Clean Communities Investment Accelerator (CCIA) is a $6 billion grant program administered by the EPA for national nonprofit “hubs” to deliver financial resources and technical assistance to build the climate lending capacity of community lenders working in low-income and disadvantaged communities.

More than 90% of the CCIA funding will pass through the nonprofit awardees (hubs) to community lenders as capitalization and technical assistance subaward funding (see more below).

The awarded nonprofits will provide resources and services to the community lending industry and manage the program in coordination with the EPA over the six-year performance period.

Helpful Terminology

OFN is an awardee of the CCIA program. Awardees may also be referred to as “grantees” or “pass-through entities.” Organizations that receive funding from a grantee or pass-through entity are considered “subrecipients.”

Four other organizations also received CCIA awards. These are Green Bank for Rural America, a subsidiary of Appalachian Community Capital; Justice Climate Fund; Inclusiv; and Native CDFI Network. Please visit their respective websites to learn more.

To be eligible to receive CCIA funding from OFN, your organization must:

1) Be an OFN member in good standing (dues paid, annual member survey [AMS] completed) and

2) Be a community lender according to the EPA’s definition: All certified CDFIs, non-profit and for-profit, are considered community lenders.

• For non-certified CDFIs to be considered a community lender, an organization must meet the following three (3) requirements:
  • Be either a public, quasi-public, not-for-profit, or nonprofit entity.
  • Have the legal authority to provide financial assistance to qualified projects at the state, local, territorial, or Tribal level or in the District of Columbia.
  • Be eligible to receive a subaward under the EPA’s policy.

3) Be ready to deploy clean energy financing. This means organizations must have all of the following*:

• an existing climate financing strategy,
• a pipeline of loans in the CCIA-eligible project categories or a track record of climate-related financing
• the ability to track loans by funding sources
• the ability to track loan-level impact and performance data.

*Organizations that don’t yet meet these requirements can apply for OFN’s Nascent Climate Lending Training Program to increase their readiness and become eligible for funding.

OFN will conduct an eligibility evaluation of all funding applicants.

Funding is available to eligible OFN members in the form of capitalization funding and technical assistance funding.

Capitalization funding.  Capitalization funding is in the form of a restricted grant. Capitalization funding must be used to provide financial assistance to CCIA-eligible projects.

Award maximum: $10 million in total capitalization funding per organization from all CCIA grantees. OFN may approve certain exception subawards above $10 million in the future.

Capitalization Funding may be used to provide the following types of financial assistance:

• Debt, such as loans, partially forgivable loans, forgivable loans, zero-interest and below-market interest loans, loans paired with interest rate buydowns, secured and unsecured loans, lines of credit, subordinated debt, warehouse lending, loan purchasing programs, and other debt instruments.
• Hybrids, such as mezzanine debt, preferred equity, and other hybrid instruments
• Credit enhancements, such as loan guarantees, loan guarantee funds, loan loss reserves, and other credit enhancement instruments.

*OFN will not allow equity as a form of financial assistance.

Technical Assistance funding. Technical assistance subaward funding is available for capacity building to equip OFN members to provide financial assistance to CCIA-eligible projects. OFN will provide these subawards in the form of subgrants.

Award maximum: $1 million in total technical assistance subawards per organization from all CCIA grantees. Technical assistance activities include, but are not limited to:

• Procuring training, market analysis, and technical support
• Hiring staff
• Developing new financial products
• Supporting pre-development activities, such as site and building assessments (e.g., energy audits), financial and technological feasibility studies (e.g., solar resource studies), design and engineering support, and permitting support.

OFN members must be selected for capitalization funding to receive a technical assistance subaward. OFN will provide other resources to help mission-driven community lenders find a path to access CCIA funding.

Funding from OFN to subrecipients is in the form of grants for capitalization and technical assistance. Subrecipients will then use the funding to provide financial assistance to borrowers, which can be in the form of debt, hybrids or credit enhancements.  

Please see the question, “What type and amounts of funding are available” for more details.   

The loans must meet the requirements of “financial assistance,” which are described “What type and amounts of funding are available.” There are no further loan term requirements. 

The $10 million in Capitalization Funding and $1 million in TA subaward funding apply at the organization level, which includes affiliates and subsidiaries. For more information, please see the question, “What is the definition of affiliates and subsidiaries?” 

Funding from CCIA may only be used for eligible projects, activities, and technologies (“projects”) in three categories: distributed generation and storage, net-zero emissions buildings, and zero-emissions transportation. To learn more about the criteria for eligible projects, please review OFN’s Project Eligibility Summary.  

If you’re ready to dive into details about project eligibility, please review OFN’s Project Eligibility Tool.  

Each CCIA awardee, including OFN, will define its application process, timeline, and requirements. OFN is launching a pilot round of funding on October 10, 2024. The purpose of the pilot is to allow OFN to test and learn and ensure a good user experience for its full and open funding round. OFN will launch the full round in early 2025. OFN members and other mission-driven community lenders can begin preparing for the funding opportunity now.

This is a six-year program, and there will be multiple funding rounds. OFN expects applicants to apply for multiple funding rounds as their climate lending capacity increases, up to the maximum award size.

The communities served by mission-driven community lenders are the ones most impacted by the effects of climate change.

In 2023, OFN issued a call to action that all CDFIs provide climate loans to mitigate the impact of climate change and help their communities become more resilient.

OFN’s CCIA program is designed to build a pathway to climate lending for all mission-driven community lenders, no matter where you are on your climate lending journey. OFN offers capital and capacity-building resources (and will develop more resources over the course of the program) for mission lenders seeking to begin or expand climate lending programs.

Yes. OFN will provide capacity-building support to help OFN members and other mission-driven community lenders find a path to access CCIA program funding for distributed energy generation and storage, net-zero emissions buildings, and zero-emissions transportation projects.

The suite of services will include our Nascent Climate Lender Training Program and a climate help desk that will offer strategy-level and project-level assistance. Members, industry practitioners, and partners can always access climate lending resources in our resource library and learn from other practitioners on CDFI Connect.

Organizations can prepare to apply in several ways:

• Get familiar with the program by watching our CCIA 101 webinar and CCIA Launch Plan Webinar.
• Get familiar with CCIA eligible projects by reviewing the Project Eligibility Tool.
• Begin to build a pipeline of CCIA eligible projects.
• Ensure your organization’s processes are 2 CFR 200
• Register on SAM.gov and confirm your registration is up to date
• Understand single audit requirements.
• Begin developing a strategy and plan to support your subaward application that includes the following:
  • A plan for the use of capitalization funding that aligns with the CCIA program objectives
  • A plan and budget for the use of technical assistance subaward funding to support the deployment of capitalization funding
  • Details on how your plan will deliver broader co-benefits and positive outcomes, such as:
    • Creation of high-quality jobs with a diverse, skilled workforce
    • Consumer protection across all entities that interact, transact, or contract with a consumer
    • Maintaining the affordability of existing housing stock, minimizing displacement, and preventing rapid cost increases.
• Sign up for an upcoming OFN climate lending training
• Join the Climate Mitigation and Adaptation Community on CDFI Connect.

Carbon emissions, clean energy, and climate change may not resonate with your communities, but there are related messages that may convince community members to act. For example:

• Reduced costs: Energy efficiency upgrades, solar installations, and battery storage may reduce utility costs for homeowners and businesses.
• Resiliency against extreme weather impacts: Upgrades have the added benefit of providing resiliency against weather-related power outages.
• Healthier communities: Choosing clean energy solutions, like electric vehicles and stoves, reduces air pollution in our homes, neighborhoods, and near our roadways.
• Good jobs: Clean and renewable energy projects bring many good quality jobs to your community, which may attract additional investment.

OFN will provide marketing and messaging materials to help OFN members and other mission lenders reach diverse audiences with climate lending products.

Individuals, businesses, or organizations that are not community lenders cannot apply directly for CCIA funding from OFN. However, they may be able to access CCIA funding through OFN members that receive CCIA funds. These members can finance CCIA-eligible projects in their communities.

Contact your local CDFI to learn if they plan to participate in this program.

If you’re interested in partnering with OFN on the historic CCIA program, please fill out this partner interest form. If you are looking for open positions or procurement opportunities, please visit our Work with OFN page.

In August 2024, the EPA obligated funds to all GGRF grantees, including OFN. We do not anticipate changes to the awards based on the outcome of the 2024 election.  

CCIA awardees are collaborating to ensure community lenders receive the support they need. Participation in OFN’s CCIA program is open to organizations that are OFN members and that meet CCIA program eligibility requirements. However, depending on your organization type, other CCIA awardees’ programs might be a better fit. Based on your organization type, we encourage you to reach out to the listed awardee below first:

• Rural/Appalachian Loan Funds: Loan funds who will exclusively serve rural areas and/or Appalachia, please coordinate with Green Bank for Rural America, a subsidiary of Appalachian Community Capital. OFN will work in partnership with Green Bank for Rural America to support rural/Appalachian focused loan funds that are not supported by Green Bank for Rural America.

• Native CDFIs: If you are a Native CDFI, please coordinate with the Native CDFI Network (NCN). If NCN is unable to support your request, NCN will support you in identifying another CCIA awardee (including OFN). OFN will work in partnership with NCN to support Native CDFI loan funds that are not supported by NCN.

• CDFI/MDI Banks: If you are a community development bank or minority depository institution, please coordinate with the Justice Climate Fund.

• Credit unions: If you are a community development credit union, please coordinate with Inclusiv.

Yes, organizations can apply to become members of OFN and, if they meet the eligibility requirements, apply for the CCIA Program. Organizations may apply for membership at any time; however, there may be cut-off dates for specific funding rounds (for example – for the Pilot Round, organizations must be members of OFN on September 30, 2024.)

The membership application process typically takes 1-2 months for review and approval. Becoming a member does not guarantee funding, but it allows your organization to apply for the program.

Apply to become an OFN member here: Join OFN.

No, organizations do not need to be certified CDFIs to become OFN members. To become an OFN member, an organization must have a primary mission of community development and strive to have a positive impact on low-income, low-wealth, and other underserved people and communities. Please review our other membership requirements here.

OFN members who are not-for-profit organizations do not need to be CDFI-certified. However, for-profit members do need to be certified CDFIs. Please review the other eligibility criteria in the question, “Who can access the funding?”

No, there is no minimum asset size required to apply for funding or training from OFN’s CCIA program. OFN has designed its CCIA program for all members, ranging from under $25 million to the largest CDFIs.

Please refer to OFN’s Project Eligibility Tool. The Definitions and Examples tabs provide detailed definitions and examples for each priority project category.

CCIA funds must be used to support projects in LIDACs. The EPA’s definition includes the categories below. As long as at least one of these criteria is met, the project qualifies as a LIDAC project.

• Climate and Economic Justice Screening Tool (CEJST)-identified disadvantaged communities
• EJScreen– identified disadvantaged communities
• Geographically dispersed low-income households: low-income individuals and households that fall within either of the two categories listed below:
  • Individuals and households with incomes at or below the greater of:
    • For Metropolitan Areas: 80% Area Median Income (AMI) or 200% of the Federal Poverty Level
    • For Non-Metropolitan Areas: 80% AMI; 80% Statewide Non-Metropolitan Area AMI; or 200% of the Federal Poverty Level
  • Individuals and households currently approved for assistance from or participation in at least one of the following income-based or income-verified federal assistance programs, with an award letter within the last 12 months:
    • U.S. Department of Health and Human Services (HHS) Low Income Home Energy Assistance Program;
    • U.S. Department of Agriculture’s (USDA) Supplemental Nutrition Assistance Program;
    • U.S. Department of Energy’s (DOE) Weatherization Assistance Program;
    • Federal Communications Commission’s Lifeline Support for Affordable Communications;
    • USDA’s National School Lunch Program;
    • U.S. Social Security Administration’s Supplemental Security Income; or
    • Any other verified government or non-profit program serving Asset Limited, Income Constrained, Employed (ALICE) individuals or households designated by the EPA Administrator
• Properties providing affordable housing: includes properties serving low-income individuals and households that fall within either of the two categories listed below.
  • Multifamily housing with rents ≤ 30% of 80% AMI for at least half of residential units and with an active affordability covenant from one of the following federal or state housing assistance programs:
    • Low-Income Housing Tax Credit
    • A housing assistance program administered by the U.S. Department of Housing and Urban Development (HUD), including Public Housing, Section 8 Project-Based Rental Assistance, Section 202 Housing for the Elderly, Section 811 Housing for Disabled, Housing Trust Fund, Home Investment Partnership Program Affordable Rental and Homeowner Units, Permanent Supportive Housing, and other programs focused on the goal of ending homelessness funded under HUD’s Continuum of Care Program;
    • A housing assistance program administered by USDA under Title V of the Housing Act of 1949, including under Sections 514 and 515;
    • A housing assistance program administered by a tribally designated housing entity, as defined in Section 4(22) of the Native American Housing Assistance and Self-Determination Act of 1996 (25 USC § 4103(22)); or
    • Any other housing assistance program designated by the EPA Administrator (not currently applicable)
  • Naturally occurring (unsubsidized) affordable housing with rents not exceeding 30% of 80% AMI for at least half of residential units
• Federally Recognized Tribal Entities: includes
  • Individual member(s) of a Federally Recognized Tribe
  • For-profit business that has at least 51%of its equity ownership (or the equivalent in limited liability companies) by members of Federally Recognized Tribes
  • Non-profit entity with at least 51% of its Board of Directors (i.e., Governing Board) comprised of members of Federally Recognized Tribes; or
  • Federally Recognized Tribal government entity.
  • Under this definition, any Federally Recognized Tribal Entity is included within the definition of Low-Income and Disadvantaged Communities, regardless of where that entity is located (i.e., the entity may be located in areas outside of the CEJST land area dataset, including but not limited to tribal service areas or counties).

Commercial technology is defined as technologies that have been deployed for commercial purposes at least three times for a period of at least five years each in the United States for the same general purpose as the project, activity, or technology.

The “commercial technology” requirement in the definition of qualified projects applies to classes of technologies (e.g., heat pump) rather than an individual equipment manufacturer (e.g., a specific brand/model of heat pump). For example, financing heat pumps for heating and cooling would meet the commercial technology requirement because heat pumps have been deployed for commercial purposes at least three times for a period of at least five years each in the United States for the same general purpose (heating and cooling). A new heat pump brand or model would therefore meet the “commercial technology” requirement, even if it is a new original equipment manufacturer product.

Private capital is mobilized when it is invested in a CCIA eligible project. All CCIA eligible projects require a source of private capital. To be considered a CCIA-eligible project, a project must include at least $1 of private capital at the time of closing.

For OFN’s CCIA Program, private capital is any non-public source or form of capital. This includes all capital except capital from federal, Tribal, state, territorial, and local government entities.

Sources of private capital in projects include, but are not limited to:

• Tax equity contributions,
• Tax credit transfers,
• Sponsor or borrower equity contributions,
• Subsidies and incentives from utilities (including renewable energy certificates) and other non-government entities, and
• Other debt capital blended into the transaction from the community lender and other private lenders.

Any CCIA or other Greenhouse Gas Reduction Fund (GGRF) funding source—whether directly or through a third-party lender—is not considered private capital but can be included in the project financing. GGRF funding sources include CCIA, National Clean Investment Fund, and Solar for All.

Please see OFN’s Private Capital Mobilization Overview for more information.

No, the entire revolving loan fund would not be excluded. Federal funds do not count towards private capital mobilization, but the non-public sources of funding (e.g. funding from commercial banks) do count. A subrecipient of CCIA funding would therefore need to provide a methodology for pro-rating the funds which are from private sources and which are used to support a CCIA-eligible project.   

Yes, community lenders can and should seek to stack CCIA funding with other sources, such as tax credits, utility incentives, and other private and public capital.

OFN members that secure CCIA subawards from OFN will have requirements to meet specific private capital mobilization (PCM) targets. OFN will provide more guidance on private capital mobilization and how community lenders can achieve the targets. Members are encouraged to evaluate their existing or planned public funding sources to check for any restrictions on combining those funds with CCIA dollars.

In general, for a new construction project, leverage is calculated based on the entire project cost because the entire project is considered to be CCIA-eligible. Please refer to example #3 in OFN’s Private Capital Mobilization Overview for more information.  

In contrast, for a rehab project, where the CCIA-eligible work is minimal, only the costs related to that work (which includes enabling infrastructure) would be counted towards leverage. Please refer to example #4 in OFN’s Private Capital Mobilization Overview for more information. 

Yes, OFN expects applicants to apply for funding in multiple rounds until they reach the maximum award size. For example, if you are a less experienced lender and only receive $2 million in Capitalization Funding in one round, you may return and apply for more funding in another round. Our program is designed to enable lenders to increase their climate lending capacity through ongoing training, access to resources, and additional experience gained deploying their awards. This means that a lender may increase its climate lending readiness over time and, therefore, is encouraged to apply for a larger award size in a future round.

Subrecipients need to comply with significant reporting requirements and federal regulations.

Reporting is required semiannually and annually and includes specific technical information, including transaction-level details.

Subrecipients must comply with 2 CFR 200 and be subject to single audit requirements if more than $750,000 in federal funds are expended annually.

Because this is a grant program, with limited exceptions, we do not anticipate having traditional lender financial covenants. OFN will require a subrecipient to maintain a minimum level of financial strength and we will monitor this through reporting requirements. We anticipate requiring subrecipients to submit their annual financial audit reports and will provide additional guidance on these requirements.   

No, subrecipients will need to report on projected GHG emissions reductions. OFN will provide further guidance on methodologies and reporting tools.

Yes, subrecipients of CCIA funding will need to follow federal procurement guidelines for the deployment of their Technical Assistance subawards and for their Capitalization Funding subawards in the case of loan purchases (i.e., acquisitions of intangible property). OFN intends to provide additional guidance and resources to subrecipients to help them understand federal procurement rules.

As applicable, subrecipients will need to comply with the requirements listed below. OFN will assist subrecipients with guidance on understanding and managing the requirements.

• Davis-Bacon and Related Acts (DBRA): DBRA labor standards apply to construction projects funded by CCIA. However, the timing and purpose of the CCIA funding can impact whether DBRA requirements are triggered. OFN will provide more guidance as soon as it becomes available from the EPA.
  • DBRA requires contractors and subcontractors to pay employed laborers and mechanics no less than locally prevailing wages. DBRA applies to contractors and subcontractors performing construction, alteration, or repair of buildings in excess of $2,000. Activities such as the installation of solar panels, installation of heat pumps, and retrofits of buildings for energy efficiency are considered construction projects. DBRA does not apply to pre-construction activities, such as environmental assessments, site acquisition, permitting, and engineering and design.
• Build America Buy America (BABA): BABA establishes a domestic procurement preference for all federal financial assistance. BABA requires that all iron, steel, manufactured products, and construction materials used in projects be produced in the U.S. BABA does not apply to projects involving private homes.
• National Historic Preservation Act (if applicable): This act establishes permanent institutions and creates a clearly defined process for historic preservation in the U.S. Section 106 of this act requires federal agencies to take into account the effects of their undertakings on historic properties and to provide the Advisory Council on Historic Preservation a reasonable opportunity to comment on such undertakings. Projects impacting buildings on the National Register of Historic Places that are eligible for listing will be subject to more extensive National Historic Preservation Act reviews to be an eligible use of CCIA funding.
• Endangered Species Act (if applicable): CCIA-funded activities must not be likely to jeopardize the existence of any listed endangered species, adversely modify designated critical habitats, or incidentally injure or kill endangered animals without authorization from the US Fish and Wildlife Service or National Marine Fisheries Service.
• Coastal Zone Management Act (if applicable): CCIA-funded activities in coastal areas must be consistent with state coastal zone management plans that have been approved by the Department of Commerce.

Yes. All subrecipients that receive Capitalization Funding subawards will earn program income and must retain and reuse program income for additional capital deployment to CCIA-eligible projects. Program income includes but is not limited to income from origination fees, interest payments, principal repayments, dividends, and interest from short-term securities (e.g., cash deposits). Subrecipients must be prepared to track, document, and report on program income to comply with federal requirements.

Yes, subrecipients will be allowed to deduct the cost of generating program income, provided that the costs are reasonable and necessary for performance under the award. Examples of these costs include origination, servicing, and management costs that are not charged as direct costs to the award.  

Costs of generating program income can be incurred in advance of receiving the gross income. The subrecipient can incur the costs and later use gross income to reimburse itself. for no more than the actual costs incurred.  

Subrecipients must comply with the version of 2 CFR 200 effective on August 8, 2024.

Yes, indirect costs are allowed. A subrecipient can use their current negotiated indirect cost rate, or if they don’t have one, they will use the 10% de minimis indirect cost rate. Please note that the de minimis rate is 10%, not 15%, as subrecipient agreements are governed by the terms in 2 CFR 200 that was effective on August 8, 2024.

Yes. Organizations can apply for CCIA funds from multiple CCIA awardees. However, the maximum amount of CCIA funds that an organization, its affiliates, and subsidiaries can receive is $10 million unless an exception is granted. Each CCIA awardee may have different exception criteria.

Each CCIA awardee has its own eligibility criteria. The other CCIA awardees include Green Bank for Rural America, a subsidiary of Appalachian Community Capital; Justice Climate Fund; Inclusiv; and Native CDFI Network. Please visit their respective websites to learn more.

Capitalization and technical assistance funding caps are at the organization level, which includes its affiliates and subsidiaries. Affiliates and subsidiaries are defined in 12 CFR 1805 as follows:

• Affiliate: a company or entity that Controls, is Controlled by, or operates under common Control with another company.
• Subsidiary: Subsidiary means any company that is owned or Controlled directly or indirectly by another company and includes any service corporation owned in whole or part by an Insured Depository Institution or any Subsidiary of such a service corporation, except as provided in 12 CFR § 1805.200(b)(4).
• Control or Controlling:
  • Ownership, control, or power to vote 25 percent or more of the outstanding shares of any class of Voting Securities of any company, directly or indirectly or acting through one or more other persons;
  • Control in any manner over the election of a majority of the directors, trustees, or general partners (or individuals exercising similar functions) of any company; or
  • Power to exercise, directly or indirectly, a controlling influence over the management, credit or investment decisions, or policies of any company.

The National Clean Investment Fund, or NCIF, is a $14 billion grant program that is part of the Greenhouse Gas Reduction Fund. EPA has selected three applicants to establish national clean financing institutions that deliver accessible, affordable financing for clean technology projects nationwide. The three selectees are the Climate United Fund, Coalition for Green Capital, and Power Forward Communities. Please visit their websites to learn more.

Organizations can apply for NCIF funding for eligible projects in addition to CCIA funding.

No, it does not. An organization can receive $10 in capitalization funding from CCIA and still be eligible to receive an investment from the National Clean Investment Fund (NCIF).

OFN is launching its CCIA program with a pilot round of funding and training. The pilot approach maximizes efficiency by focusing on applicants who are ready to test the process. The pilot allows us to capture quick feedback, refine the program, and ensure a good user experience for the first full funding round in early 2025.

OFN will open a full funding round, available to all OFN members, in early 2025.

To apply in the pilot funding round, entities must:

• Have a Unique Entity Identifier (UEI) from SAM.gov.
• Be a non-profit and/or certified Community Development Financial Institution (CDFI) (EPA requirement).
• Be current OFN members in good standing, including:
  • Entities must be current on their dues obligations to OFN
  • Entities must comply with the annual membership survey requirement; new OFN members must have submitted the annual membership survey to OFN prior to 9/30/2024.
• Pass OFN’s Nascent Climate Lender Self-Assessment (available in the application portal)
• Have submitted a clean financing pipeline form, a letter of interest, or a letter of support for the OFN CCIA Program in 2023. Entities that comply with this requirement were notified via email.*

*If you believe you submitted one of these documents but were not contacted by OFN, please reach out to [email protected].

No, for the pilot funding round, organizations must have become members by Sept 30, 2024. Organizations can still become members of OFN at any time and be eligible for other funding rounds.

Join OFN.

Please visit the resources on our How to Apply page to access the application materials. Make sure to leverage our Application Guidance as you complete the application.

The pilot application opens on October 10, 2024. The application is divided into two parts. Part 1 is due on November 7, 2024. OFN will evaluate Part 1 applications in November and invite a selection of applicants to complete Part 2. Part 2 will launch in early December and close in January 2025.

OFN will use CLIMAT, a proprietary evaluation methodology, to assess applicants’ climate financing readiness. Using the CLIMAT methodology, OFN will assign applicants into one of four categories: Nascent, Emerging, Maturing, or Established. The definitions of each category are below:

• Nascent Climate Lender
  1. Has not intentionally lent to projects that reduce GHG emissions.
  2. May have begun creating a strategy or conducted initial research.
• Emerging Climate Lender
  1. Has a limited track record of climate financing or has recently launched a climate financing program backed by sufficient research and resources to produce a realistic pipeline.
  2. Climate financing program capacity, products, and/or procedures need additional development.
• Maturing Climate Lender
  1. Has a substantial track record of climate financing, with some need for additional capacity, products, and procedures.
• Established Climate Lender
  1. Has a robust track record and an active pipeline of projects that are expected to meet program eligibility requirements.
  2. Has well-developed capacity, products, and procedures.

The Nascent Climate Lender Self-Assessment is a built-in component of the application for OFN CCIA funding. Applicants will be required to answer a series of questions to help determine if they are ready to receive funding.

Nascent climate lenders will not be eligible for Capitalization Funding or Technical Assistance subaward funding. OFN intends to provide training, resources, and hands-on support to enable such lenders to progress along the climate readiness curve and become eligible for funding in future rounds. Nascent climate lenders may apply to the Nascent Climate Lender Training.

OFN will work with applicants to make this determination in Part 2 of the Pilot Funding Round application. 

If an applicant is not selected to participate in the pilot round, there will be future opportunities to apply for funding. OFN anticipates another round of funding in early 2025.

OFN anticipates providing up to 20 subawards during the pilot round. The anticipated Capitalization (CF) subaward size will range from $2 million to $10 million, depending on an applicant’s CLIMAT and CAMEL rating. The maximum Technical Assistance (TA) subaward size is $1 million. OFN will not approve Exception subawards (CF awards >$10 million) in the pilot round.

OFN has designed its application to request information that eligible organizations should already have. Additionally, completing the application should not require the expertise of an outside consultant.

Generally, in Part 1, applicants will need to provide information such as: how they plan to use Capitalization and Technical Assistance funding, past relevant lending experience, CCIA-eligible project pipeline, climate financing impact metrics, audit reports, among others. In Part 2, applicants will need to provide details on closed climate loans, climate financing policies and guidelines, and various other documents to assess climate lending readiness and institutional strength. Current OFN borrowers will only need to submit a limited amount of new information.

Please see Section 9 of the RFA for a detailed checklist of application materials.

All types of partnerships are encouraged to support the objectives of the program. However, ultimately, the capital and requirements will flow from OFN to a single organization.  

Yes, you may submit the financial report from the most recent available quarter.  

OFN will require that a subrecipient commit (legally obligate) its funding within three years of the closing date of the subaward. For capitalization funding, the subrecipient will have additional time beyond the three years to disburse the funds. This approach is designed to account for construction loans. OFN will provide additional guidance.  

As detailed in the OFN CCIA Pilot Program Application Guidance, Section 4.2, CCIA Lending the scoring for CCIA Lending section questions is as follows:

Questions 2.1, Track-record of lending in CCIA project categories, and question 2.2, Loan listing of CCIA-eligible project categories, are worth a combined 20 points.

Questions 2.3, Dollar amount of CCIA-eligible pipeline, and 2.4, Strength of CCIA-eligible project pipeline are worth a combined 30 points. Question 2.3 is worth 10 points and question 2.4 is worth 20 points.

Below is the revised version of Table 1 in Section 1.2, updated to reflect the scoring detailed in the body of the Application Guidance.

This question is simply meant to gauge applicants’ interest in OFN providing loan capital to support an applicant in reaching its private capital mobilization target. OFN does not currently have a loan product available, so there are no specific terms we can share.

No, it would not preclude you. Your organization would be allowed to apply under the Exception provisions in a later round.

No, it will not. As long as your organization is an OFN member, the EIN match in our system will enable us to confirm your membership. We also cross-reference UEI with SAM.gov.

OFN’s Pilot Nascent Climate Lender Training Program aims to provide access to the resources, skills, and support needed to help organizations develop the foundation for a successful climate lending program. This is a six-month program intended to accelerate an organization’s journey to becoming an Emerging climate lender.

The nascent climate lender training program will be offered biannually from 2025 until 2028, with cohorts running from January to June and July to December of each year.

OFN is running a pilot of the training program from January to July 2025 and will seek participant feedback throughout the training to ensure we meet your needs, deliver relevant content, and improve the user experience for future program cohorts.

Please visit the How to Apply for Training page to learn more about this training program.

Only OFN members in good standing are eligible to participate in this program.

Not currently a member? Join OFN.

Organizations will need to apply and be selected for the Nascent Climate Lender Training Program. Apply Now.

Applications will open on October 10 and close on November 7 at 11:59 pm ET. For this round, organizations must have become members of OFN prior to October 1, 2024.

No. The Nascent Climate Lender Training Program will enable organizations who operationalize lessons and assignments throughout the program – or upon completion of it – to be positioned to successfully apply for capitalization funding from OFN’s CCIA program. Participation in the program does not guarantee access to CCIA funding.

No. To be eligible to apply for funding from OFN, an organization must be an Emerging, Maturing, or Established climate lender at the time of application. OFN is committed to providing a comprehensive set of tailored resources and programming to assist community lenders in advancing along the climate lending learning curve. The Nascent Climate Lender Training Pilot Program is one component of OFN’s capacity building offerings, and designed to help accelerate an organization’s journey to becoming an Emergent climate lender.

However, organizations may increase their climate lending readiness through other mechanisms.

Please see the question “What are the definitions of the different categories of climate lender readiness (Nascent, Emerging, Maturing, Established)?” to understand the different lender readiness levels.

The Nascent Climate Lender Training is designed to prepare organizations to apply for CCIA funding. Therefore, organizations who have completed and operationalized the lessons will likely be best positioned to apply. However, organizations may apply for funding prior to completing the training. Like any other funding applicant, the organization will need to demonstrate its readiness to deploy the funding if awarded.  

Please contact OFN’s Development Services team at [email protected].

These FAQs will be updated as often as practical with new questions and answers and the latest information. If you have a time-sensitive question that is not answered here or would like to suggest that we include an additional question and answer, please send an email to [email protected].