The Community Development Financial Institutions Fund (CDFI Fund) announced today that it will launch a new Capacity Building Initiative training and technical assistance series, Expanding CDFI Coverage in Underserved Areas, later this year. The series, presented by Opportunity Finance Network (OFN), will provide specialized training and technical assistance to Community Development Financial Institutions (CDFIs) to extend their reach into certain underserved communities in the United States that currently lack a CDFI presence.
"Through the past twenty years of helping to create and expand the capacity of CDFIs, the CDFI Fund has seen how vital these organizations can be in low-income communities," said Acting CDFI Fund Director, Dennis Nolan. "By expanding the ability of CDFIs to have impact in areas currently lacking adequate financial services and lending opportunities, this training series will directly align with the CDFI Fund's primary mission to increase economic opportunity and promote community development investments for underserved populations."
The training component of the series will provide capacity building workshops structured to a CDFI's organizational development status. Technical assistance offered through this initiative will be integrated closely to the content of the workshops and will be offered in various formats, including peer cohort formats, webinars, one-on-one technical assistance, and advanced support sessions for CDFIs with specialized and continuing needs. OFN will collaborate with key CDFI industry partners for the delivery of the training and technical assistance.
The CDFI Fund will post upcoming training opportunities to its website, www.cdfifund.gov/cbi, in the coming months. The CDFI Fund will also post to its website a virtual Resource Bank containing curricula and informational materials from the series.
For more information about the Capacity Building Initiative or the CDFI Fund's other programs, please visit www.cdfifund.gov.
About the CDFI Fund
Since its creation in 1994, the CDFI Fund has awarded more than $1.9 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the Bank Enterprise Award Program, the Capital Magnet Fund, the Financial Education and Counseling Pilot Program, and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated $40 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and $325 million has been guaranteed in bonds through the CDFI Bond Guarantee Program. To learn more about the CDFI Fund and its programs, please view the Fact Sheet or visit the CDFI Fund's website at www.cdfifund.gov.
About Opportunity Finance Network (OFN)
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. Through 2012, OFN's Network originated more than $33.3 billion in financing in urban, rural, and Native communities, and financed development/rehab of 960,000 housing units, started or expanded nearly 94,000 business and microenterprises, and helped create or maintain nearly 600,000 jobs. More information is available at: www.opportunityfinance.net.
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