Community Development Financial Institutions Fund

Community Development Financial Institutions Fund

Community Development Financial Institutions Fund

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Description:
The Community Development Financial Institutions Fund, or CDFI Fund, is a fund established by the Reigle Community Development and Regulatory Improvement Act of 1994 administered by the U.S. Department of the Treasury. The CDFI Fund promotes economic revitalization in distressed communities throughout the U.S. by providing financial assistance and information to community development financial institutions, or CDFI. Financial institutions, which may include banks, credit unions, loan funds, and community development venture capital funds, can apply to the CDFI Fund for formal certification as a CDFI. As of September 1, 2005, there were 747 certified CDFIs in the U.S.

The CDFI Fund offers a variety of financial programs to provide capital to CDFIs, such as the Financial Assistance Program, Technical Assistance Program, Bank Enterprise Award Program, and the New Markets Tax Credit Program.

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