The U.S. Treasury Department’s CDFI Fund opened the 2018 fiscal year funding round for the CDFI Program and Native American CDFI Assistance Program. The awards from the programs will support CDFIs providing affordable financing and related services to low-income communities and populations that lack access to credit, capital and financial services.
The CDFI Fund plans to award approximately $196.5 million in the 2018 fiscal year through Financial Assistance and Technical Assistance awards. The majority of those funds, $181 million, will go to the CDFI Program, while $15.5 million will be used for the NACA Program.
Importantly, Congress has not yet passed a final appropriations bill for the 2018 fiscal year, and the CDFI Fund is currently operating under a continuing resolution. The total amount of funds available for the 2018 CDFI Program and NACA Program is contingent upon the passage of a final 2018 appropriations legislation.
The CDFI Fund will update applicants when final budget authority is available for the 2018 fiscal year round.
To learn more, visit the CDFI Fund website.