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CDFIs to get enhanced assistance training
WASHINGTON (8/24/09)--The U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund on Friday announced that it is expanding its technical assistance and training endeavors with CDFIs in an effort to help them better “deliver financial products and services to underserved communities nationwide.” To complete the planned expansion, the CDFI Fund has issued a Request for Proposals (RFP) to collect bids from contractors that could aid the CDFI Fund in its future initiatives. The new Capacity-Building Initiative will provide increased specialized technical assistance and also will provide training resources, which will cover issues related to affordable housing, business lending, portfolio management, risk assessment, foreclosure prevention, training in CDFI business processes, and assistance with liquidity and capitalization challenges, the release added. The CDFI will also offer “direct on-site technical assistance and individualized capacity-building plans” through the Capacity-Building Initiative. CDFI Fund Director Donna Gambrell said this type of expansion would “not only ensure that the CDFI Fund is best positioned to lead CDFIs through the financial crisis, but also position the entire CDFI industry to expand their lending activities and spur economic growth in distressed communities.” Under the RFP, the CDFI Fund specifically requests contractors that can complement existing foreclosure prevention programs by helping identify resources and best practices related to foreclosure prevention, including the development of financial products and the implementation of post-purchase housing and foreclosure prevention counseling programs. The CDFI Fund is also seeking contractors with expertise in risk assessment, liquidity, and capitalization. Eligible contractors will be hired in fall of this year, and technical assistance and training should be made available to CDFIs by spring 2010. For the full CDFI Fund release, use the link.
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