Community Development Financial Institutions

Total Funding Available: $100 million

Overview
According to the Web site of the Community Development Financial Institutions Fund, Community Development Financial Institutions (CDFIs) and Community Development Entities (CDEs) provide capital, credit and financial services in economically distressed communities. These community-based lenders are used to responsibly deploy resources to support homeowners and businesses.

The legislation appropriates an additional $100 million, of which $90 million will apply to the CDFI Program, $8 million to the Native Initiatives, and $2 million to administrative expenses.

Special Factors
Secretary of Treasury to submit detailed expenditure plan 60 days after enactment.

How to Access Funding
Not yet determined (subject to discretionary plan).

Federal Contact
Department of the Treasury
Community Development Financial Institutions Fund
www.cdfifund.gov

State Contact
Not applicable or unknown at this time

MMA Staff Contact
Matthew G. Feher, This e-mail address is being protected from spambots. You need JavaScript enabled to view it , (617) 426-7272

Last Updated on March 23, 2009