The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) will pause acceptance of new CDFI Certification Applications and requests for Target Market modifications for a period of six months beginning on Oct. 1, 2022. The CDFI Fund will resume accepting new CDFI Certification Application submissions and requests for Target Market modifications on April 3, 2023. The new CDFI Certification Application will be in effect at this time for those organizations applying for CDFI Certification. Existing CDFIs will have a one-year grace period to comply with the new CDFI Certification criteria.
During the blackout period, CDFIs will be required to be in a state of good standing with respect to their Certification status. To facilitate this process, the CDFI Fund will review all currently pending CDFI Certification Applications and Target Market modification requests (as well as all new applications and Target Market modification requests) submitted before Oct. 1, 2022, by April 3, 2023. Organizations either in the process of applying for CDFI Certification or that intend to do so in the near future will have until 11:59 p.m. ET on Sept. 30, 2022 to submit CDFI Certification Applications or Target Market Modification Applications through the CDFI Fund’s Awards Management Information System (AMIS).
