CDFI Rapid Response Program

The Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (Act; Pub. L. 116-260) provided $1.25 billion to the Community Development Financial Institutions Fund (CDFI Fund) to award Community Development Financial Institutions (CDFIs) with grants to deliver immediate assistance in communities impacted by the COVID-19 pandemic. The CDFI Fund will be awarding these funds through its newly established CDFI Rapid Response Program (CDFI RRP), which is designed to quickly deploy capital to Certified CDFIs through a streamlined application and review process. Through the CDFI RRP, CDFIs will be provided with resources necessary to respond to the economic impacts of the COVID-19 pandemic in distressed and underserved communities and people. 

 

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 are eligible to apply to the CDFI RRP. Applicants for CDFI RRP 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 RRP is designed to quickly and broadly deploy capital to Certified CDFIs through a streamlined application and evaluation methodology. To meet the expedited award deadlines required by Congress for the CDFI RRP, the CDFI Fund will utilize and leverage its existing CDFI Certification and CDFI Program Financial Assistance and Technical Assistance application evaluation processes, as well as the Awards Management Information System (AMIS).

 

APPLICATION PROCESS

The Notice of Funds Availability (NOFA), instructions, and supplemental materials for the FY 2021 round of the CDFI Rapid Response Program are below. These materials are intended to help you understand how to apply for a CDFI Rapid Response Program award.

For those preparing to apply for the FY 2021 application round, the CDFI Fund provided a pre-application webinar on February 18, 2021. 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 cdfihelp@cdfi.treas.gov or by phone to (202) 653-0421  (please note this is not a toll free number).

 

FY 2021 Application Timeline

Date Description
February 25, 2021 FY 2021 FY 2021 Round Opening
March 22, 2021, 11:59 PM ET Deadline for Creating an AMIS Account
March 22, 2021, 11:59 PM ET Deadline to enter EIN and DUNS numbers in AMIS
March 22, 2021, 11:59 PM ET Deadline for Submitting SF-424 through Grants.gov
March 23, 2021, 5:00 PM ET Last Day the CDFI Fund Will Answer Questions About the Application
March 25, 2021, 5:00 PM ET Deadline to Receive AMIS Support from the IT Help Desk
March 25, 2021, 11:59 PM ET Deadline for Submitting CDFI RRP Application through AMIS
TBD FY 2021 CDFI RRP Awards Announced

 

FY 2021 APPLICATION WEBINARS

The CDFI Fund is conducting two targeted live webinars to provide a forum to answer applicant questions about the FY 2021 CDFI Rapid Response Program Application. 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
FY 2021 CDFI RRP Application Webinar Workshop March 3, 2021 
2:00 PM - 4:00 PM ET
Webinar Completed Access Webinar Recording
FY 2021 CDFI RRP Application Webinar Workshop March 10, 2021 
2:00 PM - 4:00 PM ET
Webinar Completed Access Webinar Recording

 

FY 2021 Application Materials

 

The application materials for the FY 2021 CDFI Rapid Response Application are below. Applicants should continue to check this site for any updates.