WASHINGTON (5/9/13)--Three times as many funds were requested this year through the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) as were available to grant.
For Fiscal Year 2013, CDFI program applicants requested a total of $410.8 million, which was a $15 million jump over last year's requests of nearly $395.7 million. Financial assistance (FA) applicants requested $402.2 million and technical assistance (TA) applicants requested nearly $8.6 million, according to a Treasury release.
The CDFI Fund received 401 applications for this funding round. The 309 applications for FA came from 43 states plus the District of Columbia and Puerto Rico; and the 92 TA applicants came from 30 states plus the District of Columbia and Puerto Rico.
The deadline for CDFI Program applications was February 28. The awards are expected to be announced in the fall.
For more, use the resource link for the CDFI Fund's release.