Nov. 1, 2013 – The Community Development Financial Institutions Fund is inviting applications from credit unions and other institutions that qualify as CDFIs for up to $191 million in grants during its fiscal year 2014 funding round.
The fund, which is administered by the Treasury Department, is making financial assistance and technical assistance grants available, allocated as follows:
- $144 million for CDFI Program awards;
- $35 million for Healthy Food Financing Initiative Financial Assistance awards; and,
- $12 million for Native American CDFI Assistance Program awards.
Credit unions designated by NCUA as low-income automatically qualify to seek assistance from the CDFI Fund, but they must have CDFI certification to apply. Applicants must be certified or recertified by June 1, 2014.
In order to give applicants more time, the CDFI Program and NACA Program Notice of Funds Availability and application materials were made available on Oct. 28 online, in advance of their publication in the Federal Register. This year’s application is in Excel format, in response to complaints about the fillable PDF application used previously.
The deadline for applications for the CDFI and NACA Programs is Dec. 23, 2013, at noon Eastern time, but the CDFI Fund strongly recommends applications be submitted at least three days before the deadline.