U.S. Department of Treasury: Native American Community Development Financial Institutions (CDFI) Assistance ProgramDeadline: April 26, 2017
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, equity investments, deposits and credit union shares to enable awardees to build their financial capacity to lend to their Native communities. FA award funds can be expended for activities serving commercial real estate, small business, microenterprise, community facilities, consumer financial products, consumer financial services, commercial financial services, affordable housing, intermediary lending to nonprofits and CDFIs, and other lines of business as deemed appropriate by the CDFI Fund in the following five categories: (i) financial products; (ii) financial services; (iii) loan loss Reserves; (iv) development services; and (v) capital reserves.
- Healthy Food Financing Initiative-Financial Assistance (HFFI-FA) Awards: Awards can only be expended for the same five activities that are eligible for FA awards. Awardees must deploy loans, equity investments, and similar financing activities, including the purchase of loans and the provision of loan guarantees for Healthy Food Retail Outlets (e.g., grocery stores, mobile food retailers, farmers markets) and Healthy Food Non-Retail Outlets (e.g., wholesale food outlets, wholesale cooperatives, entities that produce or distribute healthy foods for eventual retail sale, or entities that provide consumer education regarding healthy food consumption). 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.
- Technical Assistance (TA) grants: Grants may be used to increase the awardees capacity to serve their Native communities and/or create or become certified Native CDFIs and serve Native communities. TA grant funds can be expended for the following seven eligible activity categories: (i) compensation–personnel 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.
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.
Amount: Varies by type of award:
- FA awards: A total of $12,500,000 is available to fund up to 26 awards, ranging from: $150,000-$1,000,000 and averaging $500,000-$600,000
- HFFI-FA awards: A total of $22,000,000 is available to fund up to 10 awards, ranging from $500,000-$$5,000,000 and averaging $2,200,000-$2,400,000
- TA awards: A total of $3,000,000 is available to fund up to 16 awards, ranging from $10,000-$150,000 and averaging $145,000
Note: Funds for the FY 2017 funding round are subject to change based on passage of a final FY 2017 budget; if Congress does not appropriate funds for the NACA Program there will not be a FY 2017 funding round. If funds are appropriated, the amount of such funds may be greater or less than the amounts set forth above.
Eligibility: Refer to the solicitation for specific eligibility requirements per each type of award. A broad overview of eligible applicants is below:
- FA awards: CDFIs that serving Native American, Alaska Native, or Native Hawaiian populations or Native American areas defined as federally-designated reservations, Hawaiian homelands, Alaska Native villages and U.S. Census Bureau-designated Tribal Statistical Areas.
- TA awards: Certified, certifiable, or emerging CDFIs or sponsoring entities that serve Native American, Alaska Native, or Native Hawaiian populations or Native American areas defined as Federally-designated reservations, Hawaiian homelands, Alaska Native villages and U.S. Census Bureau-designated Tribal Statistical Areas.
- In-person CDFI Program and NACA Program application workshops will be held in Washington, DC on February 27, 2017, and March 1, 2017.
- A NACA Program-specific workshop will also be in Las Vegas, Nevada on March 13, 2017.
- A Q&A webinar tailored for NACA Program applicants will be held on March 9, 2017. Advanced registration is required.
- Refer to the following link for specific workshop and webinar details: http://bit.ly/2l7rSRj