Opportunity Information: Apply for CDFI 2011 FATA
Apply for CDFI 2011 FATA
- The Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "FY 2011 CDFI Program Financial Assistance Technical Assistance Awards" 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 Oct 5, 2010 and posted on Oct 5, 2010.
- Applicants must submit their applications by Nov 19, 2010. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- The funding agency has allocated a total of $135,000,000.00 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 200 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 on the CDFI Funds website for more detailed information.
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Opportunity Summary:
The FY 2011 CDFI Program Financial Assistance and Technical Assistance Awards (Funding Opportunity Number: CDFI 2011 FATA) 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 work of community development financial institutions by funding activities that expand access to responsible financial products and services in underserved communities. At a high level, it supports organizations that can show they will generate measurable community development results by delivering credit, capital, and financial services in their designated markets, and it also supports organizations that need resources to build the internal capacity required to do that work effectively.
The opportunity offers two main types of awards. First, Financial Assistance (FA) awards are aimed at already-certified CDFIs that have comprehensive business plans and can demonstrate how they will produce community development impact. FA funding is intended to help these institutions deploy capital and financial services in their existing Target Markets and also to help them grow into new Investment Areas or expand services to additional Low Income Targeted Populations or other targeted groups identified in the program rules. In practice, FA awards are meant to help a CDFI scale lending and investment activity, increase the flow of affordable credit, and deepen financial service delivery where conventional financing is limited.
Second, Technical Assistance (TA) grants focus on capacity building rather than direct deployment of capital. TA funding is available both to certified CDFIs and to entities that are not yet certified but are proposing to become CDFIs. The goal is to help applicants strengthen the systems, staffing, technology, policies, planning, and operational capabilities needed to better meet community development and capital access needs in their Target Markets. TA can also support expansion into new Investment Areas and targeted populations, and it specifically includes support for organizations working toward achieving CDFI certification, which is a key eligibility and credibility milestone within this field.
The program is categorized under community development and is listed under CFDA number 21.020 (Community Development Financial Institutions Program). For FY 2011, the estimated total funding amount is $135,000,000, with an anticipated 200 awards overall. Individual award sizes range from a floor of $1 to a ceiling of $2,000,000, depending on the type of award and the applicant's proposal. A cost sharing or matching requirement applies, meaning applicants should expect that some portion of the project or award-related activities must be matched according to the rules described in the official Notice of Funds Availability (NOFA).
Eligibility is limited to applicants that are either already certified as CDFIs by the CDFI Fund or can be certified (described as "certifiable") under the CDFI Fund's certification requirements. The listing notes that eligible applicants are further clarified in the official NOFA, which is the controlling document for details such as applicant types, required documentation, what counts as eligible uses of funds, compliance expectations, and how the Fund evaluates applications.
Key dates for this opportunity show it was posted and created on October 5, 2010, with an application closing date of November 19, 2010. The archive date is November 20, 2010, indicating the opportunity closed after that cycle. Anyone seeking the full set of rules, application instructions, and evaluation criteria would be directed to the CDFI Fund website page referenced in the announcement, where the NOFA and related guidance would be available. For technical issues accessing the announcement electronically, the point of contact provided is Jay Santiago at the IT Help Desk, phone (202) 622-2455.
Frequently Asked Questions (FAQs) - FY 2011 CDFI Program FA and TA Awards (CDFI 2011 FATA)
What is the FY 2011 CDFI Program Financial Assistance and Technical Assistance Awards opportunity?
The FY 2011 CDFI Program Financial Assistance and Technical Assistance Awards (Funding Opportunity Number: CDFI 2011 FATA) is a discretionary federal grant opportunity administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. It is intended to strengthen community development financial institutions by funding activities that expand access to responsible financial products and services in underserved communities.
Who runs this grant program?
This opportunity is run by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund.
What is the main purpose of this funding?
The program is designed to support organizations that can generate measurable community development results by delivering credit, capital, and financial services in their Target Markets. It also supports organizations seeking resources to build the internal capacity needed to deliver those services effectively.
What types of awards are available under this opportunity?
Two main award types are offered: Financial Assistance (FA) awards and Technical Assistance (TA) grants.
What is a Financial Assistance (FA) award and who is it for?
Financial Assistance (FA) awards are aimed at already-certified CDFIs that have comprehensive business plans and can demonstrate how they will produce community development impact. FA funding is intended to help certified CDFIs deploy capital and financial services in their existing Target Markets and also to support growth into new Investment Areas or expansion to additional Low Income Targeted Populations or other targeted groups identified in the program rules.
What kinds of activities does FA funding support at a high level?
FA awards are meant to help a CDFI scale lending and investment activity, increase the flow of affordable credit, and deepen financial service delivery in places where conventional financing is limited. The specific eligible uses and requirements are further clarified in the official Notice of Funds Availability (NOFA).
What is a Technical Assistance (TA) grant and who can apply?
Technical Assistance (TA) grants focus on capacity building rather than direct deployment of capital. TA funding is available to certified CDFIs and also to entities that are not yet certified but are proposing to become CDFIs (described as "certifiable").
What kinds of capacity-building needs can TA funding address?
TA is intended to help applicants strengthen systems, staffing, technology, policies, planning, and operational capabilities needed to better meet community development and capital access needs in their Target Markets. The opportunity also notes that TA can support expansion into new Investment Areas and targeted populations, and it includes support for organizations working toward achieving CDFI certification.
Does this program support organizations that are not yet CDFI-certified?
Yes. While FA awards are aimed at already-certified CDFIs, TA funding is available both to certified CDFIs and to entities that are not yet certified but are proposing to become CDFIs (certifiable under the CDFI Fund's certification requirements).
What is the CFDA number for this program?
The program is listed under CFDA number 21.020, Community Development Financial Institutions Program.
How much funding is available in FY 2011?
The estimated total program funding for FY 2011 is $135,000,000.
How many awards were anticipated for FY 2011?
The announcement anticipates approximately 200 awards overall.
What is the minimum and maximum award amount?
Individual award sizes range from a minimum (floor) of $1 to a maximum (ceiling) of $2,000,000, depending on the award type and the applicant's proposal.
Is there a matching or cost-sharing requirement?
Yes. A cost sharing or matching requirement applies. Applicants should expect that some portion of the project or award-related activities must be matched, according to the rules described in the official NOFA.
Who is eligible to apply?
Eligibility is limited to applicants that are either already certified as CDFIs by the CDFI Fund or can be certified (certifiable) under the CDFI Fund's certification requirements. The official NOFA further clarifies eligible applicant types and related requirements.
What document controls the detailed rules and requirements for this opportunity?
The official Notice of Funds Availability (NOFA) is the controlling document for details such as eligible applicant types, required documentation, eligible uses of funds, compliance expectations, and how the CDFI Fund evaluates applications.
Where can applicants find the NOFA and official guidance?
The announcement directs interested parties to the CDFI Fund website page referenced in the posting, where the NOFA and related guidance would be available.
When was this opportunity posted and when did applications close?
The opportunity was posted and created on October 5, 2010. The application closing date was November 19, 2010.
Is this opportunity still open?
No. The archive date is November 20, 2010, indicating the opportunity closed after that cycle.
What should applicants do if they have technical issues accessing the announcement electronically?
For technical issues accessing the announcement electronically, the point of contact provided is Jay Santiago at the IT Help Desk, phone (202) 622-2455.
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