FY 2024 CDFI Bond Guarantee Program Application Period Now Open
Attention, community development financial institutions (CDFIs) and stakeholders!
The fiscal year (FY) 2024 application period for the CDFI Bond Guarantee Program is officially open. With up to $500 million in bond guarantee authority available for Eligible Community Development Financial Institutions (Eligible CDFIs), this opportunity promises significant potential for advancing community development initiatives across the nation.
Through the CDFI Bond Guarantee Program, selected Certified CDFIs or their designees issue bonds that are guaranteed by the Secretary of the Treasury. These bonds’ proceeds are then utilized to extend credit to CDFIs for community development financing and long-term community investments. The impact of these investments spans various financial activities, including supporting commercial facilities, affordable housing projects, businesses owned by low-income individuals, and community or economic development initiatives in underserved rural areas.
Notably, bond guarantees start at a minimum of $100 million each, with multiple Eligible CDFIs having the option to partake in a single $100 million guarantee. Each participating CDFI must contribute a minimum of $10 million.
For those eager to seize this opportunity, application materials are already available on the CDFI Fund’s website under the ‘How To Apply’ section. The deadline for Qualified Issuer Applications is 11:59 p.m. EST on April 16, 2024, while Guarantee Applications must be submitted by 11:59 p.m. EST on April 23, 2024. The CDFI Fund welcomes inquiries until April 9, 2024, at 11:59 p.m. ET, with all questions directed to [email protected].
In addition, the CDFI Fund will host a comprehensive webinar:
| Date and Time | Conference Line | Access Link | |
| Application Webinar with Q&A | March 6, 2024 1:00-5:00 PM EST | Call: 1-888-790-1954 Passcode: 1780535 | Access Webinar Conference Number: PWXW3338288 Passcode: 1780535 |
For more details and access to application materials, visit www.cdfifund.gov/bond.
