Key Dates:  Applications Due: May 27, 2009; 5 p.m. EST

Applicants must be Certified or Certifiable Community Development Financial Institutions (CDFIs) as of March 18, 2009.  A "Certification of Material Event Form" must be submitted to the CDFI Fund by 5 p.m. EST on May 15, 2009.

Program Information:  CDFI Fund helps promote access to capital and local economic growth in urban and rural low-income communities across the nation. Through its various programs, the CDFI Fund enables locally based organizations to further goals such as: economic development, including job creation, business development, and commercial real estate development; affordable housing; and community development financial services, including provision of basic banking services to underserved communities and financial literacy training.

Grant Information:  The Recovery Act doubles the funding for the CDFI, to increase the capital, credit and financial services they provide in economically distressed communites. Community-based lenders will deploy resources to support homeowners and businesses. The legislation appropriates an additional $100 million, of which $90 million will apply to the CDFI Program, $8 million to the Native Initiatives, and $2 million to administrative expenses.

For More Information:  View the full  Funding Opportunity Announcement  for program and application information.