Step 2: Application Process
Below are the instructions, supplemental materials, and Notice of Funds Availability (NOFA) for the FY 2024 round of the CDFI Program. These resources are meant to give you more insight into the process of applying for a CDFI Program award.
FY 2024 Round Getting Ready to Apply Steps
Organizations interested in applying for an award under the FY 2024 CDFI Program are encouraged to read through the CDFI Funds Impact Blog’s important information about preparing to apply for an award.
For information on how to apply for financial assistance, technical assistance, and supplemental awards, contact the CDFI Program Help Desk at [email protected] or (202) 653-0421, option 1. treas. gov.
Note: For upcoming funding rounds, the requirements specified in the NOFA and the application materials listed on this page may vary.
FY 2024 APPLICATION TIMELINE
| Date | Description |
|---|---|
| December 8, 2023 | FY 2024 Round Opening |
| January 16, 2024 by 11:59 PM ET | Deadline for Creating an AMIS Account |
| January 16, 2024 by 11:59 PM ET | Deadline to enter EIN and DUNS numbers in AMIS |
| January 16, 2024 by 11:59 PM ET | Deadline for Submitting SF-424 through Grants.gov |
| February 13, 2024 by 5:00 PM ET | Last Day the CDFI Fund Will Answer Questions About the Application |
| February 15, 2024 by 5:00 PM ET | Deadline to Receive AMIS Support From the IT Help Desk |
| February 15, 2024 by 11:59 PM ET | Deadline to submit the Title VI Worksheet in AMIS |
| February 15, 2024 by 11:59 PM ET | Deadline for Submitting FA/TA Application through AMIS |
| March 1, 2024 by 11:59 PM ET | Deadline to Receive Support from Compliance Monitoring and Evaluation (CCME) Help Desk regarding CDFI Certification Applications (for Uncertified FA Applicants) |
| March 5, 2024 by 11:59 PM ET | Deadline for Submitting CDFI Certification Applications (for Uncertified Financial Assistance Applicants) |
| Fall 2024 | FY 2024 Technical Assistance and Financial Assistance Awards Announced |
FY 2024 APPLICATION WEBINARS
Four specifically scheduled live webinars are being held by the CDFI Fund to offer a forum for applicants to ask questions regarding the FY 2024 CDFI Program Application. Advance registration is not required to participate in the webinars. Five minutes prior to the start of the webinars, you can access them by clicking the links below.
Viewing these webinars requires the use of WebEx. To download the WebEx Event Manager, see the instructions on the Verizons WebEx Downloads page.
| Webinar Topic | Date and Time | Conference | Access Link |
|---|---|---|---|
| FY 2024 TA Application Webinar Workshop | December 19, 2023 2:00 PM – 5:00 PM ET | Completed | Access Webinar Recording |
| FY 2024 FA Application Webinar Workshop | December 20, 2023 2:00 PM – 5:00 PM ET | Completed | Access Webinar Recording |
| FY 2024 Matching Funds Webinar Workshop | January 23, 2024 2:00 PM – 4:00 PM ET | Completed | Access Webinar Recording |
| FY 2024 CDFI Program Q&A Webinar | January 30, 2024 2:00 PM – 4:00 PM ET | Dial: 1-888-455-8849 Conference: RWXW3315289 Passcode: 2206211 | Access Webinar |
FINANCIAL ASSISTANCE APPLICATION MATERIALS
The following are the application materials for the Financial Assistance Application for FY 2024. Applicants should continue to check this site for any updates.
TECHNICAL ASSISTANCE APPLICATION MATERIALS
Below are the application materials needed to submit a technical assistance request for FY 2024. Applicants should continue to check this site for any updates.
To find out which CDFIs and CDEs are offering services in your area, click this link.
FAQ
Who is eligible for CDFI loan?
A CDFI must be certified or certifiable in order to be eligible for Small and/or Emerging CDFI Assistance (SECA). Additionally, the applicant must request $700,000 or less in FA funds and not exceed the applicable maximum asset threshold of $250 million (for insured depository institutions) or have started operations as of the
How does CDFI funding work?
Banks can provide CDFI financing support in three different ways: through debt, which represents funds lent to CDFIs; through equity investments, which represent capital invested in CDFIs; and through deposits, which are funds placed in CDFI depository institutions, usually earning interest and insured by a federal government agency.
What credit score do you need for CDFI?
Access to small business financing is facilitated by CDFIs. This includes meeting certain financial requirements, such as having a minimum personal credit score of 700 and operating a business for three years or longer.
Can you get a CDFI loan with bad credit?
In an effort to support impoverished communities, Community Development Financial Institutions, or CDFIs, may provide business loans to startups with poor credit. If you are eligible, these organizations—usually banks and credit unions—can provide competitive rates.
Read More :
https://www.cdfifund.gov/programs-training/programs/cdfi-program/apply-step
https://www.cdfifund.gov/programs-training/programs/cdfi-program