Opportunity Information: Apply for CDFI 2009 FATA
Apply for CDFI 2009 FATA
- The Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "CDFI Program 2009" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 21.020 Community Development Financial Institutions Program.
- This funding opportunity was created on Aug 12, 2008 and posted on Aug 12, 2008.
- Applicants must submit their applications by Oct 29, 2008. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- The funding agency has allocated a total of $54,000,000.00 to eligible and selected applicants.
- Each selected applicant is eligible to receive up to $2,000,000.00 in funding.
- The number of recipients for this funding is limited to 75 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
- Applicants must be certified as a Community Development Financial Institution (or CDFI) by the CDFI Fund, or be certifiable as a CDFI by the CDFI Fund. Please see the Notice of Funds Availability (NOFA) on the CDFI Funds website for more detailed information.
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Opportunity Summary:
The CDFI Program 2009 grant opportunity (Funding Opportunity Number: CDFI 2009 FATA) is a discretionary federal funding competition run by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. Its purpose is to strengthen and expand the work of Community Development Financial Institutions by funding activities that increase access to credit, capital, and financial services in underserved communities. The program is framed around producing clear community development outcomes, either by deepening services in an applicant's existing target market or by expanding into new investment areas and serving additional low-income or other targeted populations.
This opportunity offers two main types of support. First, Financial Assistance (FA) awards are aimed at already-certified CDFIs that can present comprehensive business plans showing how they will generate measurable community development impact through lending, investment, and related financial services. In practical terms, FA funding is intended to help a CDFI scale what it already does well, such as increasing loan volume, introducing new financial products, reaching new neighborhoods, or broadening service to specific populations that have historically lacked access to mainstream financial institutions. Second, Technical Assistance (TA) grants are designed for capacity building. TA can support certified CDFIs as well as organizations that are not yet certified but are proposing to become CDFIs. These grants focus on helping institutions build the systems, staffing, technology, policies, and strategic readiness needed to serve their markets more effectively, expand into new areas or populations, and in some cases achieve CDFI certification.
The funding instrument is primarily a grant, and the activity category is community development. The total estimated funding available under this notice is $54,000,000, with an expected 75 awards. Individual awards range from a minimum (floor) of $1 to a maximum (ceiling) of $2,000,000, meaning applicants may request support up to the stated cap depending on their proposal and eligibility under the Notice of Funds Availability (NOFA). The opportunity also includes a cost-sharing or matching requirement, so applicants should plan for providing matching funds or equivalent eligible sources as required by the program rules described in the NOFA.
Eligibility is limited to organizations that are either already certified by the CDFI Fund as CDFIs or can be certified (that is, they meet the standards needed for certification and can demonstrate that status through the application process). The listing notes "Others" under eligible applicants, but clarifies that the definitive eligibility details are in the NOFA posted on the CDFI Fund's website, which is where applicants must look for specific definitions, required documentation, and any category-specific conditions.
Timing and administrative details are also clearly specified. The opportunity was posted on August 12, 2008, with an application closing date of October 29, 2008, and it was archived on October 30, 2008. The program is cataloged under CFDA number 21.020, Community Development Financial Institutions Program. For applicants who had trouble accessing the full announcement electronically, the contact listed is William Luecht at (202) 622-8042, referenced through the IT Help Desk, and the main source for full requirements is the CDFI Fund website page linked in the announcement.
Frequently Asked Questions (FAQs) - CDFI Program 2009 (CDFI 2009 FATA)
What is the CDFI Program 2009 grant opportunity?
The CDFI Program 2009 opportunity (Funding Opportunity Number: CDFI 2009 FATA) is a discretionary federal funding competition administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. It supports activities that strengthen and expand the work of Community Development Financial Institutions in underserved communities.
What is the purpose of this program?
The purpose is to increase access to credit, capital, and financial services in underserved communities by funding CDFIs that can deliver clear community development outcomes. The program emphasizes measurable impact, either by deepening services in an existing target market or expanding into new investment areas and serving additional low-income or other targeted populations.
Who runs this funding competition?
The competition is run by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund.
What types of awards are available under this opportunity?
This opportunity offers two main types of support: Financial Assistance (FA) awards and Technical Assistance (TA) grants.
What are Financial Assistance (FA) awards intended to support?
FA awards are designed for already-certified CDFIs that can present comprehensive business plans showing how they will generate measurable community development impact through lending, investment, and related financial services. FA funding is meant to help a CDFI scale or expand what it already does well.
What are examples of activities FA funding may help with (as described in the opportunity summary)?
Based on the description provided, FA funding is intended to help a CDFI do things like increase loan volume, introduce new financial products, reach new neighborhoods, or broaden service to specific populations that have historically lacked access to mainstream financial institutions.
What are Technical Assistance (TA) grants intended to support?
TA grants are designed for capacity building. They focus on helping institutions improve systems, staffing, technology, policies, and strategic readiness so they can serve their markets more effectively, expand into new areas or populations, and in some cases achieve CDFI certification.
Who is eligible to apply for FA versus TA?
FA awards are aimed at already-certified CDFIs. TA grants can support certified CDFIs and also organizations that are not yet certified but are proposing to become CDFIs (i.e., they can be certified and are working toward certification).
What is the main activity category for this funding?
The activity category is community development.
What is the funding instrument for this opportunity?
The primary funding instrument is a grant.
How much total funding is estimated to be available?
The total estimated funding available under this notice is $54,000,000.
How many awards are expected?
The opportunity anticipates approximately 75 awards.
What is the minimum and maximum award size?
Individual awards range from a minimum (floor) of $1 to a maximum (ceiling) of $2,000,000. Applicants may request support up to the stated cap depending on their proposal and eligibility under the Notice of Funds Availability (NOFA).
Is there a matching or cost-sharing requirement?
Yes. The opportunity includes a cost-sharing or matching requirement, so applicants are expected to provide matching funds or equivalent eligible sources as required by the program rules described in the NOFA.
Where are the definitive eligibility rules and application requirements stated?
The listing notes that definitive eligibility details, definitions, required documentation, and any category-specific conditions are in the NOFA posted on the CDFI Fund's website. Applicants are expected to rely on the NOFA for the full, authoritative requirements.
What is the CFDA number for this program?
The program is cataloged under CFDA number 21.020, Community Development Financial Institutions Program.
When was the opportunity posted?
The opportunity was posted on August 12, 2008.
What was the application deadline?
The application closing date was October 29, 2008.
Is this opportunity still open?
No. The opportunity was archived on October 30, 2008.
What is the Funding Opportunity Number for this announcement?
The Funding Opportunity Number is CDFI 2009 FATA.
What should applicants do if they had trouble accessing the full announcement electronically?
The contact listed for applicants who had trouble accessing the full announcement electronically is William Luecht at (202) 622-8042, referenced through the IT Help Desk.
What is the main source for the full requirements and instructions?
The main source for the full requirements is the CDFI Fund website page linked in the announcement, including the NOFA.
What does it mean that the program focuses on "clear community development outcomes"?
In the context provided, it means applicants are expected to show how their proposed activities will produce measurable community development impact, either by deepening services in an existing target market or expanding into new investment areas and reaching additional low-income or other targeted populations.
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