Wednesday, July 20, 2022
CDFI Fund Update on CDFI Certification Application Process
In May 2020, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) requested public comment on the application and reporting requirements for Certified Community Development Financial Institutions (CDFIs). CDFI Certification is a designation given by the CDFI Fund to specialized organizations that provide financial services in low-income communities and to people who lack access to financing. Not only are Certified CDFIs eligible to apply for funding through various programs at the CDFI Fund, CDFI Certification status often serves as a qualifier to access certain other federal government programs. The CDFI Fund undertook an extensive review and comment period on its CDFI Certification requirements in order to ensure that its policies and procedures continue to meet statutory and regulatory requirements while being responsive to the evolving nature of the CDFI industry. As part of this process, the CDFI Fund revised the CDFI Certification Application, as well as the Annual Certification and Data Collection Report (ACR), and introduced the collection of transactional level data from all Certified CDFIs.
As a reminder for FY 2022 CDFI Equitable Recovery Program (CDFI ERP) applicants, the deadline for online submission of the SF-424 through Grants.gov for this year’s CDFI ERP funding round is August 18, 2022 at 11:59 PM ET. Applicants must create an Awards Management Information System (AMIS) account and enter their Employer Identification Number (EIN) and Unique Entity Identifier (UEI) by August 18, 2022 at 11:59 PM ET.
Learn More by Joining the Call on August 10th
The Community Development Financial Institutions Fund (CDFI Fund) is holding an informational conference call for those Community Development Financial Institutions (CDFIs) that are currently in a Certification cure period related to the submission of a 2021 or 2022 Annual Certification and Data Collection Report (ACR).
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is soliciting public comment regarding the criteria to designate a certified Community Development Financial Institution (CDFI) as a Minority Lending Institution (MLI).