b393-2715c7089532