WASHINGTON (1/30/15)--Prospective applicants to the U.S. Treasury's Community Development Financial Institutions (CDFI) Bond Guarantee Program are strongly encouraged to attend application workshops in February. As of Dec. 31, credit unions make up 243 of 933 CDFIs in the country.
The Bond Guarantee Program allows the Treasury Department to guarantee notes or bonds issued to support CDFIs that make investments for eligible community or economic development purposes, providing those institutions with long-term, patient capital to CDFIs. The Treasury may guarantee up to 10 bonds per year, each at a minimum of $100 million. Per statute, the total of all bonds cannot exceed $1 billion per year.
According to the CDFI Fund, the workshops are meant to "expand the CDFI industry's knowledge of the CDFI Bond Guarantee Program and the various ways to participate." Fund staff will describe the application process, including how applications are reviewed and evaluated.
Registration is now open for the workshops, which will take place:
Both workshops will take place at the U.S. Treasury CDFI Fund, 1801 L St. NW, Washington, D.C. Registration for both sessions closes at 5 p.m. (ET) Feb. 20.
According to the CDFI Fund, information on the fiscal year 2015 round, including opening dates and deadlines, will be released in the coming weeks.