CDFI Equitable Recovery Program

NEWS

Update May 16, 2022: CDFI Equitable Recovery Program Pre-Application Webinar now Available!

For those preparing to apply for the fiscal year (FY) 2022 CDFI Equitable Recovery Program application round, the CDFI Fund has recorded an informational pre-application webinar. Topics covered include setting up your critical SAM.gov and Grants.gov accounts, adjusting your organizational profile in the Awards Management Information System (AMIS), and other ways your organization can prepare in advance for the FY 2022 application round.

BACKGROUND

The Consolidated Appropriations Act, 2021 (Act; Section 523 of Division N; Pub. L. 116-260) provided $1.75 billion to the Community Development Financial Institutions Fund (CDFI Fund) to award Community Development Financial Institutions (CDFIs) grants to respond to the economic impacts of the COVID-19 pandemic. Awards provided to CDFIs are to expand lending, grant making, or investment activity in low- or moderate-income communities and to borrowers that have significant unmet capital or financial service needs and were disproportionately impacted by the COVID-19 pandemic. The CDFI Fund will be awarding these funds through its newly established CDFI Equitable Recovery Program (CDFI ERP). 

ELIGIBILITY

Organizations that have been Certified by the CDFI Fund as CDFIs as of the date of the Notice of Funds Availability (NOFA) publication in the Federal Register, have a track record of serving CDFI ERP Eligible Geographies and meet certain financial management criteria are eligible to apply to the CDFI ERP. Applicants for the CDFI ERP must be in compliance with all outstanding CDFI awards, allocations, or bond guarantee requirements, as well as meet benchmarks for programmatic/financial safety and soundness.

PROGRAM OVERVIEW

The CDFI ERP is designed to: 1) provide funding to CDFIs to expand lending, grant making and investment activities in low- or moderate-income communities and to borrowers that have significant unmet capital and financial services needs and have experienced disproportionate economic impacts from the COVID-19 pandemic, and 2) catalyze growth in the financial and organizational capacity of CDFIs for the purpose of carrying out equitable recovery activities.

FY 2022 APPLICATION PROCESS

The Notice of Funds Availability (NOFA), instructions, and supplemental materials for the FY 2022 round of the CDFI Equitable Recovery Program are below. These materials are intended to help you understand how to apply for a CDFI Equitable Recovery Program award.

For those preparing to apply for the ERP, the CDFI Fund provided a pre-application webinar on May 16, 2022. The webinar recording and presentation are available below.

Questions

If you have a question about the application process, you can contact the CDFI Fund’s Help Desk by submitting a Service Request through your AMIS account; by e-mail to erp@cdfi.treas.gov or by phone to (202) 653-0421 (please note this is not a toll free number).

INFORMATION

Please direct questions related to CDFI ERP to the Help Desk by submitting a Service Request through your AMIS account, emailing erp@cdfi.treas.gov, or calling (202) 653-0421.