WASHINGTON–The Treasury Department’s Community Development Financial Institution Fund and Native American CDFI Assistance Program (NACA Program) have received 546 applications from organizations across the country requesting a total of $579.54 million.
The applications were received as part of the FY 2019 application round.
According to Treasury, specifically:
- 412 organizations requested $363.49 million in CDFI Program Base-Financial Assistance (Base-FA) awards.
- 81 organizations requested $9.79 million in CDFI Program Technical Assistance (TA) awards.
- 32 organizations requested $25.93 million in NACA Program Base-FA awards.
- 21 organizations requested $3.11 million in NACA Program TA awards.
- 184 organizations requested $53.57 million in Persistent Poverty County-Financial Assistance (PPC-FA) awards (CDFI Program and NACA Program combined).
- 35 organizations requested $114.1 million in Healthy Food Financing Initiative-Financial Assistance (HFFI-FA) awards (CDFI Program and NACA Program combined).
- 24 organizations requested $10.05 million in Disability Funds-Financial Assistance (DF-FA) awards (CDFI Program and NACA Program combined).
How Funds Will Be Disbursed
Treasury noted that pursuant to the Consolidated Appropriations Act, 2019 (PL 116-6), Congress appropriated $199.5 million for the CDFI Fund to support the following programs:
- $140.9 million in CDFI Program Base-FA and TA awards.
- $13.95 million in NACA Program Base-FA and TA awards.
- $19.7 million in PPC-FA awards (CDFI Program and NACA Program combined).
- $22 million for HFFI-FA awards (CDFI Program and NACA Program combined).
- $3 million for DF-FA awards (CDFI Program and NACA Program combined).
Treasury said the CDFI Fund anticipates announcing the FY 2019 awards before Dec. 31.