Laurie Schaffer
U.S. Department of the Treasury Designee
Acting Assistant Secretary for Financial Institutions
Washington, DC
Acting Assistant Secretary for Financial Institutions
Washington, DC
Pravina Raghavan is the Director of the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund). The CDFI Fund generates economic growth and opportunity in some of our nation's most distressed communities. By offering tailored resources and innovative programs that invest federal dollars alongside private sector capital, the CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities.
With over 20 years of experience in providing advisory services to businesses, Raghavan brings a wealth of expertise to her current role. Prior to her leadership at the CDFI Fund, she was the Director of the Manufacturing Extension Partnership Program (MEP) at the National Institute of Standards and Technology (NIST) since December 2021, and oversaw a nationwide network of 51 centers aimed at empowering manufacturers through hands-on services and she held key positions in both public and private sectors.
Prior to that, Pravina served as the Executive Vice President of Empire State Development, New York State's economic development agency, where she spearheaded initiatives such as the $800 million NYS COVID-19 Small Business Recovery Grant Program and the $100 million CDFI New York Forward Loan Fund.
Pravina's career also includes significant contributions in the federal government, where she served as a Senior Advisor to the Deputy Secretary of Commerce, focusing on strategic planning and policy development. Additionally, she served as the Deputy Associate Administrator and New York District Director at the U.S. Small Business Administration, managing substantial loan portfolios and fostering partnerships with CDFIs and credit unions.
Before her government service, Raghavan held executive positions in renowned companies such as MTV, BET Networks, and Misys PLC, where she honed her expertise in business development, strategic advisory, and finance.
Pravina holds an M.B.A. in Finance from Seton Hall University and a B.S. in Finance from Pennsylvania State University.
Update December 11, 2023: View the pre-application webinar recording and presentation here.
Interested in applying for a Capital Magnet Fund Award? You may find the following information helpful in getting started. The CDFI Fund is tentatively planning to open the fiscal year (FY) 2024 Application round in early 2024.
Interested in applying to the upcoming fiscal year (FY) 2024 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program)? The Community Development Financial Institutions Fund (CDFI Fund) is tentatively planning to open the FY 2024 CDFI Program and NACA Program Application round later this fall. Now is a great time for organizations to begin preparing to apply for a CDFI Program or NACA Program award.
CDFI Fund releases two industry reports and a guide for Native entities.
Eighteen months ago, the CDFI Fund launched the NMTC Native Initiative with the goal to increase New Markets Tax Credit (NMTC) investments in NMTC Native Areas[i] . Since the NMTC Program’s inception, the CDFI Fund has recorded investments totaling over $1.8 billion[ii] in Indian Country.
This post was originally published on the CDFI Fund's Impact Blog.
The CDFI Fund is tentatively planning to open the calendar year (CY) 2023 New Markets Tax Credit Program (NMTC Program) Allocation Application round in the fall of 2023. If you are considering applying for the upcoming CY 2023 NMTC round, you may find the following information helpful.
Application Registration
Pre-Application Webinar Scheduled for October 4, 2023
Later this fall, the Community Development Financial Institutions Fund (CDFI Fund) will be accepting applications for the Small Dollar Loan Program (SDL Program). The SDL Program was created to encourage Certified CDFIs to establish or expand small dollar consumer loan programs that provide alternatives to high-cost small dollar loans. For this program, small dollar loans are unsecured loans of up to $2,500. The grants may be used for two eligible activities, loan loss reserves and technical assistance activities.