The FY 2024 CDFI Program and NACA Program Application Round is Coming Soon!

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.

A Path to Increasing New Markets Tax Credit Investment in Native Communities

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.

Learn about the Upcoming CY 2023 New Markets Tax Credit Program Allocation Application Round - $5 Billion in Allocation Authority will be Available.

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

Interested in the Small Dollar Loan Program? Learn More and Get Ready to Apply Today!

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.

Message from CDFI Fund Acting Director Marcia Sigal: A Status Check on CDFI Fund Activities

In May, I officially stepped into the role of Acting Director of the Community Development Financial Institutions Fund (CDFI Fund) but, I am not new to the CDFI Fund. For the last five years, I have served as the CDFI Fund’s Deputy Director of Policy and Programs managing the implementation of assistance programs and policies to increase the impact of the CDFI Fund’s programs in distressed and underserved communities. As Acting Director, I will ensure that CDFI Fund programs and initiatives will continue and progress during this time of transition as the U.S.

Positioning the Capital Magnet Fund for Impact and Innovation

Since its inception in 2008, the Capital Magnet Fund (CMF) has awarded nearly $1.1 billion in funding to create and preserve affordable housing for Low-Income families and economically distressed communities. Through the program, the Community Development Financial Institutions Fund (CDFI Fund) awards competitive grants to Certified Community Development Financial Institutions (CDFIs) and non-profit housing organizations to develop, rehabilitate, preserve, and purchase affordable housing, particularly housing targeted to Low-, Very Low-, and Extremely Low-Income families.

Eddie Tsibulevskiy

Depository Institutions Initiatives
Eddie Tsibulevskiy
Eddie Tsibulevskiy
Program Manager

Eddie Tsibulevskiy is the Program Manager of the Depository Institutions Initiatives unit and is responsible for the management of the Bank Enterprise Award and Small Dollar Loan Programs. He most recently served as Senior Financial Analyst at the U.S. Export-Impact Bank where he analyzed and managed a large portfolio of direct loans and loan guarantees. Prior to this, Mr. Tsibulevskiy served recently as Associate Program Manager of the CDFI Fund’s Capital Magnet Fund. He holds an M.S. in Economic Development from Georgetown University and a B.A. in Economics and Political Science from the University of Maryland Baltimore County.

CDFI Provides Childcare Providers with Critical Support during the Pandemic

The COVID-19 pandemic forced many parents and their children to stay home as the country grappled with how to combat the new disease and keep the population safe through lockdowns, school closures, and emergency medical interventions. Employees from federal, state, and local governments, medical facilities, private companies, first responders, restaurant workers, maintenance workers, and other employees deemed essential or critical were required to continue working.

Program Notes: A Deeper Look at the FY 2022 CDFI Program and NACA Program Award Round

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In late-February, the CDFI Fund announced that 252 CDFIs received $194.1 million in Financial Assistance (FA) awards through the fiscal year (FY) 2022 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), including Healthy Food Financing Initiative-Financial Assistance (HFFI-FA) awards, Disability Funds-Financial Assistance (DF-FA) awards, and Persistent Poverty C

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