Opportunity Information: Apply for CDFI 2015 FATA
Apply for CDFI 2015 FATA
- The Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "Fiscal Year 2015 CDFI Program" 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 Sep 22, 2014 and posted on Sep 22, 2014.
- Applicants must submit their applications by Nov 24, 2014. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- The funding agency has allocated a total of $186,000,000.00 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 216 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
- Eligibility requirements for the Financial Assistance and Technical Assistance components of the FY 2015 CDFI Program can be found in the FY 2015 CDFI Program Notice of Funds Availability (NOFA).
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Opportunity Summary:
The Fiscal Year 2015 CDFI Program grant opportunity (Funding Opportunity Number: CDFI 2015 FATA) is a discretionary federal funding program run by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. Its purpose is to strengthen mission-driven lenders and financial intermediaries that serve underserved communities, referred to as "Target Markets." The program is designed to either expand the financing capacity of established, certified CDFIs or to help newer and developing CDFIs build the internal systems, staffing, and infrastructure needed to effectively deliver financial products and services in those target areas.
This opportunity is split into two main funding tracks. First, Financial Assistance (FA) awards provide up to $2,000,000 per award to Certified CDFIs. These funds are meant to build financial capacity so that awardees can increase lending and investment activity in their Target Markets. In practice, FA is typically used to support balance-sheet strength and financing activity, helping CDFIs scale their ability to provide credit and financial services where conventional markets often fall short. Second, Technical Assistance (TA) grants provide up to $125,000 to support organizational capacity-building for Certified, Certifiable, and Emerging CDFIs. TA funding is geared toward strengthening operations and organizational readiness, such as improving systems, developing policies and procedures, enhancing staff capacity, and building the foundational capabilities necessary to serve Target Markets effectively and sustainably.
The funding activity category is community development, and the assistance is offered through grant and other eligible award instruments as defined in the official notice. The estimated total funding available for this round is $186,000,000, with an anticipated 216 awards across FA and TA combined. Individual awards range from a minimum (floor) of $100,000 up to the maximum (ceiling) of $2,000,000, depending on the component and the applicant's eligibility and request. A cost-sharing or matching requirement applies, meaning applicants should expect to contribute matching funds or meet cost-share conditions in line with the program rules described in the official Notice of Funds Availability (NOFA).
Key dates for the FY 2015 round show the opportunity was posted on September 22, 2014, with an application deadline of November 24, 2014. The opportunity was archived on November 25, 2014. While the summary-level listing identifies eligible applicants as "Others," the detailed eligibility rules for both Financial Assistance and Technical Assistance are explicitly governed by the FY 2015 CDFI Program NOFA, which is the controlling document for definitions, requirements, selection criteria, and allowable uses of funds. Applicants were directed to the CDFI Fund website for the full announcement and all program details.
For assistance accessing the full announcement electronically, the listing provides a point of contact through the CDFI Fund IT Help Desk: Jay Santiago, phone 202-653-0300.
FY 2015 CDFI Program (CDFI 2015 FATA) Grant Opportunity FAQs
1) What is the FY 2015 CDFI Program grant opportunity (CDFI 2015 FATA)?
The FY 2015 CDFI Program grant opportunity (Funding Opportunity Number: CDFI 2015 FATA) is a discretionary federal funding program administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. It is intended to strengthen mission-driven lenders and financial intermediaries serving underserved communities, referred to as "Target Markets."
2) What is the main purpose of this funding?
The program is designed to strengthen CDFIs that serve Target Markets by either: (a) expanding the financing capacity of established, certified CDFIs, or (b) helping newer and developing CDFIs build the internal systems, staffing, and infrastructure needed to effectively deliver financial products and services in those Target Markets.
3) What agency runs this opportunity?
This opportunity is run by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund.
4) What does "Target Markets" mean in this opportunity?
In this listing, "Target Markets" refers to underserved communities where conventional markets often fall short, and where mission-driven lenders and financial intermediaries focus their services.
5) What are the two main funding tracks under this opportunity?
The opportunity is split into two primary components: Financial Assistance (FA) and Technical Assistance (TA).
6) What is Financial Assistance (FA) under the CDFI Program?
Financial Assistance (FA) awards provide funding to Certified CDFIs to build their financial capacity and increase lending and investment activity in their Target Markets. FA is typically used to support balance-sheet strength and financing activity, helping CDFIs scale their ability to provide credit and financial services in underserved areas.
7) Who is eligible for Financial Assistance (FA) awards?
Based on the information provided, FA awards are available to Certified CDFIs, with detailed eligibility governed by the FY 2015 CDFI Program Notice of Funds Availability (NOFA), which is the controlling document.
8) What is the maximum Financial Assistance (FA) award amount?
The maximum FA award amount is up to $2,000,000 per award.
9) What is Technical Assistance (TA) under the CDFI Program?
Technical Assistance (TA) grants are intended to support organizational capacity-building. TA funding is geared toward strengthening operations and organizational readiness, such as improving systems, developing policies and procedures, enhancing staff capacity, and building foundational capabilities needed to serve Target Markets effectively and sustainably.
10) Who is eligible for Technical Assistance (TA) grants?
Based on the information provided, TA funding is available to Certified, Certifiable, and Emerging CDFIs, with detailed eligibility governed by the FY 2015 CDFI Program NOFA.
11) What is the maximum Technical Assistance (TA) grant amount?
The maximum TA grant amount is up to $125,000.
12) What is the funding activity category for this opportunity?
The funding activity category is community development.
13) What type of federal assistance is offered?
The assistance is offered through grants and other eligible award instruments, as defined in the official notice.
14) How much total funding was estimated to be available for this round?
The estimated total funding available for this FY 2015 round is $186,000,000.
15) How many awards were anticipated?
The opportunity anticipated approximately 216 total awards across the Financial Assistance (FA) and Technical Assistance (TA) components combined.
16) What is the range of individual award sizes?
Individual awards range from a minimum (floor) of $100,000 up to a maximum (ceiling) of $2,000,000, depending on the component and the applicant's eligibility and request.
17) Is there a cost-sharing or matching requirement?
Yes. A cost-sharing or matching requirement applies. Applicants should expect to contribute matching funds or meet cost-share conditions in line with the program rules described in the FY 2015 CDFI Program NOFA.
18) Where are the official eligibility rules, definitions, and requirements explained?
The detailed eligibility rules for both FA and TA, along with definitions, requirements, selection criteria, and allowable uses of funds, are governed by the FY 2015 CDFI Program Notice of Funds Availability (NOFA). The NOFA is the controlling document for this opportunity.
19) What does the listing mean by "eligible applicants: Others"?
The summary-level listing identifies eligible applicants as "Others," but the controlling eligibility determinations for Financial Assistance and Technical Assistance are explicitly governed by the FY 2015 CDFI Program NOFA.
20) When was this funding opportunity posted?
The opportunity was posted on September 22, 2014.
21) What was the application deadline?
The application deadline was November 24, 2014.
22) When was the opportunity archived?
The opportunity was archived on November 25, 2014.
23) Where were applicants directed to find the full announcement and program details?
Applicants were directed to the CDFI Fund website for the full announcement and all program details.
24) Who can help with accessing the full announcement electronically?
The listing provides a point of contact through the CDFI Fund IT Help Desk: Jay Santiago.
25) What is the contact phone number for help accessing the announcement?
The phone number provided for the CDFI Fund IT Help Desk contact (Jay Santiago) is 202-653-0300.
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