WASHINGTON (10/29/13)--The U.S. Treasury Department has opened its application process for up to $191 million for Community Development Financial Institutions (CDFI) Fund financial assistance and technical assistance awards for Fiscal Year 2014.
The funds are for both the CDFI and Native American CDFI Assistance Program (NACA Program). The amounts available to make awards under the CDFI Program and NACA Program are subject to final appropriations.
The 2014 awards breakdown is:
- $144 million for CDFI program awards;
- $35 million for Healthy Food Financing Initiative Financial Assistance awards; and
- $12 million for NACA program awards.
The awards will support CDFIs that are providing affordable financing and related services to low-income communities and populations lacking access to credit, capital and financial services.
In FY 2013, CDFI program applicants requested a total of $410.8 million, which was a $15 million jump over the previous year's requests of nearly $395.7 million. Credit unions made 73 requests for a total of around $77 million in funds. More than $21 million in CDFI Fund awards and grants was released to 35 low-income credit unions for the year.
The deadline for submission of the CDFI Program and NACA Program applications is Dec. 23 (ET). The announcement noted that the CDFI Fund strongly encourages all applications be submitted at least three days before the deadline.
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