WASHINGTON (3/27/13)--Community Development Financial Institutions (CDFIs) now have until noon EDT on April 8 to submit their mandatory recertification applications.
This is a one-week extension of the original April 1 deadline and it was granted because of accessibility issues over the past several days that prevented the public from visiting the CDFI Fund's website or the myCDFIFund database.
The recertification requirement involves CDFIs originally or most recently certified before Feb. 1, 2010.
The Treasury's CDFI Fund helps locally based financial institutions--including credit unions--offer small business, consumer and home loans in communities and populations that lack access to affordable credit. Credit unions that are certified to take part in the CDFI program may apply for as much as $2 million in funding to help maintain their credit union's presence in the community.
Earlier this year the CDFI Fund said it expects to provide up to $165 million to eligible financial institutions in 2013.
For guidance on the mandatory recertification effort, use the resource link below.