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CDFI Fund Expands Capacity Building Initiative to Address Needs of CDFIs Serving Small Businesses and Microenterprises Blank Space Blank Space May 31, 2012 Washington, DC – The Community Development Financial Institutions Fund (CDFI Fund) announcedhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=83CDFI Fund Expands Capacity Building Initiative to Address Needs of CDFIs Serving Small Businesses and Microenterprises Blank Space Blank Space May 31, 2012 Washington, DC – The Community Development Financial Institutions Fund (CDFI Fund) announced<p> <strong>Washington, DC</strong> – The Community Development Financial Institutions Fund (CDFI Fund) announced today the launch of two new training series for Community Development Financial Institutions (CDFIs) that provide small business or microfinance loans. The series will be provided under the CDFI Fund’s Capacity Building Initiative, which expands the training and technical assistance opportunities available for CDFIs nationwide.</p><p>The two series—“Innovations in Small Business Lending” and “Scaling up Microfinance”—both focus their training on financing principles that are designed to assist communities from the grassroots level. By helping entrepreneurs turn a new idea into a business, or to build upon a small business’s initial success, CDFIs encourage economic growth in low-income and distressed neighborhoods. </p><p>"These two new series are exactly the type of innovative and transformative training we envisioned when we launched our Capacity Building Initiative," said CDFI Fund Director Donna J. Gambrell. "Our efforts will help CDFIs nationwide better serve their clients with the capital, credit, and other critical services they desperately need to build businesses and create jobs. And these trainings come at a time when we cannot afford to take our eye off-the-ball in regards to recovery in our country’s most economically challenged communities."<br></p><br> Specifically: <br><br><ol><li> <strong><em>The Innovations in Small Business Lending</em></strong> series will provide training and technical assistance to CDFIs interested in expanding their lending services to the small business sector. The series, as part of the CDFI Fund’s Capacity Building Initiative, is being developed with Deloitte Financial Advisory Services, LLP (Deloitte) to address the specific needs of CDFIs. <br> <br> The Innovations in Small Business Lending series will significantly boost the ability of CDFIs to identify key strategies for small business lending, such as evaluating new market opportunities and trends, then assessing what businesses in their communities will need support, and building the financial infrastructure and deal flow to finance them. Training sessions will set out a number of new market opportunities Deloitte has identified to be transformative in regional economies. The goals include learning how to quickly filter opportunities and identify promising and timely revenue opportunities. </li> <br> <br> <li> <strong><em>The Scaling up Microfinance</em></strong> series will build the capacity of CDFIs that provide microfinance services to meet untapped demand, improve organizational capacity, and attract institutional investors. Opportunity Finance Network (OFN) has been selected as the training and technical assistance provider to expand the capacity of CDFIs specializing in microfinance. <br> <br> Today, microfinance CDFIs play a vital role in providing access to capital and other financial products to entrepreneurs who cannot qualify for traditional bank loans. However, the sector is highly labor-intensive and exhibits elevated costs associated with providing many small loans and technical assistance to borrowers. Gaining efficiencies through technology, implementing sustainable business models, and fostering collaboration between organizations will facilitate the growth and scaling of the sector. To address these needs, OFN, with the support of the CDFI Fund, will offer trainings and technical assistance in three key areas: sustainable and feasible business models, technology, and human capital. </li></ol><p> All training opportunities will be posted on the CDFI Fund's website in the coming months.</p><p>Those interested in learning more about the Innovations in Small Business Lending and Scaling up Microfinance series can subscribe to receive free e-mail updates <a href="https://public.govdelivery.com/accounts/USTREASCDFI/subscriber/new?" target="_blank"> here</a>. More information about the Capacity Building Initiative, and the CDFI Fund in general, is also available on the CDFI Fund’s website: <a href="http://cdfifund.gov/">www.cdfifund.gov</a>. <br></p><h2> About the CDFI Fund </h2><p> The CDFI Fund invests in and builds the capacity of community-based, private, for-profit and non-profit financial institutions with a primary mission of community development in economically distressed communities. These institutions – certified by the CDFI Fund as Community Development Financial Institutions or CDFIs – are able to respond to gaps in local markets that traditional financial institutions are not adequately serving. CDFIs provide critically needed capital, credit and other financial products in addition to technical assistance to community residents and businesses, service providers, and developers working to meet community needs. The CDFI Fund's vision is an America in which all people have adequate access to affordable capital, credit and financial services. </p><h2> About Deloitte<br></h2><p> Deloitte is a global organization devoted to excellence in providing professional services and advice. With access to the deep intellectual capital of more than 160,000 people worldwide, its member firms deliver services in areas of consulting, assurance and enterprise risk, tax, and financial advisory services. Deloitte Financial Advisory Services brings strong industry experience in financial transaction work – restructuring impaired assets, and developing business models that can attract new capital, and providing technical assistance to troubled institutions. Deloitte's Financial Services Industry practice is a far-reaching network of practitioners who offer their experience to the world's leading federal and commercial financial services enterprises. This practice serves 83 percent of the financial services companies listed on the Fortune Global 500. </p><h2> About Opportunity Finance Network </h2><p> Opportunity Finance Network (OFN) is the national network of Community Development Financial Institutions (CDFIs)—private financial institutions that are 100 percent dedicated to delivering responsible, affordable lending to help low-income, low-wealth, and other disadvantaged people and communities join the economic mainstream. Through 2010, OFN’s network has originated more than $24.2 billion in financing in urban, rural, and Native communities, and financed 782,907 housing units, 64,391 business and microenterprises, 7,674 community facilities, and created or retained 317,052 jobs. More information is available at: <a href="http://www.opportunityfinance.net/" target="_blank">www.opportunityfinance.net</a> </p><br> 2012-05-31T04:00:00ZPress Releases83
Major New Study Identifies Opportunities for Supermarkets in Underserved Communities throughout the U.S.https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=82Major New Study Identifies Opportunities for Supermarkets in Underserved Communities throughout the U.S.<p><em>​Data Shows 24.8 Million Americans Have Low Access to Healthy Food Options</em></p><p><strong>Washington, DC</strong> – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released a study today showing that 24.8 million Americans live in areas with limited supermarket access (LSA) in the continental United States. The study, commissioned by the CDFI Fund’s Capacity Building Initiative to assist Community Development Financial Institutions (CDFIs) serving neighborhoods with low healthy food options, also examines the disparity in access to healthy food for low-income and minority populations.</p><p>The results of the study have been published in Searching for Markets: The Geography of Inequitable Access to Healthy and Affordable Food, a report completed by The Reinvestment Fund (TRF) and released as part of the Capacity Building Initiative’s Financing Healthy Food Options training series. The trainings, provided under contract by the Opportunity Finance Network (OFN), help CDFIs develop the capacity to provide financing for a variety of healthy food entities, from grocery stores to co-ops to farms. The “Searching for Markets” report aids this effort by identifying communities with unmet demand for healthy food retail options.</p><p>“The ‘Searching for Markets’ study exemplifies the core goal of the Capacity Building Initiative, which is to provide as many varied resources as possible to CDFIs as they seek growth and an increased ability to serve their customers,” said CDFI Fund Director Donna J. Gambrell. “This study will enable CDFIs to better target areas that would benefit from increased healthy food financing, benefiting low-income communities across the country.”</p><p>“Searching for Markets” identifies 1,519 communities where supermarkets do not exist today, and where the unmet demand within the community is large enough to support a full-service grocery store. To determine the areas, the methodology first established a benchmark distance for people to travel to supermarkets, based on population density and car ownership, and then measured every block group in the nation against the benchmark. In addition, “Searching for Markets” demonstrates that residents living in LSA areas are 2.28 times more likely to be low-income; and minority populations are up to 2.49 times more likely to live in an LSA area than non-minority populations.</p><p>TRF’s Chief Executive Officer Don Hinkle-Brown shared that “the study brought to bear our analytical expertise and the practical experience we’ve gained as a local program administrator to help TRF and others be more strategic when operating programs around the nation.”</p><p>The data on which the study is based is available to the public free of charge via a customized LSA tool on PolicyMap, TRF’s online data and mapping tool. The tool assists investors, operators, locally based organizations and policymakers to identify areas where supporting supermarkets may be a viable intervention strategy for improving residents’ access to fresh and healthy foods. Through PolicyMap, users can evaluate food access demand and underlying market conditions.</p><p>Mark Pinsky, President of OFN, notes, “With the data made widely available on PolicyMap, both CDFIs and their potential partners have a credible resource from which to explore and act on these issues in their market areas.”</p><p><strong>Searching for Markets: The Geography of Inequitable Access to Healthy and Affordable Food</strong><br><a href="/Documents/DemandStudySummary.pdf" target="_blank">Executive Summary</a><br><a href="/Documents/SearchingForMarkets_Report_web_Low_%20Res.pdf" target="_blank">Full Report</a><br><a href="http://www.trfund.com/limited-supermarket-access-lsa-analysis-mapping-tool/" target="_blank">Data for Continental United States</a></p><p>Other resources supporting Financing Healthy Food Options are available on the CDFI Fund website:<span class="ms-rteBackColor-4"> http://www.cdfifund.gov/what_we_do/FinancingHealthyFoodOptionsResourceBank.asp</span></p><p>###</p><p><strong>About the U.S. Department of Treasury’s CDFI Fund</strong></p><p>The CDFI Fund invests in and builds the capacity of community-based, private, for-profit and non-profit financial institutions with a primary mission of community development in economically distressed communities. These institutions – certified by the CDFI Fund as community development financial institutions or CDFIs – are able to respond to gaps in local markets that traditional financial institutions are not adequately serving. CDFIs provide critically needed capital, credit and other financial products in addition to technical assistance to community residents and businesses, service providers, and developers working to meet community needs.</p><p>For more information about the CDFI Fund and its programs, please visit the Fund’s website at: <a href="http://www.cdfifund.gov/">http://www.cdfifund.gov</a>.</p><p><strong>About Opportunity Finance Network</strong></p><p>Opportunity Finance Network (OFN), the leading network of private financial institutions, creates growth that is good for communities, investors, individuals, and the economy. Members of OFN are community development financial institutions (CDFIs) that deliver responsible lending to help low-wealth and low-income communities join the economic mainstream. More information is available at:<a href="http://ofn.org/" target="_blank"> www.opportunityfinance.net</a>.</p><p><strong>About The Reinvestment Fund</strong></p><p>TRF is a national leader in rebuilding America’s distressed towns and cities, through the innovative use of capital and information. TRF has invested over $1 billion in Mid-Atlantic communities since 1985. A CDFI, TRF finances housing, community facilities, food access, commercial real estate and energy efficiency projects. Manager of the PA Fresh Food Financing Initiative that became the model for the national Healthy Food Financing Initiative, TRF has invested over $100 million in 92 supermarkets, grocery stores and other fresh food retail enterprises, resulting in over 5,500 jobs and 6.8 million square feet of food retail space. In addition to financing, TRF provides public policy expertise by helping clients create actionable solutions and by sharing data and analysis via <a href="http://www.policymap.com/" target="_blank">www.PolicyMap.com</a> To learn more about TRF, visit <a href="http://www.policymap.com/" target="_blank">www.trfund.com </a></p>2012-05-17T04:00:00ZPress Releases82
GAO Reports CDFI Fund Programs Proportionally Serve Rural Communitieshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=81GAO Reports CDFI Fund Programs Proportionally Serve Rural Communities<p><strong>​Washington, DC</strong> – The Community Development Financial Institutions Fund (CDFI Fund) today released a study conducted by the United States Government Accountability Office (GAO) that examined whether the Community Development Financial Institutions Program (CDFI Program) and the New Markets Tax Credits Program (NMTC Program) were meeting goals set for proportionally awarding organizations that serve rural areas.</p><p>"The Community Development Financial Institutions and New Markets Tax Credit Programs in Metropolitan and Nonmetropolitan Areas study found that the CDFI Fund has met or exceeded its rural proportionality goals," said CDFI Fund Director Donna J. Gambrell. "This is a testament to the CDFI Fund’s commitment to providing financing to revitalize all struggling communities, urban and rural alike."</p><p>U.S. House Report 112-136, referenced by the Consolidated Appropriations Act of 2012, requires that GAO conduct a study on the concentration of CDFIs and NMTCs in urban areas and comments on the extent that program design, administration, or history contributed to the early establishment of CDFIs in urban areas.</p><p>The GAO study finds that the CDFI Program has a successful review process and established goals of matching the proportion of awards to the proportion of qualified applicants that primarily serve nonmetropolitan areas. The GAO study also found that the NMTC Program has successfully implemented the provisions of the Tax Relief and Health Care Act of 2006, a requirement for the NMTC Program that nonmetropolitan counties receive a proportional allocation of qualified equity investments.</p><p>The full summary report can be found here. For more information about the CDFI Program, NMTC Program, or other CDFI Fund programs, please visit <a href="http://www.cdfifund.gov/">www.cdfifund.gov</a>. </p>2012-05-09T04:00:00ZPress Releases81
CDFI Fund Releases Updated NMTC Program Eligibility Criteria Based Upon the 2006-2010 American Community Surveyhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=145CDFI Fund Releases Updated NMTC Program Eligibility Criteria Based Upon the 2006-2010 American Community Survey<p class="body"> <b>Washington, DC</b> - The Community Development Financial Institutions Fund (CDFI Fund) has completed the first stage of its transition to updated program eligibility for the New Markets Tax Credit Program (NMTC Program) based on new census data. </p> <p class="body"> The updated census tract eligibility data are based upon the 2006-2010 American Community Survey (ACS). Community Development Entities (CDEs) will be able to use the 2006-2010 ACS data to determine if Qualified Low Income Community Investments (QLICIs) are located in NMTC-eligible 2010 census tracts. </p><p class="body"> The Community Development Financial Institutions Program, Native American CDFI Assistance Program, and Bank Enterprise Award Program will also be updated based upon the American Community Survey later this year. </p><p class="body"> “The transition to the 2006-2010 American Community Survey will enable community and economic developers across the country to better target their investments in the low-income communities that need them most,” said CDFI Fund Director Donna J. Gambrell. “The updated census tract data will help the CDFI Fund and its awardees focus on the neighborhoods currently struggling as a result of the recent recession to be at the forefront of future investment activity.” </p><p class="body"> The CDFI Fund recognizes that CDEs may have already begun to structure potential QLICIs based on the 2000 census data. As a result, the CDFI Fund will allow current NMTC allocatees to use either 2000 census data or 2006-2010 ACS data applied to the 2010 census tracts to qualify QLICIs closed between May 1, 2012 and June 30, 2013. Additional guidance on this transition period can be found on the CDFI Fund’s <a href="/what_we_do/acs/update-census-data.asp">website</a>. </p><p class="body"> For up-to-date information on the CDFI Fund’s transition to the 2006-2010 American Community Survey data, please visit <a href="/acs">www.cdfifund.gov/acs</a>. </p><p class="body"> More information about the New Markets Tax Credit Program, and all of the CDFI Fund’s other programs, can be found at <a href="/">www.cdfifund.gov</a>. </p>2012-05-01T04:00:00ZUpdates145

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