The Treasury Department's Community Development Financial Institutions Fund has announced that it is accepting applications for it 2010 grants.
While still dependent on final appropriations, the fund expects it will have roughly $133 million available.
"I am delighted to celebrate the CDFI Fund's 15th Anniversary by announcing what will be the largest-ever annually appropriated funding round of our cornerstone CDFI Program," said CDFI Fund Director Donna Gambrell. "We have had 15 successful years of promoting economic development in underserved communities by working together to build a nationwide network of CDFIs. With the Obama Administration's strong commitment to community development I am honored to be at the CDFI Fund's helm during this historic moment, and as director I seek to position the CDFI Fund for 15 more years of great success."
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The Fund expects to use approximately $20 million for applicants to its small and emerging CDFI assistance (SECA) program and $90 million for so-called core applicants with $3 million planned for technical assistance grants, according to the CDFI Coalition, a trade organization of CDFIs.
"While applicants are permitted to apply without submitting matching funds documentation, the fund encourages applicants to do so, in the event that the FY 2010 appropriations language does not waive the matching funds requirements," the Coalition advised.
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