The Community Development Financial Institutions (CDFI) Fund is inviting applications for financial assistance or technical assistance grants through the Native American CDFI Assistance (NACA) Program for fiscal year 2021. FA awards of up to $1 million are available for CDFIs serving Native American, Alaska Native, or Native Hawaiian populations to enhance their lending operations, while TA grants of up to $150,000 aim to build CDFIs’ organizational capabilities. The funding is contingent on availability, and applicants must adhere to various application and eligibility guidelines outlined by the Treasury Department's CDFI Fund.
Simple Explanation
The government is offering money to help special banks that serve Native American communities so they can get better at lending money to people. Some banks can get a big amount of money, while others can get a smaller amount to improve how they work.