Opportunity Information: Apply for CDFI 2015 FATA 2
Apply for CDFI 2015 FATA 2
- The Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "FY 2015 CDFI Program FA and TA Awards Second Window" 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 Mar 10, 2015 and posted on Jan 20, 2015.
- Applicants must submit their applications by Mar 11, 2015. (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 2015 CDFI Program FA and TA Awards Second Window (Funding Opportunity Number CDFI 2015 FATA 2) is a discretionary federal grant opportunity administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under CFDA 21.020. The program is designed to strengthen the capacity of mission-driven financial organizations that serve low-income communities by supporting the delivery of responsible credit, capital, and financial services in designated Target Markets. This "Second Window" was opened as an extra application period tied to changes in the FY 2015 appropriation, specifically a waiver of certain matching fund requirements for some applicants, and it gave eligible organizations an additional chance to apply or revise requests.
The opportunity offers two main types of support. Financial Assistance (FA) awards are intended for certified CDFIs that have comprehensive business plans and can demonstrate how they will produce measurable community development outcomes by deploying capital and financial services. FA funds typically help CDFIs expand lending and investment activities, strengthen balance sheets, and scale programs that benefit underserved communities. Technical Assistance (TA) grants are aimed at building organizational capacity, and they are available both to existing CDFIs and to organizations seeking to become certified CDFIs. TA can support the systems, staffing, planning, and infrastructure needed to better meet capital access and community development needs, expand into new Investment Areas or targeted populations (including Low Income Targeted Populations and Other Targeted Populations), and move toward or complete the CDFI certification process.
A central reason for the second application window was that Congress included a waiver of the matching funds requirement for entities applying for FA awards through the Native American CDFI Assistance (NACA) Program, the Healthy Food Financing Initiative (HFFI), and the Small and/or Emerging CDFI Assistance (SECA) component of the CDFI Program. Because matching funds can be a significant barrier for smaller or specialized CDFIs, the CDFI Fund opened this additional 45-day window to ensure organizations that had not applied under SECA or NACA by the original November 24, 2014 deadline had a fair opportunity to apply under the new, more flexible conditions. It also allowed SECA and NACA applicants that had already submitted by November 24, 2014 to update their award request information to reflect the matching funds waiver.
In terms of scale and award structure, the CDFI Fund anticipated making roughly 150 awards under this announcement, with an estimated total funding amount of $179,000,000. Individual awards ranged from a floor of $1 to a ceiling of $2,000,000, reflecting the fact that award amounts can vary widely based on applicant type, capacity, and proposed impact. The funding instrument is listed as "Grant" and "Other," and the overall activity category is community development. A cost-sharing or matching requirement is indicated as "Yes" in the listing, but the key nuance for this second window is that the FY 2015 appropriation specifically waived matching requirements for certain FA applicants and components (notably NACA, HFFI, and SECA), which is what triggered the additional window and the option to revise previously submitted SECA and NACA FA applications.
Eligibility is centered on CDFI status. Applicants generally needed to be certified as a CDFI by the CDFI Fund, or be able to demonstrate they are "certifiable" as a CDFI, depending on whether they were applying for FA (typically requiring certification) or TA (which can support organizations pursuing certification). The listing notes "Others (see text field entitled Additional Information on Eligibility for clarification)," signaling that specific eligibility conditions, including definitions and component-specific requirements, were provided in the official Notice of Funds Availability (NOFA) on the CDFI Fund website. In practice, the NOFA is where applicants would find the detailed rules on what qualifies as a Target Market, what documentation is needed to prove organizational and financial capacity, how performance and impact are evaluated, and which uses of funds are allowable under FA versus TA.
Key dates for this second window reflect a short, targeted application period. The opportunity was posted January 20, 2015, with an original closing date of March 5, 2015, later updated to a current closing date of March 11, 2015, and an archive date of March 12, 2015. Those dates underscore that this was not a brand-new annual competition so much as an additional submission window created to accommodate the matching waiver policy change and to ensure equitable access for eligible organizations that were affected by the earlier deadline.
For applicants and stakeholders looking for the authoritative program rules and submission instructions, the announcement directs users to a CDFI Fund webpage containing all relevant CDFI Program details and the full NOFA. For technical issues accessing the announcement, the contact listed is Jay Santiago at the IT Help Desk, (202) 653-0326.
FAQs: FY 2015 CDFI Program FA and TA Awards Second Window (CDFI 2015 FATA 2)
What is this funding opportunity?
This is the FY 2015 CDFI Program Financial Assistance (FA) and Technical Assistance (TA) Awards Second Window, a discretionary federal grant opportunity administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under CFDA 21.020. Its purpose is to strengthen mission-driven financial organizations serving low-income communities by supporting responsible credit, capital, and financial services in designated Target Markets.
Why was there a "Second Window" for FY 2015?
The Second Window was opened because the FY 2015 appropriation included a waiver of certain matching fund requirements for some applicants and components. The CDFI Fund created an additional 45-day application period to give eligible organizations an extra chance to apply under the updated matching rules, and to allow certain prior applicants to revise their FA requests to reflect the waiver.
What is the Funding Opportunity Number for this announcement?
The Funding Opportunity Number is CDFI 2015 FATA 2.
Which agency administers this program?
The program is administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund.
What is the CFDA number associated with this opportunity?
The listing is under CFDA 21.020.
What kinds of awards are available?
There are two main types of support: Financial Assistance (FA) awards and Technical Assistance (TA) grants.
What is Financial Assistance (FA) and who is it for?
FA awards are intended for certified CDFIs that have comprehensive business plans and can show how they will produce measurable community development outcomes by deploying capital and financial services. FA funds typically support expanded lending and investment activity, balance sheet strengthening, and scaling programs that benefit underserved communities.
What is Technical Assistance (TA) and who is it for?
TA grants are intended to build organizational capacity. They are available to existing CDFIs and to organizations seeking to become certified CDFIs. TA can support systems, staffing, planning, and infrastructure needed to better meet capital access and community development needs, expand into new Investment Areas or targeted populations (including Low Income Targeted Populations and Other Targeted Populations), and move toward or complete the CDFI certification process.
What is the main policy change tied to this Second Window?
The main change was a waiver of the matching funds requirement for entities applying for FA awards through the Native American CDFI Assistance (NACA) Program, the Healthy Food Financing Initiative (HFFI), and the Small and/or Emerging CDFI Assistance (SECA) component of the CDFI Program.
Does this opportunity require matching funds or cost sharing?
The listing indicates a cost-sharing or matching requirement ("Yes"). However, for this Second Window, the FY 2015 appropriation specifically waived matching requirements for certain FA applicants and components (notably NACA, HFFI, and SECA), which is the key nuance that prompted the additional application window.
Who benefits most from the matching funds waiver described here?
The waiver was particularly important for smaller or specialized CDFIs because matching funds can be a significant barrier. The Second Window aimed to ensure these organizations had a fair opportunity to apply under the more flexible conditions.
Who could use the Second Window to apply if they missed an earlier deadline?
The Second Window was opened to ensure organizations that had not applied under SECA or NACA by the original November 24, 2014 deadline had an additional chance to apply under the updated matching waiver conditions.
Could organizations that already applied earlier submit updates during the Second Window?
Yes. SECA and NACA applicants that had already submitted by November 24, 2014 were allowed to update their FA award request information to reflect the matching funds waiver.
How many awards were expected to be made under this announcement?
The CDFI Fund anticipated making roughly 150 awards under this announcement.
What was the estimated total funding amount available?
The estimated total funding amount was $179,000,000.
What were the minimum and maximum award amounts?
Individual awards ranged from a floor of $1 to a ceiling of $2,000,000.
Why does the award range start at $1?
The information provided notes a floor of $1 and a ceiling of $2,000,000, reflecting that award amounts can vary widely based on applicant type, capacity, and proposed impact.
What is the funding instrument type?
The funding instrument is listed as "Grant" and "Other."
What is the activity category for this opportunity?
The overall activity category is community development.
Who is eligible to apply?
Eligibility is centered on CDFI status. Applicants generally needed to be certified as a CDFI by the CDFI Fund, or be able to demonstrate they are "certifiable" as a CDFI, depending on whether they were applying for FA (typically requiring certification) or TA (which can support organizations pursuing certification). The listing also notes "Others (see text field entitled Additional Information on Eligibility for clarification)," indicating that detailed eligibility conditions were provided in the official NOFA.
Do FA and TA have different eligibility expectations around CDFI certification?
Yes. Based on the information provided, FA typically requires applicants to be certified CDFIs, while TA can be used by both existing CDFIs and organizations working toward CDFI certification.
Where can applicants find the detailed rules and requirements?
The announcement directs users to a CDFI Fund webpage that contains the CDFI Program details and the full Notice of Funds Availability (NOFA). The NOFA is described as the authoritative source for definitions and component-specific requirements, documentation standards, impact and performance evaluation criteria, and allowable uses of funds under FA versus TA.
What kinds of details are typically covered in the NOFA for this opportunity?
Based on the description provided, the NOFA is where applicants would find detailed rules such as what qualifies as a Target Market, what documentation is required to demonstrate organizational and financial capacity, how performance and impact are evaluated, and which uses of funds are allowable under FA versus TA.
When was this Second Window posted?
The opportunity was posted on January 20, 2015.
What was the closing date for this Second Window?
The original closing date was March 5, 2015, and it was later updated to a current closing date of March 11, 2015.
When was the archive date?
The archive date was March 12, 2015.
What do the dates suggest about the nature of this funding round?
The dates indicate this was a short, targeted application period (an additional submission window) rather than a brand-new annual competition, created to accommodate the matching waiver policy change and to ensure equitable access for affected eligible organizations.
Who should be contacted for technical issues accessing the announcement?
For technical issues accessing the announcement, the listed contact is Jay Santiago at the IT Help Desk, (202) 653-0326.
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Applicants also applied for:
Applicants who have applied for this opportunity (CDFI 2015 FATA 2) also looked into and applied for these:
| Funding Opportunity |
|---|
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| FY 2015 Bank Enterprise Award Program Apply for CDFI 2015 BEA Funding Number: CDFI 2015 BEA Agency: Community Development Financial Institutions Category: Community Development Funding Amount: $2,000,000 |
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| Support Chad s Ministry of Finance and budget in the compilation of a Citizen Budget (CB) Apply for S CD300 15 GR 010 AF 071515 Funding Number: S CD300 15 GR 010 AF 071515 Agency: Bureau of African Affairs Category: Community Development Funding Amount: $85,000 |
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| 2008 BEA Program Apply for CDFI 2008 BEA Funding Number: CDFI 2008 BEA Agency: Community Development Financial Institutions Category: Community Development Funding Amount: $500,000 |
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