The CDFI Fund is Now Accepting Applications for the 2014 Round of the CDFI Bond Guarantee Program
May 11, 2014
The U.S. Department of Treasury's Community Development Financial Institutions Fund (CDFI Fund) has announced that it is now accepting applications for the position of Qualified Issuer in the 2014 round of the CDFI Bond Guarantee Program. The application period will close on June 23, 2014.
The Bond Guarantee Program, launched in 2013, provides a federal guarantee to bonds issued by non-federal entities known as Qualified Issuers. The bond proceeds are deployed as low-cost (3%-7%), long-term (29.5 year) loans to borrowers who use the capital to drive development in economically distressed communities. For the 2014 round, the Bond Guarantee Program has been authorized to guarantee up to $750 million.
NAFOA remains committed to advocating for the inclusion of tribal projects in the Bond Guarantee Program. Please refer to the followingreport for an overview of NAFOA's involvement to date. If you or your tribe is aware of projects in Indian Country which would be suitable for this program, please contact NAFOA.
The CDFI Fund will host three workshops for potential Qualified Issuer applicants in June. NAFOA recommends that any Native CDFI planning on applying for the Bond Guarantee Program attends one of these workshops, as they will offer an in-depth discussion of the financial structure of the program. These workshops will be held on:
- June 2-3, 2014 in Detroit, MI, at the Federal Reserve Bank of Chicago - Detroit Branch.
- June 10-11, 2014 in Washington, DC, at the U.S. Treasury Department.
- June 17-18, 2014 in San Francisco, CA, at the Federal Reserve Bank of San Francisco.
Registration for these workshops is required, to register please visit theCDFI Fund's website.
For questions regarding the CDFI Bond Guarantee Program please contact the CDFI Fund directly, firstname.lastname@example.org.