The Treasury Department’s Community Development Financial Institutions Fund today announced the opening of the fiscal year 2021 funding round for the CDFI Rapid Response Program, which will provide $1.25 billion to help CDFIs respond to the pandemic. Applications must be submitted to the CDFI Fund by March 25. Certified CDFIs that have received certification as of Feb. 26, 2021, are eligible to apply.
This funding is the first tranche of $3 billion in total funding that was allocated to support CDFIs as part of the recent COVID-19 relief bill. The CDFI fund will make an additional $1.75 billion in funding available later this year for grants to minority lending institutions and investment in low- and moderate-income minority communities.
