Capital Magnet Fund

Step 2: Application Process

The Notice of Funds Availability (NOFA), instructions, and supplemental materials for the FY 2024 round of the Capital Magnet Fund (CMF) program are below. These materials are intended to help you understand how to apply for a Capital Magnet Fund Award. The application materials listed on this page and the requirements set forth in the NOFA are subject to change for future funding rounds.

Applicants for CMF are required to submit materials through Grants.gov (SF-424) and the CDFI Fund’s Award Management Information System (AMIS). Applicants are advised to review the NOFA, Application Instructions and related materials below. Applicants are also advised to submit their SF-424 in Grants.gov and create an organizational AMIS account, if they don’t have one already.

CAPITAL MAGNET FUND OVERVIEW PRESENTATIONS

For those preparing to apply for the FY 2024 application round, the Capital Magnet Fund team held a pre-application information session on December 6, 2023. The presentation and a recording of the session is available below.

• FY 2024 Capital Magnet Fund Overview presentation
• FY 2024 Capital Magnet Fund Overview session recording
• Getting Ready to Apply to the Capital Magnet Fund Round blog post

Additionally, the following six modules provide an overview of various Capital Magnet Fund program topics:

• Module 1: Introduction to Capital Magnet Fund
• Module 2: Capital Magnet Fund Eligibility & Program Requirements
• Module 3: Attracting Capital Through the Capital Magnet Fund
• Module 4: A Good Business Strategy is Key
• Module 5: Affordable Housing and CMF
• Module 6: Economic Development and CMF
   

FY 2024 APPLICATION ROUND TIMELINE

* For Depository Institution Holding Company Applicants, the Title VI Compliance Worksheet requirement also applies to the Applicant’s Subsidiary Depository Institution.

FY 2024 APPLICATION WEBINARS

The CDFI Fund will conduct four live webinars to answer applicant questions about the FY 2024 Capital Magnet Fund Application. More information about how to access the webinars is available below.

All webinars will take place on Zoom. Use the links below to register in advance for the webinars or access the webinars by clicking the links below five minutes before the webinars begin. Each webinar has a unique link. Advance registration is recommended but not required to participate in the webinars. Webinar presentations and recordings will be posted after the live webinar.