Community Development Financial Institutions Fund (CDFI Fund) | LinkedIn (original) (raw)

About us

The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to Community Development Financial Institutions (CDFIs). The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement Act of 1994, as a bipartisan initiative. Since its creation, the CDFI Fund has awarded more than 5.2billiontoCDFIs,communitydevelopmentorganizations,andfinancialinstitutionsthrough:theBankEnterpriseAwardProgram;theCapitalMagnetFund;theCDFIRapidResponseProgram;theCommunityDevelopmentFinancialInstitutionsProgram,includingtheHealthyFoodFinancingInitiative;theEconomicMobilityCorps;theFinancialEducationandCounselingPilotProgram;theNativeAmericanCDFIAssistanceProgram;andtheSmallDollarLoanProgram.Inaddition,theCDFIFundhasallocated5.2 billion to CDFIs, community development organizations, and financial institutions through: the Bank Enterprise Award Program; the Capital Magnet Fund; the CDFI Rapid Response Program; the Community Development Financial Institutions Program, including the Healthy Food Financing Initiative; the Economic Mobility Corps; the Financial Education and Counseling Pilot Program; the Native American CDFI Assistance Program; and the Small Dollar Loan Program. In addition, the CDFI Fund has allocated 5.2billiontoCDFIs,communitydevelopmentorganizations,andfinancialinstitutionsthrough:theBankEnterpriseAwardProgram;theCapitalMagnetFund;theCDFIRapidResponseProgram;theCommunityDevelopmentFinancialInstitutionsProgram,includingtheHealthyFoodFinancingInitiative;theEconomicMobilityCorps;theFinancialEducationandCounselingPilotProgram;theNativeAmericanCDFIAssistanceProgram;andtheSmallDollarLoanProgram.Inaddition,theCDFIFundhasallocated66 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and closed guaranteed bonds for more than $1.8 billion through the CDFI Bond Guarantee Program.

Industry

Government Administration

Company size

51-200 employees

Headquarters

Washington, DC

Type

Government Agency

Founded

1994

Locations

Employees at Community Development Financial Institutions Fund (CDFI Fund)

Updates

Financial Assistance Awards aid business creation & growth, new jobs, affordable housing development, & increased financial services for people and communities in need. Awards went to: 176 loan funds; 135 credit unions; 43 depository institutions & holding companies, & 3 venture capital funds. https://lnkd.in/gbCmXwta
TODAY: #CDFIFund awards 357 CDFIs with $408.2 million Financial Assistance (FA) awards— helping low-income and underserved individuals & communities across America. https://lnkd.in/gbCmXwta
The Capital Magnet Fund is looking for your feedback! CMF is requesting public comment on the data and information collection for the Application. Provide your comments here: https://lnkd.in/gtsrbAKJAll comments due by Nov. 25, 2024.
Today, the @USTreasury's #CDFIFund announced $5 billion in New Markets Tax Credits that will drive economic development in low-income urban, rural and Tribal Communities nationwide. https://lnkd.in/dd5i4pxq
The @USTreasury's #CDFIFund is pleased to announce the allocation of $40.1 million in awards to 171 FDIC-insured banks through the FY 2024 Bank Enterprise Award Program. https://lnkd.in/eTnz9jc9
Incredible impact: During 2023, #CDFIFund #BEAProgram applicants increased investments by over 390millionindistressedareas!Thisincludes390 million in distressed areas! This includes 390millionindistressedareas!Thisincludes257M in loans, 78MinCDFIsupport,and78M in CDFI support, and 78MinCDFIsupport,and56M in financial services. Big strides for economic development! https://lnkd.in/ew3YwNh8

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