U.S. Dept. of the Treasury, Community Development Financial Institutions Fund
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The Community Development Financial Institutions Fund (CDFI) mission is to increase economic opportunity and promote community development investments for underserved populations and in distressed communities in the United States. The CDFI Fund achieves its purpose by promoting access to capital and local economic growth through directly investing in, supporting and training CDFIs that provide loans, investments, financial services and technical assistance to underserved populations and communities, among others.
Grants
Community Development Financial Institutions Program
Awards grants to qualified nonprofit housing organizations that can be used to finance affordable housing activities as well as related economic development activities and community service facilities. Awardees will be able to utilize financing tools such as loan loss reserves, loan funds, risk-sharing loans, and loan guarantees to produce eligible activities whose aggregate costs are at least ten times the size of the award amount.
Tax Credits
New Market Tax Credits
Established to spur new or increased investments into operating businesses and real estate projects located in low-income communities, NMTCs attract investment capital to low-income communities by permitting individual and corporate investors to receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions called Community Development Entities.
