WASHINGTON (11/4/11)—The U.S. Treasury Department Thursday announced the availability of $123 million in funds through its Community Development Financial Institutions (CDFI) Fund.
A total of $25 million of the CDFI Fund awards will be distributed under the Obama administrations new Healthy Food Financing Initiative (HFFI), according to the release.
CDFI Fund Director Donna J. Gambrell in a release said that the CDFI program "will greatly support CDFIs serving distressed communities across the country." These institutions "play a critically important role in these communities by promoting economic opportunities and the CDFI Program is a vital tool for expanding the capacity of these CDFIs to increase their lending activities," she added.
Applications for the CDFI funds must be received by Jan. 11.
The fund earlier this year awarded $142,302,667 to 155 institutions, including 25 credit unions, in the largest single round of monetary awards since the CDFI Fund program began in 1994. Overall, the CDFI Fund eclipsed $1 billion in total awards in 2011.
For the CDFI Fund release, use the resource link.