The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2025 application period for the CDFI Bond Guarantee Program. A total of up to $500 million in bond guarantee authority is estimated to be available for Eligible Community Development Financial Institutions (Eligible CDFIs) in FY 2025, pending final Congressional appropriations.
Through the CDFI Bond Guarantee Program, selected Certified CDFIs or their designees issue bonds that are guaranteed by the Secretary of the Treasury and use the bond proceeds to extend credit to CDFIs for community development financing and long-term community investments. Authorized uses of the loans financed through the bond proceeds include a variety of financial activities, such as supporting commercial facilities that promote revitalization, community stability, and job creation/retention; housing that is principally affordable to low-income people; businesses that provide jobs for low-income people or are owned by low-income people; and community or economic development in low-income and underserved rural areas.
Bond guarantees are a minimum of $100 million each. Multiple Eligible CDFIs may be a part of a single $100 million guarantee provided that each Eligible CDFI participates at a minimum of $10 million.
Application Materials
In anticipation of the publication of the FY 2025 Notice of Guarantee Availability (NOGA) in the Federal Register on Friday, December 20, 2024, application materials are available on the CDFI Fund’s website at www.cdfifund.gov/bond under the ‘How To Apply’ section by clicking Step 2: Apply. Application materials must be submitted through the CDFI Fund’s Award Management Information System (AMIS).
Deadlines
Please reference the NOGA and application instructions for detailed information regarding the following application deadlines.
- Qualified Issuer Applications must be submitted through AMIS by 11:59 p.m. ET on February 18, 2025.
- Guarantee Applications must be submitted through AMIS by 11:59 p.m. ET on February 24, 2025.
- The last day the CDFI Fund will accept questions regarding the FY 2025 application period for the CDFI Bond Guarantee Program is February 10, 2025, at 11:59 p.m. EST. All questions must be submitted electronically to the program office at bgp@cdfi.treas.gov.
Qualified Issuer Applications and Guarantee Applications received in FY 2024 that were neither withdrawn nor declined in FY 2024 will be considered under the FY 2025 authority.
Learn About Applying to the CDFI Bond Guarantee Program
To ensure potential Qualified Issuer and Guarantee applicants have the information needed to consider whether to apply this round, the CDFI Fund will conduct a webinar that will highlight the most important information from the presentation used during the customary application workshop. The webinar will last four hours, with the last 60 minutes reserved to answer any questions that potential applicants may have. The CDFI Fund will post the presentation in advance of the webinar.
Webinar Details
This webinar requires the use of Zoom. Advance registration is not required to participate. You can access the webinar using the link provided below, at least five minutes prior to the beginning of the webinar. Requests for reasonable accommodations under section 504 of the Rehabilitation Act should be directed to Jay Santiago at (202) 653-0300 no later than 48 hours before the conference calls begin.
Date: Wednesday, January 15, 2025
Time: 1:00 p.m. to 5:00 p.m. ET
Access Details
Please click the following link to join the webinar: https://www.zoomgov.com/j/1600193890
Webinar ID: 160 019 3890
Passcode: 547925
Or by telephone, please dial a number based on your current location:
+1 669 254 5252 US (San Jose)
+1 646 964 1167 US (US Spanish Line)
+1 646 828 7666 US (New York)
+1 669 216 1590 US (San Jose)
+1 415 449 4000 US (US Spanish Line)
+1 551 285 1373 US (New Jersey)
International numbers available: https://www.zoomgov.com/u/aey9CvFGrR
Questions
For more information about the CDFI Bond Guarantee Program, please visit www.cdfifund.gov/bond, or email the CDFI Fund’s Help Desk at bgp@cdfi.treas.gov.