Capital Magnet Fund

Step 1: CDFI Certification

Community Development Financial Institution Certification (CDFI Certification) is the U.S. Department of the Treasury's recognition of specialized financial institutions serving low-income communities. Through Certification, CDFIs are qualified to apply for technical assistance and financial assistance awards, as well as training provided by the CDFI Fund through the Capacity Building Initiative.

Entities considering certification as a CDFI are advised that certification determinations may take up to 90 days from the date a completed CDFI Certification Application has been received by the CDFI Fund. Those considering certification as a CDFI are encouraged to take this review period into account as it may impact their eligibility to apply for a CDFI Program assistance award.

Be sure to review the application materials under the Apply step to learn the certification guidance for this program. Then, learn more about how to apply to be certified as a CDFI on the CDFI Certification page.

Note for Capital Magnet Fund Applicants: In order to be eligible to apply for a Capital Magnet Fund award, Applicants must either be a Certified CDFI as of the release date of the Notice of Funds Availability (NOFA) or be a non-profit organization with a principal purpose of developing or managing affordable housing. For additional eligibility information, see the current Notice of Funds Availability.


Questions regarding ​Capital Magnet Fund ​Program may be directed to the CDFI Fund by e-mail to; or by phone to (202) 653-0421. Please note this is not a toll free number.