CDFI Equitable Recovery Program

NEWS

Update June 23, 2022: Apply Now for the Brand New CDFI Equitable Recovery Program

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2022 funding round for the CDFI Equitable Recovery Program (CDFI ERP) today. The program will provide approximately $1.73 billion, which was included in the Consolidated Appropriations Act, 2021 (Pub. L. 116-260), in awards to Certified Community Development Financial Institutions (CDFIs) to respond to the economic impact of the COVID-19 pandemic. The CDFI Fund is opening the program round for applications today in anticipation of publication of the Notice of Funds Availability (NOFA) in the Federal Register on June 24, 2022.

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, and investment activity in low- or moderate-income communities and to borrowers, including minorities, that have significant unmet capital or financial service needs and were disproportionately impacted by the COVID-19 pandemic and to enable CDFIs to build organizational capacity and acquire technology, staff and other tools necessary to accomplish the activities under a CDFI ERP Award. 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

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) enable CDFIs to build organizational capacity and acquire technology, staff, and other tools necessary to accomplish the activities under a CDFI ERP Award.

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).

FY 2022 APPLICATION TIMELINE

Date Description
June 23, 2022 FY 2022 Round Opening
July 26, 2022 Deadline to enter EIN and UEI numbers in AMIS
July 26, 2022 Deadline for Submitting SF-424 through Grants.gov
August 19, 2022 Last Day the CDFI Fund Will Answer Questions About the Application
August 23, 2022 Deadline to Receive AMIS Support from the IT Help Desk
August 23, 2022 Deadline for Submitting CDFI Equitable Recovery Program Application through AMIS
Winter 2023 FY 2022 ERP Awards Announced

 

FY 2022 APPLICATION WEBINARS

The CDFI Fund will conduct two webinars to present the CDFI Equitable Recovery Program Application. View the recordings of the webinars below. Advance registration is not required to participate in the webinars. Access the webinars by clicking the below links 5 minutes before the webinars begin.

Viewing these webinars requires the use of WebEx. To download the WebEx Event Manager, see the instructions on the Verizon's WebEx Downloads page.

Webinar Topic Date and Time Conference Access Link
CDFI Equitable Recovery Program Application Webinar June 29, 2022 
1:00 PM - 2:30 PM ET

Completed

Access Webinar Recording 
View Presentation

CDFI Equitable Recovery Program Application Webinar July 7, 2022 
3:00 PM - 4:30 PM ET

Dial: 888-603-8939
Conference: PWXW2800278
Passcode: 4460211

Access Webinar

 

FY 2022 APPLICATION MATERIALS

The application materials for the CDFI Equitable Recovery Program Application are below. These materials are provided for reference only.

1. FY 2022 CDFI Equitable Recovery Program NOFA

Updated - June 23, 2022

2. FY 2022 CDFI Equitable Recovery Program Application Instructions

Updated - June 23, 2022

3. FY 2022 Equitable Recovery Program Application Frequently Asked Questions (FAQs)

Updated - June 23, 2022

4. FY 2022 CDFI Equitable Recovery Program AMIS Training Manual

(COMING SOON)

5. FY 2022 Equitable Recovery Program List of Eligible Geographies

Updated - June 23, 2022

6. CDFI ERP Application Financial Data Inputs Workbook

Updated - June 23, 2022

7. CDFI ERP Application Tables Workbook

Updated - June 23, 2022

8. CDFI ERP Glossary

Updated - June 23, 2022

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.