NEWS
Update April 10, 2023: U.S. Treasury Awards more than $1.73 Billion in Response to Economic Impacts Caused by COVID-19 Pandemic
Washington, DC – Today, Vice President Kamala Harris and Deputy Secretary of the Treasury Wally Adeyemo announced that the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has awarded over $1.73 billion in grants to 604 Community Development Financial Institutions (CDFIs) across the country through the CDFI Equitable Recovery Program (CDFI ERP). These funds will strengthen the ability of CDFIs to help low- and moderate-income communities recover from the COVID-19 pandemic and invest in long-term prosperity.
- View the full list of ERP Award Recipients here
- On-the-Record Press Call by Vice President Harris on Historic Investment in Financially Underserved Communities to Improve Access to Capital and Financial Services
- CDFI Fund Releases Application Demand for Equitable Recovery Program
- Important Information for Organizations Impacted by Hurricane Fiona
- Reminder: Submit Your FY 2022 CDFI ERP Application by September 22, 2022
- CDFI Equitable Recovery Program Supplemental FAQs Webinar
- FY 2022 CDFI Equitable Recovery Program Application Deadline Extended
- Apply Now for the Brand New CDFI Equitable Recovery Program
- CDFI Equitable Recovery Program Pre-Application Webinar now Available!
- Interested in the CDFI Equitable Recovery Program? Get Ready to Apply Today!
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.
- CDFI Equitable Recovery Program Pre-Application Webinar Recording
- CDFI Equitable Recovery Program Pre-Application Webinar Presentation
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 |
| August 18, 2022 | Deadline to enter EIN and UEI numbers in AMIS |
| August 18, 2022 | Deadline for Submitting SF-424 through Grants.gov |
| September 20, 2022 | Last Day the CDFI Fund Will Answer Questions About the Application |
| September 20, 2022 | Last day to contact CDFI Fund with questions about Compliance or CDFI Certification |
| September 22, 2022 | Deadline to Receive AMIS Support from the IT Help Desk |
| September 22, 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 three 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 |
|
|
CDFI Equitable Recovery Program Application Webinar |
July 7, 2022 3:00 PM - 4:30 PM ET |
Completed |
|
|
CDFI Equitable Recovery Program Supplemental FAQs Webinar |
August 25, 2022 1:00 PM - 2:30 PM ET |
Completed |
FY 2022 APPLICATION MATERIALS
The application materials for the CDFI Equitable Recovery Program Application are below. These materials are provided for reference only.
1. CDFI Equitable Recovery Program NOFA
Updated - June 23, 2022
2. Amendment to the CDFI Equitable Recovery Program NOFA
Updated - July 15, 2022
3. CDFI Equitable Recovery Program Application Instructions
Updated - September 9, 2022
4. CDFI Equitable Recovery Program Application Overview
Updated - July 15, 2022
5. CDFI Equitable Recovery Program Application Frequently Asked Questions (FAQs)
Updated - July 15, 2022
6. CDFI Equitable Recovery Program Application Supplemental Frequently Asked Questions (FAQs)
Updated - September 9, 2022
7. CDFI ERP AMIS Training Manual
Updated - July 15, 2022
8. CDFI ERP List of Eligible Geographies
Updated - June 23, 2022
9. CDFI ERP Bulk Address Geocoding AMIS Manual
Updated - July 8, 2022
10. CDFI ERP Application Financial Data Inputs Workbook
Updated - June 23, 2022
11. CDFI ERP Application Tables Workbook
Updated - June 23, 2022
Updated - June 23, 2022
13. CDFI ERP AMIS Application Demonstration Webinar
Updated - August 8, 2022
14. CDFI Equitable Recovery Program Supplemental FAQs Webinar
Updated - August 30, 2022
COMPLIANCE RESOURCES AND REPORTING
MATERIAL EVENTS
Certification of Material Events Form
Updated - Nov 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.