U.S. Department of the Treasury: Native American Community Development Financial Institutions (CDFI) Assistance ProgramDeadline: November 24, 2014
The Native American CDFI Assistance (NACA) program provides funding to build the community development capacity of Certified Native CDFIs, Emerging Native CDFIs, and Sponsoring Entities, and to increase access to capital in Native Communities. Funding is offered in three categories:
- Financial Assistance (FA) awards: Awards are made in the form of loans, grants, deposits, and equity investments to support Certified Native CDFI financing activities. FA awards can be expended for activities in the following five categories: (i) Financial Products; (ii) Financial Services; (iii) Loan Loss Reserves; (iv) Development Services; and (v) Capital Reserves.
- Technical Assistance (TA) grants: Grants may be used to increase the awardees capacity to serve Native Communities and/or create or become certified Native CDFIs. TA grants can be expended for the following seven eligible activity categories: (i) Compensation – personal services; (ii) Compensation – fringe benefits; (iii) Professional Service Costs; (iv) Travel Costs; (v) Training and Education Costs; (vi) Equipment and Other Capital Expenditures; and (vii) Supplies.
- Healthy Food Financing Initiative – Financial Assistance (HFFI-FA) Awards: CDFIs may apply for funding to expand their lending activity and other investments in healthy food business enterprises in underserved areas as grocery stores, mobile food retailers, farmers markets, cooperatives, corner stores, and bodegas. HFFI-FA awards will be provided as a supplement to FA awards; therefore, only those applicants that have been selected to receive an FA award will be eligible to receive an HFFI-FA award. HFFI-FA awards can be in the form of loans, grants, equity investments, deposits, and credit union shares. HFFI-FA awards can be expended for the same five activities that are eligible for FA awards.
Amount: Total: $15,000,000; Total FA awards: $12,000,000; Total TA awards: $3,000,000; Total HFFI-FA: $35,000,000; FA award range: $100,000-$1,000,000; TA grant range: $10,000-$150,000; HFFI-FA award range: $500,000-$5,000,000.
Note that the form of FA and HFFI-FA awards is based on the form of the matching funds that the applicant includes in its application. Matching funds are required for FA and HFFI-FA awards, must be from non-Federal sources, and cannot have been used as matching funds for any other federal award.
Eligibility: To be eligible for an FA award, organizations must be either a certified Native CDFI or be able to be certified by the Fund at the time of application. Organizations that are Emerging Native CDFIs or Sponsoring Entities may only apply for TA grants.
Note: An in-person CDFI and NACA Program Application Workshop will be held in Washington DC on October 2, 2014. The CDFI Fund will provide pre-recorded webinars for applicants on its website in the near future. Additionally, the Fund is conducting three targeted live webcasts to provide a forum to answer applicant questions about NACA program applications as follows:
NACA Program Applicants: Regulated and Unregulated Entities: October 7, 2014 from 2:00-3:00 MST
Matching Funds (CDFI & NACA Programs All Applicant Types): November 4, 2014 from 11:00 am-12:00 p.m. MST
Make-Up Session (CDFI & NACA Programs, All Applicant Types): November 4, 2014 from 12:30-2:00 p.m. MST.