WASHINGTON — The U.S. Treasury's Community Development Financial Institutions Fund is almost ready to release the procedures for accessing some of the $100 million that Congress appropriated for the fund as part of the economic stimulus package.
Donna Gambrell, director of the CDFI Fund, told CDFI leaders attending a meeting of the CDFI Institute that the fund was getting close to releasing the procedures that organizations will have to use to apply for funds.
"I don't have anything big to announce at this luncheon," Gambrell told the meeting, "because we are still meeting daily with people from main Treasury and the [Office of Management and Budget] to tweak a few last issues, but I can assure you all that Treasury and OMB want this money out the door quickly."
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The CDFI Institute is an annual gathering of the CDFI Coalition, an industry association of CDFIs, including some credit unions.
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