The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2021 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) today. 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.
The CDFI Fund plans to award approximately $204.5 million in FY 2021 awards as authorized by the Consolidated Appropriations Act, 2021 (the Act, P.L. 116-260), to be divided as follows:
- $140.2 million in CDFI Program Financial Assistance (FA) and Technical Assistance (TA) awards.
- $14.85 million in NACA Program FA and TA awards.
- $20.45 million in Persistent Poverty County-Financial Assistance (PPC-FA) awards, which includes $18.8 million in PPC-FA awards for CDFI Program applicants and $1.65 million in PPC-FA awards for NACA Program applicants.