The Community Development Financial Institution Program’s Grant Process
Comments to Community Development Financial Institutions Fund (OMB #1559-0021)
As part of its efforts to support community development, the Community Development Financial Institution (CDFI) Fund offers financial and technical assistance grants. These grants seek to ensure meaningful economic outcomes at the local level through a rigorous application process. We suggest a framework to achieve the program’s goals in a manner that also helps strengthen the capacity of local community organizations.
WHY THIS MATTERS
The Department of the Treasury’s CDFI Fund program provides grants which are critical to fostering community economic development. However, we argue that the program’s application and screening process is not currently in congruence with its goals. Without substantial changes, we believe the program is likely to be less effective.
VIEW CSBDF’S FULL PUBLIC COMMENT:
Carolina Small Business Development Fund. 2019. “Comments on the CDFI Program’s Financial Assistance and Technical Assistance Applications.” https://carolinasmallbusiness.org/publications/comment-cra-rulemaking/.