Opportunity Information: Apply for CDFI 2024 NACA
Apply for CDFI 2024 NACA
- The Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "Fiscal Year 2024 NACA Program" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 21.012.
- This funding opportunity was created on 2023-12-08.
- Applicants must submit their applications by 2024-01-16. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- 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 40 candidate(s).
- Eligible applicants include: Others.
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Opportunity Summary:
The Fiscal Year 2024 Native American CDFI Assistance Program (NACA Program) is a discretionary federal grant opportunity run by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. The program is designed to strengthen the role of Native Community Development Financial Institutions (Native CDFIs) in providing loans and financial services in Native communities by increasing their ability to operate sustainably, grow lending activity, and better serve their designated service areas. The funding opportunity is listed under CFDA (Assistance Listing) 21.012 and uses a grant funding instrument.
This opportunity has two main funding tracks. First, it offers Financial Assistance (FA) in the form of Base-FA awards of up to $2,000,000 for Certified Native CDFIs. The purpose of these awards is to build the recipient's financial capacity so the organization can increase lending and related financial services in its Eligible Markets and/or Target Markets. In practical terms, FA is aimed at helping established, certified Native CDFIs scale up their impact by strengthening their balance sheet and operational capacity to make more loans and investments aligned with community development goals.
Second, the program offers Technical Assistance (TA) grants of up to $400,000. TA funding is intended for entities that are already Native CDFIs, are in the process of becoming a Native CDFI, or plan to create a Native CDFI. This track is generally geared toward building foundational organizational capacity, such as developing systems, policies, staff expertise, and other capabilities needed to either achieve certification as a Native CDFI or to operate more effectively as one. While the FA track is explicitly tied to Certified Native CDFIs, the TA track is broader in that it can support organizations at different stages of forming or strengthening a Native CDFI.
According to the posted opportunity information, the CDFI Fund anticipated making about 40 awards under this funding round, with an award ceiling of $2,000,000 (reflecting the maximum Base-FA award amount). The opportunity was posted with a closing date of January 16, 2024, and an initial posting/creation date of December 8, 2023. Eligible applicants are listed generally as "Others," with the specific eligibility rules for both FA and TA determined by the formal Notice of Funds Availability (NOFA). Applicants are expected to rely on the FY 2024 NACA Program NOFA for the definitive requirements, including who qualifies for each component, what documentation is required, how applications are evaluated, and any compliance or reporting obligations tied to an award.
Overall, the FY 2024 NACA Program is structured to support Native-led community finance in two ways: larger FA awards for certified Native CDFIs ready to expand lending and smaller (but still substantial) TA grants that help build or professionalize the institutions that make that lending possible. For the most authoritative details, including eligibility, allowable uses, and application instructions, applicants are directed to the FY 2024 NACA Program NOFA published on the CDFI Fund website.
FY 2024 Native American CDFI Assistance Program (NACA) - FAQs
What is the FY 2024 Native American CDFI Assistance Program (NACA Program)?
The FY 2024 Native American CDFI Assistance Program (NACA Program) is a discretionary federal grant opportunity administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. It is designed to strengthen the role of Native Community Development Financial Institutions (Native CDFIs) in providing loans and financial services in Native communities.
What is the overall purpose of the NACA Program?
The program aims to increase the ability of Native CDFIs to operate sustainably, grow lending activity, and better serve their designated service areas. It supports Native-led community finance by improving the capacity of institutions that deliver loans and related financial services in Native communities.
What federal listing number is associated with this opportunity?
This funding opportunity is listed under CFDA (Assistance Listing) 21.012.
What type of funding instrument is used?
The opportunity uses a grant funding instrument.
What are the main funding tracks available under this opportunity?
The FY 2024 NACA Program has two primary tracks: Financial Assistance (FA) and Technical Assistance (TA).
What is Financial Assistance (FA) under the NACA Program?
Financial Assistance (FA) is offered through Base-FA awards intended to build the recipient's financial capacity so the organization can increase lending and related financial services in its Eligible Markets and/or Target Markets. In practical terms, FA is geared toward helping established Native CDFIs scale their impact by strengthening their balance sheet and operational capacity to make more loans and investments aligned with community development goals.
Who is eligible for Financial Assistance (FA) awards?
Based on the posted opportunity information, Base-FA awards are for Certified Native CDFIs. The definitive eligibility requirements are determined by the formal FY 2024 NACA Program Notice of Funds Availability (NOFA).
What is the maximum award amount for Financial Assistance (FA)?
The program offers Base-FA awards of up to $2,000,000.
What is Technical Assistance (TA) under the NACA Program?
Technical Assistance (TA) funding is intended to build foundational organizational capacity. Examples described in the opportunity overview include developing systems, policies, staff expertise, and other capabilities needed to achieve certification as a Native CDFI or to operate more effectively as one.
Who is eligible for Technical Assistance (TA) grants?
TA funding is intended for entities that are already Native CDFIs, are in the process of becoming a Native CDFI, or plan to create a Native CDFI. The definitive eligibility requirements for TA are set by the FY 2024 NACA Program NOFA.
What is the maximum award amount for Technical Assistance (TA)?
The maximum TA grant amount listed is up to $400,000.
How do the FA and TA tracks differ in practical terms?
FA is oriented toward Certified Native CDFIs that are ready to expand lending and related services by strengthening financial capacity. TA is broader and can support organizations at different stages, including those forming a Native CDFI or strengthening their operational readiness and institutional capacity.
How many awards did the CDFI Fund anticipate making under this funding round?
The posted opportunity information indicated the CDFI Fund anticipated making about 40 awards under this round.
What is the award ceiling for this funding opportunity?
The award ceiling shown for this opportunity is $2,000,000, which aligns with the maximum Base-FA award amount.
When was this opportunity posted and when did it close?
The initial posting/creation date was December 8, 2023, and the closing date was January 16, 2024.
What types of applicants are generally listed as eligible?
Eligible applicants are listed generally as "Others," with the specific eligibility rules for FA and TA determined by the FY 2024 NACA Program NOFA.
Where can applicants find the definitive eligibility rules and application requirements?
Applicants are expected to rely on the FY 2024 NACA Program NOFA for authoritative requirements, including who qualifies for each component, what documentation is required, how applications are evaluated, and what compliance or reporting obligations apply.
Does the posted overview provide full details on allowable uses of funds?
No. The overview describes the general intent of FA (building financial capacity to increase lending and services) and TA (building organizational capacity and readiness), but the definitive allowable uses and restrictions are provided in the FY 2024 NACA Program NOFA.
Does the posted overview explain how applications are evaluated?
The overview indicates that application evaluation details are contained in the FY 2024 NACA Program NOFA, which applicants should use for the authoritative criteria and process.
Are compliance and reporting requirements described in the summary?
The summary notes that any compliance or reporting obligations tied to an award are addressed in the FY 2024 NACA Program NOFA rather than in the brief opportunity overview.
What is the core community impact the program is trying to support?
The program is structured to support Native-led community finance by strengthening Native CDFIs so they can provide more loans and financial services in Native communities and better serve their designated service areas.
Which component is better suited for an organization that is not yet certified as a Native CDFI?
Based on the posted description, the TA track is intended to support entities that are in the process of becoming a Native CDFI or plan to create a Native CDFI. FA is described as being for Certified Native CDFIs. Final determinations should be made using the FY 2024 NACA Program NOFA.
If an organization is already a Certified Native CDFI, which track is emphasized for scaling lending?
The FA track is described as supporting Certified Native CDFIs by building financial capacity so they can increase lending and related financial services in Eligible Markets and/or Target Markets.
Is the NACA Program meant only for lending expansion, or also for institutional development?
Both. FA is described as supporting lending and service expansion by strengthening financial capacity, while TA is described as supporting institutional development (systems, policies, staff expertise, and related capacity-building) to help Native CDFIs form, certify, or operate more effectively.
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