CDFI Program 2006

The summary for the CDFI Program 2006 Federal Grant is detailed below. It contains information such as the Catalog of Federal Domestic Assistance (CFDA) number, the government agency offering the grant, funding award amounts, and important deadlines. Verify the accuracy of the data FederalGrants.com provides by visiting the webpage noted in the Link to Full Announcement section or by contacting the appropriate person listed in the Grant Announcement Contact section.

Federal Grant Title:	CDFI Program 2006
CFDA Number:	21.020
CFDA Description:	Community Development Financial Institutions Program
Federal Agency Name:	Community Development Financial Institutions
Category of Funding Activity:	Community Development
Category Explanation:	Information not provided
Opportunity Category:	Discretionary
Funding Opportunity Number:	CDFI-FATA-GULF
Document Type:	Modification to Previous Grants Notice
Funding Instrument Type:	Other Grant
Posted Date:	Dec 14, 2005
Creation Date:	Dec 14, 2005
Original Closing Date for Applications:	Feb 23, 2006 Applications for the FY 2006 Funding Round must be received by 5:00 p.m. ET on Monday, February 13, 2006. Please see the Notice of Funds Availability (NOFA) on the CDFI Fund's website for more detailed information.
Current Closing Date for Applications:	Information not provided
Archive Date:	Feb 24, 2006
Expected Number of Awards:	75
Estimated Total Program Funding:	$25,000,000
Federal Grant Award Ceiling:	$2,000,000
Federal Grant Award Floor:	Information not provided
Cost Sharing or Matching Requirement:	Yes

Applicants Eligible for this Grant: Others (see text field entitled "Additional Information on Eligibility" for clarification)
Additional Information on Eligibility: Applicants must be certified as a Community Development Financial Institution (or CDFI) by the CDFI Fund, or be certifiable as a CDFI by the CDFI Fund. Please see the Notice of Funds Availability (NOFA) on the CDFI Fund's website for more detailed information.
Grant Description: The CDFI ProgramThrough the Community Development Financial Institutions (CDFI) Program, the Fund uses federal resources to invest in and build the capacity of CDFIs to serve low-income people and communities lacking adequate access to affordable financial products and services. The Fund provides monetary awards for financial assistance (FA) and technical assistance (TA) through the CDFI Program. CDFIs use FA awards to further goals such as: Economic development (job creation, business development, and commercial real estate development); Affordable housing (housing development and homeownership); and Community development financial services (provision of basic banking services to underserved communities and financial literacy training).Start-up and existing CDFIs use TA grants to build their capacity to serve their Target Market through the acquisition of consulting services, technology purchases, and staff or board training.Financial Assistance Awards:Through FA awards, the Fund invests in CDFIs which demonstrate that they have the financial and managerial capacity to provide affordable and appropriate financial products and services that positively impact their communities, be viable financial institutions; and use and leverage CDFI Fund dollars effectively.FA awards are made in the form of equity investments, loans, deposits, or grants, depending on applicant needs and must be matched, dollar for dollar, by the applicant with funds of the same type from non-federal sources. FA awards enable CDFIs to leverage private capital to respond to demand for affordable financial products and services in economically distressed markets and by low-income families. CDFIs respond to this demand through the provision of loans, investments, training, technical assistance and basic financial services such as checking or savings accounts. Based on data supplied by CDFIs required to report to the Fund, it is estimated that CDFIs leverage their FA awards with other dollars by an average of 20:1.Technical Assistance Awards:Technical Assistance (TA) grants allows CDFIs and entities seeking to become CDFIs to build their capacity by acquiring prescribed types of products or services including technology (usually efficiency enhancing technology such as computers and loan management software), staff training, consulting services to acquire needed skills or services (such as a market analysis or lending policies and procedures), or staff time to conduct discrete, capacity-building activities (such as website development).
Link to Full Grant Announcement: A webpage on the CDFI Fund's website with all the relevant details regarding the CDFI Program
http://www.cdfifund.gov/programs/programs.asp?programID=7
Grant Announcement Contact: IThelpdesk@cdfi.treas.gov IT Help Desk, CDFI Fund
Similar Government Grants: • NACA Program 2009; • CDFI Program 2009; • NACA Program 2008; • CDFI Program 2008; • NACA Program 2007; • CDFI Program - Technical Assistance/Native American Technical Assistance Component; • CDFI Program - NACD (Native American CDFI Development); • FY2005 Round of the Technical Assistance Component; • FY 2005 Financial Assistance Component Funding Round; • CDFI Program 2007