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CDFI to provide up to 135 mil in 2011 round
WASHINGTON (10/6/10)--The U.S. Treasury Department Tuesday announced the availability of $135 million in funds through its Community Development Financial Institutions (CDFI) Fund. A total of $25 million of the CDFI Fund awards will be distributed under the Obama administration’s new Healthy Food Financing Initiative (HFFI), according to the release. CDFI Fund Director Donna J. Gambrell in a release said that the CDFI program “continues to be a critical tool for building the capacity of community-based financial institutions serving low-income communities, and the need for their services has never been greater." The CDFI Fund will hold an informational teleconference for interested credit unions. That call is scheduled to take place at 3 p.m. ET on Oct. 18. Applications for the CDFI funds must be received by Nov. 19. Twenty-one credit unions were awarded a combined $12 million in funds during the 2010 round of the CDFI Fund, with nearly one-third of those credit unions receiving $750,000 in funding, the highest amount awarded to any financial institution during that round. The 2010 round of grants totaled $104.9 million in funding for 180 CDFI Fund-eligible institutions, representing the largest combined amount to be awarded since the CDFI Fund program began in 1994. For the CDFI Fund release, use the resource link.
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