The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2021 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) today. The awards from these programs will support Community Development Financial Institutions (CDFIs) that provide affordable financing and related services to low-income communities and populations that lack access to credit, capital, and financial services.
Grant Management Associates has worked with applicants to successfully secure this funding, working with our clients to obtain CDFI certification.
The CDFI Fund plans to award approximately $204.5 million in FY 2021 awards as authorized by the Consolidated Appropriations Act, 2021 (the Act, P.L. 116-260), to be divided as follows:
$140.2 million in CDFI Program Financial Assistance (FA) and Technical Assistance (TA) awards.
$14.85 million in NACA Program FA and TA awards.
$20.45 million in Persistent Poverty County-Financial Assistance (PPC-FA) awards, which includes $18.8 million in PPC-FA awards for CDFI Program applicants and $1.65 million in PPC-FA awards for NACA Program applicants.
$23 million for Healthy Food Financing Initiative-Financial Assistance (HFFI-FA) awards, which both CDFI Program and NACA Program applicants can apply for.
$6 million for Disability Funds-Financial Assistance (DF-FA) awards, which both CDFI Program and NACA Program applicants can apply for.
A detailed overview of the CDFI Program, the NACA Program, and the types of awards available can be found in the FY 2021 Notice of Funding Availability (NOFA) for those programs. To learn more, please view the CDFI Program NOFA and NACA Program NOFA.
Please note that these NOFAs refer to the annual FY 2021 application rounds for the CDFI Program and the NACA Program. More information about how to apply to the CDFI Rapid Response Program, which was also authorized by the Act, will be released soon. As there will be overlap between the application periods for the two programs, the CDFI Fund will provide two weeks more than in previous years to complete the FY 2021 CDFI Program and NACA Program applications. Please refer to the application timeline below for more details.
Please read on to learn more about the FY 2021 CDFI Program and NACA Program application round.
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