CDFI Program

CDFI Program Benefits

The CDFI Program uses monetary awards and training opportunities to invest in and build the capacity of CDFIs, empowering them to grow, achieve organizational sustainability, and drive community revitalization. In 2015, CDFI Program awardees:

  • Financed more than 12,300 businesses
  • Provided funding for more than 25,300 affordable housing units
  • Opened more than 13,500 new bank accounts for people who were previously “unbanked”
Download CDFI Program Fact Sheet (English) ›
Download CDFI Program Fact Sheet (Español) ›

Opening Date
February 17, 2016


Deadline


Announcement Date
TBD

​​​​​Overview

Access to affordable financial products and services is a staple of economically vibrant communities. Yet at least one quarter of American households do not have a bank account or rely on costly payday lenders and check-cashing outlets. Additionally, many small businesses and critical community development projects lack access to the capital investment necessary to spark economic growth in their communities. The Community Development Financial Institutions Program (CDFI Program) actively works to address these issues by investing federal resources—which are matched with private funding—in CDFIs working to serve low-income and underserved people and communities.

The CDFI Program offers both Financial Assistance and Technical Assistance awards to CDFIs. These competitive awards support and enhance the ability of these organizations to meet the needs of the communities they serve.

Financial Assistance awards are made in the form of loans, grants, equity investments, deposits, and credit union shares, which CDFIs are required to match dollar-for-dollar with non-federal funds.  This requirement enables CDFIs to multiply the impact of federal investment to meet the demand for affordable financial products in economically distressed communities.

Technical Assistance grants are offered to CDFIs and Certifiable CDFIs (see eligibility below) to build their organizational capacity.

Both Financial and Technical Assistance awards empower CDFIs to grow, achieve organizational sustainability, and contribute to the revitalization of the communities they serve.

Healthy Food Financing Initiative - Financial Assistance awards are also offered for CDFIs that are interested in expanding their healthy food financing activities.

For more information, please see our 2015 CDFI Program Fact Sheet (English / Español) and our Healthy Food Financing Initiative Fact Sheet (English / Español).

​Eligibility

To be eligible to apply for a Financial Assistance award, your organization must be a Certified or Certifiable CDFI. Certifiable CDFIs are entities that submit a Certification Application to the CDFI Fund by the deadline specified in the applicable Notice of Funds Availability (NOFA), but are not yet officially certified at the time of Financial Assistance application submission.

The CDFI Fund also offers supplemental awards through the Healthy Food Financing Initiative.  CDFIs that are selected to receive a Financial Assistance award may also receive a Healthy Food Financing Initiative award to expand their healthy food financing activities.

Certified and Certifiable CDFIs are eligible to apply for Technical Assistance awards. However, Certifiable CDFIs must demonstrate the ability to become a Certified CDFI within two years of receiving a Technical Assistance grant.

For more detailed information, please refer to the Notice of Funds Availability (NOFA) and visit the CDFI Certification Application Process page.

Are you an individual or business seeking a loan?

Click here to learn how to find CDFIs and CDEs that are providing services in your community.

 

 

Certification https://www.cdfifund.gov/programs-training/Programs/cdfi-program/Lists/CDFI Program Steps/DispForm.aspx?ID=5Certification Step 11CDFI Certification/programs-training/Programs/cdfi-program/Pages/cdfi-certification-step.aspx#step1
Applyhttps://www.cdfifund.gov/programs-training/Programs/cdfi-program/Lists/CDFI Program Steps/DispForm.aspx?ID=1ApplyStep 22Timeline| Application Materials| Healthy Food Financing Initiative| Past Year's Application Materials /programs-training/Programs/cdfi-program/Pages/apply-step.aspx#step2
Award Announcementhttps://www.cdfifund.gov/programs-training/Programs/cdfi-program/Lists/CDFI Program Steps/DispForm.aspx?ID=2Award AnnouncementStep 33Award Announcement/programs-training/Programs/cdfi-program/Pages/award-announcement-step.aspx#step3
Closing and Disbursementhttps://www.cdfifund.gov/programs-training/Programs/cdfi-program/Lists/CDFI Program Steps/DispForm.aspx?ID=3Closing and DisbursementStep 44Closing and Disbursement/programs-training/Programs/cdfi-program/Pages/closing-disbursement-step.aspx#step4
Compliance and Reportinghttps://www.cdfifund.gov/programs-training/Programs/cdfi-program/Lists/CDFI Program Steps/DispForm.aspx?ID=4Compliance and ReportingStep 55Compliance and Reporting/programs-training/Programs/cdfi-program/Pages/compliance-step.aspx#step5

 

 

Awardshttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=6AwardsLooking for more about Awards for this program? Find it on our Awards page<img alt="" src="/Style%20Library/cdfi/pic-highlight1.jpg" style="BORDER:0px solid;" />/awards/state-awards/Pages/default.aspx

 

 

Our Impacthttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=7Our ImpactLearn more about the impact of the CDFI Fund on our Impact Blog<img alt="" src="/Style%20Library/cdfi/pic-highlight1.jpg" style="BORDER:0px solid;" />Learn more about the impact of the CDFI Fund on our Impact Blog

CDFI Fund Tools & Resources

 

 

Community Investment Impact Systemhttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=1Community Investment Impact Systemicon-checkmarkHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E21/Pages/ciis.aspx
AMIShttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=3AMISicon-communityHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E23http://amis.cdfifund.gov
CIMS Mapping Toolhttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=2CIMS Mapping Toolicon-mapHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E22/Pages/mapping-system.aspx