Empowering Communities Together

The Cooperative Development Financial Institutions Fund (CDFI Fund) plays an important role in generating economic growth and opportunity in some of our nation’s most distressed communities. By offering tailored resources and innovative programs that invest federal dollars alongside private sector capital, the CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities. Learn more about the CDFI Fund’s programs and initiatives below.

ABOUT
The Cooperative Development Financial Institutions Fund (CDFI FUND) promotes self-help and mutual aid in community, economic, and social development through cooperative enterprise. CDFI is a thought leader in the use of cooperatives to create resilient communities, including the housing and care needs of seniors and people living with disabilities. Through its funds, fiscal sponsorships, and fundraising, CDFI makes grants and loans that foster cooperative development domestically and abroad. CDFI provides recovery grants to cooperatives impacted by disaster, Those who want to start a small business, Buy/Renovation of house, Pay off credits, Student loan, Medical bills, Etc. This include old and young people.

Since its creation, the CDFI Fund has awarded more than $5.2 billion to CDFIs, community development organizations, and financial institutions through: the Bank Enterprise Award Program; the Capital Magnet Fund; the CDFI Rapid Response Program; the Community Development Financial Institutions Program, including the Healthy Food Financing Initiative; the Economic Mobility Corps; the Financial Education and Counseling Pilot Program; the Native American CDFI Assistance Program; and the Small Dollar Loan Program. In addition, the CDFI Fund has allocated $66 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and closed guaranteed bonds for more than $1.8 billion through the CDFI Bond Guarantee Program.

Features

VISION

The vision of the Community Development Financial Institutions Fund (the CDFI Fund) is an America in which all people and communities have access to the investment capital and financial services they need to prosper.

MISSION

The CDFI Fund's mission is to expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors, and financial service providers.

OVERVIEW

The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to Community Development Financial Institutions (CDFIs). The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement Act of 1994, as a bipartisan initiative.

Services

The BEA Program

Bank Enterprise Award Program › The BEA Program awards FDIC-insured depository institutions for increasing their support of CDFIs and advancing their community development activities in many of our country’s most highly distressed communities. These activities promote economic opportunity and impact real lives nationwide.

CDFI Rapid Response Program

The CDFI Rapid Response Program is designed to quickly deploy COVID-19 relief capital to the affected communities.

Free Grant

Through the Capital Magnet Fund, the CDFI Fund provides competitively awarded grants to every individuals who need financial assistance. These awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities.

grant application form

We use your information to verify your identity, help keep our platform secure and determine how much you qualify for. if you want to learn more about how we use and share your data, review Privacy Notice. Sharing your information with CDFI FUND does not affect your credit score. All identity verification information is encrypted.
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Contact

  • United States

Testimonials

     

 Thank you so much. This means a lot to me. 

Amy Warmouth: Visualiser of Interiors

 I don't believe this at first not until i receive the money in my account. Thank you CDFI 

Joe Smith: Business Comsultant

 Omg! This is a blessing i have been praying for. I can not believe this, $100,000 is so much money. This will help my business and other financial issue i have. Thank you much. 

Julia Western: Senior Designer