[CircleUp] CDFI Fund Receives 17 Applications Requesting $9.8 Million Under the 2009 Supplemental Round of the Native American CDFI Assistance Program

[Info]

CDFI
<http://www.cdfifund.gov/news_events/CDFI-2009-37-Fund-Receives-Applications
-for-NACA-Supplemental-Round.asp>  Fund Receives 17 Applications Requesting
$9.8 Million Under the 2009 Supplemental Round of the Native American CDFI
Assistance Program 
July 20, 2009 
[CDFI-2009-37]

CDFI Fund Receives 17 Applications Requesting $9.8 Million Under the 2009
Supplemental Round of the Native American CDFI Assistance Program

Monday, July 20, 2009 

Washington, DC - The U.S. Department of the Treasury's Community Development
Financial Institutions (CDFI) Fund announced today that it received a total
of 17 applications from 11 states, for the fiscal year (FY) 2009
supplemental round of the Native American CDFI Assistance (NACA) Program.
The applicants requested an aggregate total of $9.8 million in Financial
Assistance.

In order to accommodate the additional solicitation of applications, yet
still expedite the flow of Recovery Act award dollars into Native
Communities, the CDFI Fund announced all $8 million of Recovery Act funding
earlier this month, in addition to $3.3 million of Technical Assistance-only
awards utilizing annually appropriated resources.  A second announcement
will be made in September 2009, when approximately $3.7 million of remaining
annual appropriations will be awarded to the most highly rated applicants in
a combined pool that includes: 1) applicants that submitted applications in
response to the amended Notice of Funds Availability (NOFA); and 2)
applicants that applied under the original FY 2009 NOFA but did not receive
an award in the first funding announcement.

 

 

The characteristics of the applicant pool include:

 

Geographic Distribution

*	Applications were received from 11 states.
*	17 applicants applied under the NACA Program requesting an aggregate
total of $9,857,193 in Financial Assistance.

*	Institutional type:

*	39 (64 percent) applicants are loan funds;
*	2 (12 percent) applicants are credit unions; and
*	2 (12 percent) applicants are a bank, thrift or a holding company.

For more information on the CDFI Fund and its programs, please visit
<http://www.cdfifund.gov> www.cdfifund.gov.

To view the new Native Initiatives Strategic Plan, please
<http://cdfifund.gov/docs/2009/naca/Native%20American%20Strategic%20Plan.pdf
> click here.

 

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