On September 19, the Community Development Financial Institutions Fund (CDFI Fund) awarded $208.7 million in grants and loans to more than 300 community development financial institutions (CDFIs) through its fiscal year (FY) 2017 rounds of the CDFI Program and NACA Program, the largest single announcement of award dollars and award recipients in the CDFI Fund’s history.

Through the CDFI Program, the CDFI Fund awarded $193.1 million in Financial Assistance (FA), Technical Assistance (TA), and Healthy Food Financing Initiative Financial Assistance (HFFI-FA) awards to 278 organizations. An additional $15.6 million in FA and TA was awarded to 38 organizations through the NACA Program. This funding provides much-needed capital to CDFIs that will allow them to deepen their reach into underserved communities, financing more businesses, building more homes and creating more jobs.

OFN congratulates all recipients, especially our Members and Allies. Through the CDFI Program, 110 OFN Members received $109.1 million and 14 OFN Allies received $5.5 million, more than half of the total dollar amount awarded. Additionally, 10 OFN Members received $6.3 million and 3 OFN Allies received $815,500 through the NACA Program. The success of our Members in this funding round demonstrates our network’s proven ability to deploy capital in urban, rural and Native communities across the country.

To learn more about the awards, click on the links below:  

CDFI Program & NACA Program Awards

FY17 Awards Total Amount Amount Received by OFN Members Total Percent Received by OFN Members
FA/TA $171.1MM $87.1MM 50.9%
HFFI-FA $22MM $22MM 100%
NACA $15.6MM $6.3MM 40.4%
Total $208.7MM $115.4MM 55.3%
 

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