WASHINGTON–The Community Development Financial Institutions Fund (CDFI Fund) has extended the application deadlines for when currently certified community development financial institutions (CDFIs) must reapply for CDFI Certification using the revised version of the CDFI Certification Application.
In December 2023, the CDFI Fund released the final revised CDFI Certification Application. Non-certified organizations that wish to apply for CDFI Certification may do so at any time using the revised Application. However, organizations that are currently Certified CDFIs must reapply for Certification by the updated deadlines established by the CDFI Fund, according to Treasury.
The Specifics
“Specifically, the CDFI Fund will now be instituting a staggered submission schedule for when currently Certified CDFIs will be required to reapply for CDFI Certification using the revised version of the application,” Treasury stated. “Instead of one reapplication deadline for all Certified CDFIs, the due date for submission of the revised CDFI Certification Application will be determined by the specific date of each organization’s fiscal year end (FYE).
There will still be an early submission window for those Certified CDFIs that notified the CDFI Fund by February 1, 2024, indicating they wished to voluntarily submit their application before the general submission deadline, Treasury said.
Updated CDFI Certification Application Deadlines for Currently Certified CDFIs
According to Treasury, all currently Certified CDFIs must reapply for CDFI Certification following the submission schedule provided below. Organizations that do not submit an Application by 11:59 pm Eastern Time (ET) on their appointed deadline will lose their CDFI Certification, Treasury added.
The Timeline
- The early reapplication window is now from Sept. 16 to Nov. 18, 2024. This applies to groups that notified the CDFI Fund by February 1, 2024, they wished to apply before the general recertification application deadline.
- Early applicants whose applications are declined and therefore are not recertified will remain in a grace period and retain certification through Dec. 31, 2025, but must submit a new CDFI Certification Application before Dec. 31, 2025, in order to remain certified.
- Early applicants that choose not to apply during the revised early reapplication window must submit their applications according to the general reapplication deadlines outlined below.
- All other currently Certified CDFIs must reapply for Certification using the revised Application in the Awards Management Information System (AMIS) by the general reapplication submission deadlines below. No additional grace period or extension will be provided to CDFIs that fail to submit their application by the revised deadline.
General Reapplication Submission Deadlines, by FYE Date
Treasury said that until their submission due date, currently Certified CDFIs will: 1) retain their status as Certified CDFIs; and 2) remain eligible to apply for all CDFI Fund programs where CDFI Certification is an eligibility requirement—provided they abide by ACR reporting requirements and have no material event affecting their CDFI Certification status.
For info: www.cdfifund.gov/cdficert
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