The Community Development Financial Institutions Fund (CDFI Fund) has selected a contractor to provide group training and individual technical assistance to certified Community Development Entities (CDEs) that meet the CDFI Fund's definition of a Minority CDE. The training will inform Minority CDEs on how they can participate in the New Markets Tax Credit Program (NMTC Program).
The CDFI Fund awarded the contract to National Community Investment Fund (NCIF), a certified Community Development Financial Institution and CDE that has more than ten years' experience with the NMTC Program. As an organization, NCIF invests capital in institutions, primarily banks, that increase access to responsible financial products and services in underserved communities. NCIF was selected based on the strength of its experienced staff, as well as the involvement of subject matter experts who will bring extensive NMTC experience and needs assessment capabilities to the trainings.
The new training workshops will target certified CDEs that are minority-controlled not-for-profit entities, minority-owned for-profit entities, or Minority Depository Institutions (MDIs). Training participants will be able to discuss with experienced practitioners the various ways of participating in the NMTC Program, whether as an investor, an allocatee, a leverage lender, a direct lender to a qualified business, or a secondary CDE.
In addition, CDEs that have completed the training curriculum will have the opportunity to receive customized technical assistance based upon their operational priorities.
The CDFI Fund and NCIF will release more details about how to apply for the training and workshop dates and locations as they are finalized in the coming months. To learn more about the NMTC Program, please visit the CDFI Fund's website at www.cdfifund.gov/nmtc or view the program's fact sheet.
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