The Community Development Financial Institutions Fund (CDFI Fund) of the Treasury Department is inviting applications for financial assistance and technical assistance grants under the CDFI Program for the fiscal year 2021. The program offers Financial Assistance (FA) awards up to $1 million and Technical Assistance (TA) grants up to $125,000 to eligible Community Development Financial Institutions to enhance their financial and organizational capacities. These awards prioritize low-income communities lacking access to affordable financial services. The application process requires compliance with specific federal regulations and submission deadlines via Grants.gov and the AMIS portal.
Simple Explanation
The government is giving money to special banks called CDFIs to help them become better at helping people who have a hard time getting money from regular banks. Some CDFIs can get up to $1 million, and smaller ones can get $125,000, but they have to follow certain rules to get this money.