Opportunity Information: Apply for CDFI 2014 FATA
Apply for CDFI 2014 FATA
- The Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "FY 2014 CDFI Program FA and TA 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 28, 2013 and posted on Oct 28, 2013.
- Applicants must submit their applications by Dec 23, 2013. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- The funding agency has allocated a total of $179,000,000.00 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 150 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 (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 2014 CDFI Program FA and TA Awards opportunity was a discretionary federal grant program run by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund (CFDA 21.020). Its purpose was to strengthen and expand the work of CDFIs that deliver loans, investments, and financial services in underserved communities. The CDFI Fund structured this funding round to support two main tracks: Financial Assistance (FA) awards for certified CDFIs that are ready to deploy capital and deliver measurable community development outcomes, and Technical Assistance (TA) grants for both existing CDFIs and organizations working toward CDFI certification that need capacity-building support.
Financial Assistance awards were intended for CDFIs with comprehensive business plans that could show how they would create demonstrable community development impact. In practical terms, this meant helping qualified CDFIs increase lending and investment activity, expand financial services, and deepen their reach within their current Target Markets or grow into new Investment Areas. The program also emphasized serving Low Income Targeted Populations and other designated targeted populations, reflecting the CDFI Fund's focus on improving access to responsible capital in places and among groups that conventional finance often overlooks.
Technical Assistance grants were designed to help organizations build the internal strength needed to operate effectively as community development lenders and investors. TA funding generally supports activities like improving financial systems, strengthening governance and staff capacity, refining products and underwriting, enhancing data and impact measurement, and other operational improvements that make an institution more capable of meeting community development and capital access needs. TA was also explicitly available to entities proposing to become CDFIs, with the goal of helping them reach a point where they can qualify for CDFI certification and then participate more fully in future CDFI Fund programs.
This funding opportunity anticipated a relatively large number of awards, with an estimated 150 awards expected. The estimated total funding available was $179,000,000. Individual award sizes ranged from a floor of $1 to a ceiling of $2,000,000, indicating that awards could vary widely depending on the applicant type, project scope, and the CDFI Fund's funding decisions. The listing notes a cost sharing or matching requirement, meaning recipients would be expected to provide some level of matching funds or leverage consistent with the rules described in the official Notice of Funds Availability (NOFA).
Eligibility centered on CDFI status. Applicants needed to be certified as a CDFI by the CDFI Fund or be certifiable, which matters for entities seeking TA to reach certification readiness. The detailed eligibility rules and application requirements were provided in the NOFA hosted on the CDFI Fund's website, and the posting directed applicants to that source for the full specifics.
Key dates for this round show it was posted on October 28, 2013, and closed on December 23, 2013, with the archive date listed as December 24, 2013. For technical issues accessing the full announcement electronically, the contact listed was Jay Santiago at the IT Help Desk, phone 202-653-0326.
FY 2014 CDFI Program (FA and TA Awards) - FAQs
What is the FY 2014 CDFI Program FA and TA Awards opportunity?
This opportunity was a discretionary federal grant program administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under CFDA 21.020. The program was designed to strengthen and expand the work of CDFIs providing loans, investments, and financial services in underserved communities.
What was the purpose of this funding opportunity?
The purpose was to support community development finance by helping CDFIs expand their capacity to deliver responsible capital and financial services, with an emphasis on measurable community development outcomes in underserved markets and among targeted populations.
What were the two main funding tracks in this round?
The CDFI Fund structured this round around two tracks: Financial Assistance (FA) awards and Technical Assistance (TA) grants.
What is a Financial Assistance (FA) award in this program?
FA awards were intended for certified CDFIs that were ready to deploy capital and demonstrate community development impact. These awards supported expanding lending and investment activity, increasing financial services, and deepening or expanding reach within Target Markets, including growth into new Investment Areas.
Who was the intended audience for Financial Assistance (FA) awards?
FA awards were intended for certified CDFIs with comprehensive business plans and the ability to show how they would create demonstrable community development impact.
What kinds of activities were FA awards intended to support?
Based on the description provided, FA awards were intended to help qualified CDFIs:
- Increase lending and investment activity
- Expand financial services
- Deepen service in existing Target Markets
- Grow into new Investment Areas
What populations or communities were emphasized by the program?
The program emphasized service to Low Income Targeted Populations and other designated targeted populations, reflecting the CDFI Fund's focus on improving access to responsible capital where conventional finance is often limited.
What is a Technical Assistance (TA) grant in this program?
TA grants were designed to support capacity-building and internal strengthening so that organizations could operate effectively as community development lenders and investors and better meet community development and capital access needs.
Who was eligible for Technical Assistance (TA) grants?
TA was available both to existing CDFIs and to organizations working toward CDFI certification (entities proposing to become CDFIs) that needed support to build capacity and reach certification readiness.
What kinds of activities could TA funding support?
TA funding generally supported operational and capacity-building improvements such as:
- Improving financial systems
- Strengthening governance
- Building staff capacity
- Refining products and underwriting
- Enhancing data collection and impact measurement
- Other operational improvements that increase effectiveness
How many awards were expected to be made?
The opportunity anticipated a relatively large number of awards, with an estimated 150 awards expected.
How much total funding was estimated to be available?
The estimated total funding available for this funding round was $179,000,000.
What was the minimum and maximum award amount?
Individual award sizes ranged from a minimum of $1 to a maximum of $2,000,000. This indicates awards could vary widely depending on applicant type, project scope, and CDFI Fund funding decisions.
Was cost sharing or matching required?
Yes. The listing noted a cost sharing or matching requirement, meaning recipients were expected to provide some level of matching funds or leverage consistent with the rules in the official Notice of Funds Availability (NOFA).
Who was eligible to apply?
Eligibility centered on CDFI status. Applicants needed to be certified as a CDFI by the CDFI Fund or be certifiable, which was particularly relevant for entities seeking TA support to reach certification readiness.
Where were the official eligibility rules and application requirements published?
The detailed eligibility rules and application requirements were provided in the NOFA hosted on the CDFI Fund's website, and applicants were directed there for complete specifics.
When was this opportunity posted?
The posting date for this round was October 28, 2013.
What was the application deadline?
The opportunity closed on December 23, 2013.
When was the opportunity archived?
The archive date listed was December 24, 2013.
Who should applicants contact for technical issues accessing the full announcement electronically?
For technical issues accessing the full announcement electronically, the contact listed was Jay Santiago at the IT Help Desk, phone 202-653-0326.
Which federal program listing identifier was associated with this opportunity?
The opportunity was associated with CFDA 21.020.
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