WASHINGTON–The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has opened the fiscal year (FY) 2020 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program).
The awards from these programs will support Community Development Financial Institutions (CDFIs) that provide affordable financing and related services to low-income communities and populations that lack access to credit, capital, and financial services, Treasury said.
The CDFI Fund plans to award approximately $199.5 million in FY 2020 awards, authorized by the Consolidated Appropriations Act, 2020, to be divided as follows:
- $140.9 million in CDFI Program Financial Assistance (FA) and Technical Assistance (TA) awards
- $14 million in NACA Program FA and TA awards
- $19.6 million in Persistent Poverty County-Financial Assistance (PPC-FA) awards, which both CDFI Program and NACA Program applicants can apply for
- $22 million for Healthy Food Financing Initiative-Financial Assistance (HFFI-FA) awards, which both CDFI Program and NACA Program applicants can apply for
- $3 million for Disability Funds-Financial Assistance (DF-FA) awards, which both CDFI Program and NACA Program applicants can apply for
A detailed overview of the CDFI Program, the NACA Program, and the types of awards available can be found in the FY 2020 Notice of Funding Availability (NOFA) for those program, Treasury said.
Application Materials
Reference copies of the NOFAs and all application materials can be found on the CDFI Fund’s website at:
- CDFI Program: www.cdfifund.gov/cdfi, under Step 2: Apply
- NACA Program: www.cdfifund.gov/native, under Step 2: Apply
“Applicants are strongly encouraged to read and view all application materials, including the NOFA, application guidance, webinars, and presentations,” according to Treasury.
In the coming weeks, the CDFI Fund will continue to update the Application Materials section of the CDFI Program and NACA Program webpages with additional guidance materials and presentations, Treasury added.
Required Application Systems
The Treasury Department noted all applicants must be registered and have active accounts in SAM.gov, Grants.gov, and the CDFI Fund’s Awards Management Information System (AMIS) to apply for funding by March 23, 2020, or their application will be considered ineligible. All applicants are also required to have the correct EIN and DUNS numbers attached to the relevant SAM.gov and AMIS accounts by March 23, 2020. As soon as possible, organizations should either create these accounts if they don’t exist, or confirm that their existing accounts are up-to-date, in order to avoid potential application submission problems. Detailed information is available in the FY 2020 NOFA for each program.
Where to Begin
Treasury said new applicants are encouraged to begin the registration process for each of the systems now, and registration guidance is provided on each website. The CDFI Fund provided an initial overview of the steps to register in SAM.gov, Grants.gov, and AMIS on its Impact Blog in January 2020. However, the CDFI Fund does not manage SAM.gov or Grants.gov, and processes for these systems may have changed since then.
“Both new and repeat applicants should allow ample time to complete the entire registration and submission process well in advance of the application deadline,” Treasury said.
For more info, view the Application Materials section of the CDFI Program and NACA Program webpages for the dates, times, and access information for each webinar.