How do I submit a new CDFI Certification Application before October 1, 2022?
Information on submitting a CDFI Certification Application can be found on the CDFI Fund website at www.cdfifund.gov/cdficert under How to Apply Step 1: Apply.
My organization has received an award, Allocation, or Bond Guarantee authority from one of the CDFI Fund’s programs. Does the pause affect my compliance reports?
The pause does not affect the submission of reports required by the Office of Compliance Monitoring and Evaluation. Organizations must remain in compliance with all outstanding CDFI Fund awards (including CDFI/NACA Program Financial Assistance and Technical Assistance, Bank Enterprise Award Program, Small Dollar Loan Program, Capital Magnet Fund, and Rapid Response Program awards), New Markets Tax Credit Allocations, or CDFI Bond Guarantee Program reporting requirements.
My organization has received a CDFI Program or NACA Program Technical Assistance award that requires us to submit a CDFI Certification Application during this pause period. How will the pause affect my award compliance?
The CDFI Fund is aware that some organizations are required to submit CDFI Certification Applications as part of their Performance Goal and Measures per the terms of their Assistance Agreements and may be affected by this pause. The CDFI Fund will amend Assistance Agreements to allow time for such organizations to be able to either: submit under the new CDFI Certification policies; or hold them harmless for not being able to meet the new CDFI Certification policies.
My organization has received a CDFI Program or NACA Program Financial Assistance award that requires us to modify our Target Market during this pause period. How will the pause affect my award compliance?
The CDFI Fund is aware that some organizations are required to submit Target Market Modification requests as part of their Performance Goal and Measures per the terms of their Assistance Agreements and may be affected by this pause. The CDFI Fund will either amend Assistance Agreements to allow time for such organizations to be able to submit a Target Market Modification request under the new CDFI Certification policies; or hold them harmless for not being able to meet the new CDFI Certification policies.
Is Community Development Entity (CDE) Certification affected by the pause?
The CDFI Fund’s Office of Certification Policy and Evaluation will still continue to accept and review applications for CDE certification and CDE Service Area Amendments throughout the blackout period.
My organization is currently a certified CDFI and the deadline to submit its ACR falls during the blackout period. Are we required to submit an ACR during this time?
Yes. CDFIs are still required to submit an ACR in accordance with their existing ACR reporting schedule as listed in AMIS.
How does the pause affect an organization that is currently in a cure period under a 2021 or 2022 ACR Report?
If you are a CDFI that is currently in a cure period related to a 2021 or 2022 ACR Report Year submission, you are still obligated to adhere to the specific deadlines and deliverables associated with that cure requirement. Failure to do so can result in a loss of Certification during this blackout period.
Message from CDFI Fund Director Jodie Harris
As we move into the latter half of 2022, I wanted to take a moment to provide a short update about the Community Development Financial Institutions Fund’s (CDFI Fund’s) programs and initiatives.
Setting the Stage for the CDFI Equitable Recovery Program and Designating Minority Lending Institutions
Earlier today, the Community Development Financial Institutions Fund (CDFI Fund) opened applications for the CDFI Equitable Recovery Program. The CDFI Fund team has spent the past year diligently working to deploy $1.75 billion in supplemental COVID-19 recovery resources that were included in the Consolidated Appropriations Act, 2021 (Pub. L. 116-260) to help CDFIs respond to the economic effects of the COVID-19 pandemic.