news.cuna.org/articles/109396-inside-washington

Inside Washington

February 9, 2016

WASHINGTON (2/9/16)--Electronic applications are now available for the 2016 round of the U.S. Treasury's Community Development Financial Institution (CDFI) Fund's Capital Magnet Fund. Fund awardees are able to utilize funds to create financing tools such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees. Recipients are required to leverage private and public funds to finance affordable housing and economic development activities that yield a minimum ratio of 10:1. Applications must be received by March 16 through Grants.gov and through the CDFI Fund's system by March 30. The CDFI Fund estimates that approximately $80 million will be available...