CDFI Fund

Funds are available to CDFIs and qualified non-profit organizations. Capital Magnet Fund awardees are able to utilize funds to create financing tools such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees. Applications are due March 16.

The CDFI Fund received 238 applications for New Markets Tax Credit allocations from 43 states, the District of Columbia, Puerto Rico, and Guam. The CDEs requested more than 5 times the available authority of $3.5 billion.

The revised answers to NMTC frequently asked questions add, revise, and update earlier versions from December 2014 and October 2015.

Community Development Entities interested in applying for New Markets Tax Credit allocation authority under the 2015 round have until 5:00 pm EST, on December 16, 2015 to submit their application.

The Community Development Financial Institutions Fund (CDFI Fund) has released New Markets Tax Credit Program (NMTC Program) eligibility data for 2010 census tracts in the Island Areas of the United States (American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands).

The CDFI Fund announced more than $3.5 billion in New Markets Tax Credit awards aimed at stimulating investment and economic growth in low-income urban neighborhoods and rural communities nationwide. Thirteen NH&RA members were among the 76 organizations across the country that will receive tax credit allocation authority under the 2014 round of the New Markets Tax Credit Program.

The Community Development Financial Institutions Fund will implement a new enterprise-wide Awards Management Information System (AMIS). Beginning August 2015 through the fall of 2016, the CDFI Fund will transition from using the myCDFIFund Portal to using AMIS to track organization and application information.