[CircleUp] CDFI Coalition E-news

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·         In This Issue:

·         CDFI Fund Advisory Board Meeting Held

·         Goldman Sachs Launches 10,000 Small Businesses Initiative

·         Treasury Department and Small Business Administration Host Small Business Finance Forum 

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E-Newsletter                                                                               November 24, 2009

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CDFI Fund Advisory Board Meeting Held   <http://www.cdfifund.gov/graphics/header.gif> 

On Monday, November 16, the CDFI Fund's Advisory Board met.  With Bill Bynam of Hope Federal Credit Union and the Enterprise Corporation  of the Delta presiding, the meeting was opened with welcoming remarks from Assistant Secretary for Financial Institutions, Michael Barr.   In addition to a review of the accomplishments of the CDFI Fund in the past year, the members discussed the extremely difficult business environment.   With respect to the Advisory Board's previous recommendations to Treasury, Chairman Bynum was appreciative that the Treasury Department had agreed to issue term sheets for regulated CDFIs to use to access TARP Funds.  He asked that the documents be made public as soon as possible and expressed support for including non-regulated CDFIs.

The Fund also discussed its current timeline for program awards announcements:

•    CDFI FA Program:  November 18, 2009 application deadline - May 2010 announcement
•    Native CDFI Program:  October 7, 2009 application deadline - March 2010 announcement
•    NMTC Program:  February 2010 application open - due date of April 2010, and announcements in November 2010
•    BEA Program: February 2010 application opens with an April 2010 deadline and an announcement of awards in July   2010
•    Capital Magnet Fund: Interim Program Rule, NOFA and Application to be released winter 2010 with the anticipated   application deadline in spring, 2010
•    Financial Education and Counseling Pilot Program: Applications due November 19 ,2009 and awards expected in February, 2010

 

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