Community Development Financial Institutions Program (21.020)
Community Development Financial Institutions Program (Assistance Listing 21.020) is run by the Community Development Financial Institutions Fund, part of the Department of the Treasury. It awarded $807 million in 1,482 grants from fiscal 2021 to 2025, about $544,792 per award on average. No funding opportunity is open on Grants.gov right now.
The typical award was $433,000. Half of the 1,482 awards fell between $125,000 and $705,633, and they ranged from $14,608 to $6.0 million.
- Awarded, FY 2021 to 2025$807 million
- Grant awards1,482
- Typical award$433,000
- Awarded in FY 2025$72.2 million
- Size rank282 of 1,823
- Type of assistanceProject grants
Key findings
- Annual funding rose from $21.2 million in fiscal 2021 to $72.2 million in fiscal 2025.
- It is the 282nd largest of 1,823 federal grant programs by five-year awards.
- The 20 largest recipients received 19% of the money.
- Awards went to recipients in 50 states and territories.
What the program funds
To promote economic revitalization and community development through investment in and assistance to certified and emerging Community Development Financial Institutions (CDFIs).
Open opportunities
No opportunity under this program is open or forecast on Grants.gov right now. Programs often post once a year, so the funding history below shows what to expect.
Past notices
Of 4 notices posted under this program since 2021, most went up in February (2), January (1) and December (1).
Rules from the program listing
Who can apply
Only certified CDFIs are eligible to apply for Financial Assistance awards. Certified CDFIs and entities seeking to become certified CDFIs may apply for Technical Assistance awards. No awards may be issued to federal government agencies, departments or instrumentalities, state governments, local governments or any agency or instrumentality thereof.
What the money can and cannot pay for
FA awards enhance the Recipient's ability to provide financial products and services that promote economic revitalization and community development. CDFI Program FA awards must 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. Note: Only Regulated Institutions may use an FA award for Financial Services and Capital Reserves. The form of the FA award is based on the form of matching funds that the applicant includes in the application, if applicable. If an applicant includes all or a portion of its matching funds in the form of a loan, all or a portion of the FA award will be in the form of a loan commensurate with the amount of the matching funds in the form of a loan, unless the matching funds requirement is waived by Congress. TA awards build the Recipient's organizational capacity. CDFI Program TA awards must be expended for activities in the following seven categories: (i) Compensation – Personal Services; (ii) Compensation – fringe benefits; (iii) Professional Services Costs; (iv) Travel Costs; (v) Training and Education Costs; (vi) Equipment; and (vii) Supplies. Each Recipient enters into an assistance agreement that requires it to achieve performance goals and abide by other terms and conditions.;
Matching requirements
This program has no statutory formula. Unless waived by Congress, CDFI Program applicants are required to match FA awards dollar-for-dollar with non-federal funds of the same type as the award itself. The Indian Community Economic Enhancement Act of 2020 (Pub. L. 116– 261) permanently waived the Matching Funds requirement for Native American CDFIs, and as a result, Native American CDFI applicants are not required to provide Matching Funds. Matching requirements are mandatory.MOE requirements are not applicable to this assistance listing.
Award range and average, in the agency's words
Funds for the FY 2024 Funding Round are a combination of appropriations from FY 2023 and FY 2024. Therefore, no funds were awarded in in FY 2023. In FY2024, there were only Financial Assistance awards obligated and no Technical Assistance awards were obligated. FY 2024 Funding Round Technical Assistance awards will be obligated in FY 2025. The range of Financial Assistance (FA) awards for FY 2024 was from $125,000 to $2,735,000, not including HFFI Awards. For FY 2024 the average Financial Assistance awards (Base-FA) for Category I: Small and/or Emerging CDFI Assistance (SECA) was $497,045, and the average Financial Assistance Awards (Base-FA) for Category II/Core was $838,983, which does not include Persistent Poverty Counties-FA (PPC-FA), Disability Funds-FA (DF-FA), or Healthy Food Financing Initiative-FA (HFFI-FA) awards. The range of PPC-FA awards for FY 2024 were from $100,000 to $485,000. The FY 2024 average PPC-FA award was $296,331. For FY 2024, the range of DF-FA awards was from $450,000 to $1,000,000. The average DF-FA award for FY 2024 was $925,000. The range of HFFI-FA awards for FY 2024 was from $750,000 to $6,000,000. The average HFFI-FA award for FY 2024 was $3,200,000.
Examples of funded projects
Fiscal Year2017: Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.Fiscal Year2018: Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.Fiscal Year2019: Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.Fiscal Year2020: Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.Fiscal Year2021: Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.Fiscal Year2022: Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.Fiscal Year2024: Visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/programs-training/Programs/cdfi-program.
Funding history and past recipients
From fiscal 2021 to 2025, Community Development Financial Institutions Program (21.020) awarded $807 million across 1,482 grant awards, an average of $544,792 per award.
Who usually wins
Nonprofits received 71% of the money, businesses 15% and tribes 0.4%.
| Recipient type | Awards | Amount | Share |
|---|---|---|---|
| Nonprofits | 996 | $575 million | 71% |
| Businesses | 168 | $124 million | 15% |
| Other | 299 | $101 million | 13% |
| Tribal governments and organizations | 5 | $3.3 million | 0.4% |
| Colleges and universities | 3 | $2.3 million | 0.3% |
| Small businesses | 6 | $1.2 million | 0.1% |
| State and local governments | 5 | $1.2 million | 0.1% |
By state
47 states have a page for this program: those that received at least $1 million or 10 awards.
| State | Awards | Amount |
|---|---|---|
| New York | 112 | $77.1 million |
| California | 127 | $67.8 million |
| Mississippi | 51 | $45.5 million |
| Puerto Rico | 152 | $44.7 million |
| Pennsylvania | 51 | $44.6 million |
| Louisiana | 65 | $36.8 million |
| Virginia | 36 | $33.8 million |
| Ohio | 61 | $33.0 million |
| Missouri | 30 | $31.7 million |
| Texas | 73 | $30.1 million |
| Massachusetts | 33 | $26.0 million |
| Florida | 48 | $23.8 million |
| Minnesota | 41 | $23.6 million |
| Georgia | 36 | $19.6 million |
| Arkansas | 31 | $17.9 million |
| Washington | 25 | $16.3 million |
| Alabama | 32 | $15.6 million |
| Maryland | 25 | $15.3 million |
| Michigan | 37 | $15.2 million |
| North Carolina | 29 | $12.4 million |
| South Carolina | 24 | $12.3 million |
| Wisconsin | 22 | $12.0 million |
| District of Columbia | 21 | $11.7 million |
| Colorado | 23 | $11.4 million |
| Tennessee | 26 | $11.4 million |
| Illinois | 30 | $11.1 million |
| Kentucky | 16 | $10.7 million |
| Indiana | 25 | $9.4 million |
| Oregon | 20 | $8.4 million |
| Maine | 12 | $7.7 million |
| Arizona | 18 | $7.6 million |
| Montana | 14 | $6.8 million |
| Oklahoma | 16 | $6.0 million |
| Nebraska | 13 | $5.9 million |
| Connecticut | 13 | $5.8 million |
| New Jersey | 13 | $5.5 million |
| Hawaii | 13 | $4.9 million |
| New Mexico | 12 | $4.7 million |
| Iowa | 9 | $3.8 million |
| New Hampshire | 5 | $3.8 million |
| South Dakota | 7 | $3.7 million |
| West Virginia | 7 | $3.3 million |
| Delaware | 7 | $2.3 million |
| Vermont | 5 | $1.7 million |
| Idaho | 5 | $1.6 million |
| Utah | 6 | $1.5 million |
| Rhode Island | 2 | $1.1 million |
| U.S. Virgin Islands | 1 | $300,000 |
| Nevada | 1 | $150,000 |
| North Dakota | 1 | $125,000 |