The U.S. Treasury Department’s CDFI Fund opened the 2019 fiscal year funding round for the CDFI Program and Native American CDFI Assistance Program. The grants 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 $199.5 million in the 2019 fiscal year. The majority of those funds, $140.9 million, will go to Financial Assistance and Technical Assistance awards. CDFI is also giving out $22 million for Health Food Financing Initiative Financial Assistance Awards and $18 million for Persistent Poverty Counties Financial Assistance.
In a separate funding notice, the Treasury also announced $15.5 million that will be used for the NACA Program.
President Donald Trump proposed eliminating funding for the CDFI Fund in his budget proposals for 2018, 2019 and 2020, but full funding for the CDFI Fund was included in the government funding package passed in February.
To learn more, visit the CDFI Fund website.