2025-01322. Notice of Funds Availability

Table 1—FY 2025 CDFI Program Funding RoundCritical Deadlines for Applicants

Description	Deadline	Time (Eastern Time- ET)	Submission method
Last day to create an AMIS Account (all Applicants)	February 18, 2025	11:59 p.m. ET	AMIS.
Last day to enter Employer Identification Number (EIN) and Unique Entity Identifier (UEI) in AMIS (all Applicants)	February 18, 2025	11:59 p.m. ET	AMIS.
Last day to submit SF-424 Mandatory Form (Application for Federal Assistance)	February 18, 2025	11:59 p.m. ET	Electronically via Grants.gov.
Last day to contact CDFI Program staff	March 19, 2025	5:00 p.m. ET	Service Request via AMIS Or CDFI Fund Helpdesk: 202-653-0421.
Last day to contact AMIS-IT Help Desk (regarding AMIS technical problems only)	March 21, 2025	5:00 p.m. ET	Service Request via AMIS Or 202-653-0422 Or [e-mail].
Last day to submit Title VI Compliance Worksheet (all Applicants) 1	March 21, 2025	11:59 p.m. ET	AMIS.
Last day to submit CDFI Program Application for Financial Assistance (FA) or Technical Assistance (TA)	March 21, 2025	11:59 p.m. ET	AMIS.
Last day to submit Excel Housing Production FA (HP-FA) Application	April 4, 2025	11:59 p.m. ET	Service Request via AMIS.
1  This requirement also applies to Subsidiary Insured Depository Institutions that will carry out award activities on behalf of Depository Institution Holding Company Applicants.

( print page 6052)

Executive Summary: Through the CDFI Program, the CDFI Fund provides (i) FA awards to Certified Community Development Financial Institutions (CDFIs) to build their financial capacity to lend to Eligible Markets and/or their Target Markets, and (ii) TA awards to build Certified and Emerging CDFIs' organizational capacity to serve Eligible Markets and/or their Target Markets. All awards provided through this NOFA are subject to funding availability.

I. Program Description

A. History: The CDFI Fund was established by the Riegle Community Development Banking and Financial Institutions Act of 1994 to promote economic revitalization and community development through investment in and assistance to CDFIs. The CDFI Program made its first awards in 1996 and the Native American CDFI Assistance (NACA) Program made its first awards in 2002.

B. Priorities: Through the CDFI Program's FA and TA awards, the CDFI Fund invests in and builds the capacity of for-profit and non-profit community-based lending organizations known as CDFIs. These organizations, Certified as CDFIs by the CDFI Fund, serve rural and urban Low-Income people, and communities across the nation that lack adequate access to affordable Financial Products and Financial Services.

C. Authorizing Statutes and Regulations: The CDFI Program is authorized by the Riegle Community Development Banking and Financial Institutions Act of 1994 (Pub. L. 103-325, 12 U.S.C. 4701 et seq.) (Authorizing Statute). The regulations governing the CDFI Program are found at 12 CFR parts 1805 and 1815 (the Regulations) and set forth evaluation criteria and other program requirements. The CDFI Fund encourages Applicants to review the Regulations; this NOFA; the CDFI Program Application for Financial Assistance or Technical Assistance (the Application); all related materials and guidance documents found on the CDFI Fund's website (Application materials); and the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR part 1000), which is the Department of the Treasury's codification of the Office of Management and Budget (OMB) government-wide framework for Federal financial assistance management at 2 CFR part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Administrative Requirements) for a complete understanding of the program. Capitalized terms in this NOFA are defined in the Authorizing Statute, the Regulations, this NOFA, the Application, Application materials, or the Uniform Administrative Requirements. Details regarding Application content requirements are found in the Application and Application materials.

D. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR part 1000): The Uniform Administrative Requirements codify financial, administrative, procurement, and program management standards that Federal award agencies must follow. When evaluating Applications, awarding agencies must evaluate the risks posed by each Applicant, and each Applicant's merits and eligibility. These requirements are designed to ensure that Applicants for Federal assistance receive a fair and consistent review prior to an award decision. This review will assess items such as the Applicant's financial stability, quality of management systems, the soundness of its business plan, history of performance, ability to achieve measurable impacts through its products and services, and audit findings. In addition, the Uniform Administrative Requirements include guidance on audit requirements and other award compliance requirements for Recipients.

E. Funding limitations: The CDFI Fund reserves the right to fund, in whole or in part, any, all, or none of the Applications submitted in response to this NOFA.

II. Federal Award Information

A. Funding Availability:

1. FY 2025 Funding Round: Subject to final appropriations, the CDFI Fund expects to award, through this NOFA, approximately $320 million as indicated in table 2.

Table 2—FY 2025 Funding Round Anticipated Category Amounts

Funding categories (see definition in table 7 for TA or table 8 for FA)	Estimated total amount to be awarded (millions) FY 2025	Award amount		Estimated number of awards FY 2025	Estimated average amount to be awarded FY 2025
		Minimum 2	Maximum *
Base-FA: Category I/Small and/or Emerging CDFI Assistance (SECA)	$14.8	$125,000	$700,000	48	$308,000
Base-FA: Category II/Core	101.2	$500,000, or if portfolio outstanding is less than $1,666,700 as of the most recent historic fiscal year end, then 30% of portfolio outstanding	1,000,000	185	547,000
Persistent Poverty Counties—Financial Assistance (PPC-FA)	21.0	$100,000	400,000	137	153,000
Disability Funds—Financial Assistance (DF-FA) **	20.0	$100,000	1,000,000	20	1,000,000
Healthy Food Financing Initiative—Financial Assistance (HFFI-FA) **	24.0	$500,000	5,000,000	15	1,600,000
Housing Production—Financial Assistance (HP-FA) **	100.0	$1,000,000	5,000,000	50	2,000,000
TA	39.0	$10,000	150,000	260	150,000
Total	320.0			715
2  The FA Application Guidance defines “the most recent historic fiscal year” based on an Applicant's fiscal year end.
* Note that, regardless of the stated maximum award in each award category, in no case will the sum of an Applicant's Base-FA, TA, PPC-FA and HP-FA Awards in the last three years exceed $5 million.
** DF-FA, HFFI-FA, and HP-FA funding will be allocated in one competitive round between the NACA and CDFI Program NOFAs.

The CDFI Fund reserves the right to award more or less than the amounts cited above in each category, based upon available funding and other factors, as appropriate. ( print page 6053)

2. Funding Availability for the FY 2025 Funding Round: Funds for the FY 2025 Funding Round are subject to change based on passage of a final FY 2025 appropriations bill; if Congress does not appropriate funds for the CDFI Program there will not be an FY 2025 Funding Round. If funds are appropriated for FY 2025, the amount of such funds may be greater or less than the amounts set forth above. The CDFI Fund reserves the right to contact Applicants to seek additional information if final FY 2025 appropriations for the CDFI Program necessitate change to any of the requirements of this NOFA. As of the date of this NOFA, the CDFI Fund is operating under a continuing funding resolution as enacted by the Continuing Appropriations and Extensions Act, 2025 (Pub. L. 118-83). The HP-FA awards are funded through interest and dividend payments and sale proceeds received under the Department of the Treasury's Emergency Capital Investment Program (ECIP). The amount available for HP-FA awards is estimated based on projected ECIP proceeds and may vary based on the actual proceeds received by the CDFI Fund.

3. Anticipated Start Date and Period of Performance: The Period of Performance for TA awards begins with the date of the award announcement and includes either (i) an Emerging CDFI Recipient's three full consecutive fiscal years after the date of the award announcement, or (ii) a Certified CDFI Recipient's two full consecutive fiscal years after the date of the award announcement, during which the Recipient must meet the Performance Goals and Measures (PG&Ms) set forth in the Assistance Agreement. The Period of Performance for FA awards begins with the date of the award announcement and includes a Recipient's three full consecutive fiscal years after the date of the award announcement, during which time the Recipient must meet the PG&Ms set forth in the Assistance Agreement.

B. Types of Awards: Through the CDFI Program, the CDFI Fund provides two types of awards: Financial Assistance (FA) and Technical Assistance (TA) awards. An Applicant may submit an Application for a TA award or an FA award under the CDFI Program, but not both. FA awards include the Base Financial Assistance (Base-FA) award and the following awards that are provided as a supplement to the Base-FA award: Healthy Food Financing Initiative-Financial Assistance (HFFI-FA), Persistent Poverty Counties-Financial Assistance (PPC-FA), Disability Funds-Financial Assistance (DF-FA), and Housing Production-Financial Assistance (HP-FA). The HFFI-FA, PPC-FA, DF-FA, and HP-FA Applications will be evaluated independently from the Base-FA Application and will not affect the Base-FA Application evaluation or Base-FA award amount. Alternatively, an Applicant may request only HP-FA by submitting an FA Application with no Base-FA award request and submitting the Excel HP-FA Application as well. Additional information on how to complete an FA Application under this circumstance is provided in the Application Guidance.

However, Applicants that qualify for the NACA Program may submit two Applications in certain circumstances: one Application (either for a TA award or an FA award, but not both) through the CDFI Program, and one Application (either for a TA award or an FA award, but not both) through the NACA Program. NACA qualified Applicants that choose to apply for awards through both the CDFI Program and the NACA Program must apply for the same type of award under both programs. For example, an Applicant that applies for an FA award under the NACA Program may apply for an FA award under the CDFI Program, but not for a TA award under the CDFI Program. NACA qualified FA Applicants that choose to apply for an FA award under both the NACA Program and CDFI Program and are selected for an award under both Programs will be provided the FA award under the NACA Program. NACA qualified TA Applicants that choose to apply for a TA award under both the NACA Program and CDFI Program and are selected for an award under both Programs will be provided the TA award under the NACA Program. NACA Applicants cannot receive an award under both Programs within the same funding round. Further, NACA qualified Applicants who seek to only apply for an HP-FA award with no Base-FA award can do so by submitting either a CDFI Program FA Application or a NACA Program FA Application; the FA Application should be submitted with no Base-FA award request and the additional Excel HP-FA Application. Further instructions are found in the Application Guidance. If a NACA qualified Applicant seeks to apply for HP-FA award only, they should apply through either the CDFI Program or the NACA Program, but not both. If a NACA qualified Applicant submits an eligible HP-FA only Application under one program and an eligible Application with a Base-FA award request under the other program, only the Application with the Base-FA award request will be reviewed. The HP-FA only Application will be deemed ineligible.

There are two categories of FA Applicants: Category I (SECA) and Category II (Core) (see definitions in table 8). Category II (Core) FA Applicants applying for Base-FA, PPC-FA, and/or DF-FA must provide evidence of acceptable Matching Funds ^[3] (see table 9 for more information), except Native American CDFIs ^[4] applying under this NOFA, which are exempt from the Matching Funds requirement.^[5] Native American CDFIs that qualify as a Category II (Core) FA Applicant are not required to submit Matching Funds for their award requests. Additionally, the Matching Funds requirement for HFFI-FA and SECA FA Applicants was waived in the enacted FY 2024 Consolidated Appropriations Act, and the final FY 2025 appropriations are still pending. Therefore, HFFI-FA and SECA FA Applicants are not required to submit Matching Funds for their award requests at the time of Application. However, the CDFI Fund reserves the right to request Matching Funds from SECA FA Applicants and/or HFFI-FA Applicants if Matching Funds are not waived in the final FY 2025 CDFI Program appropriations. HP-FA Applicants are not required to provide Matching Funds for HP-FA award requests, as Matching Funds are not required under the Consolidated Appropriations Act, 2021 (P.L. 116-260). TA Applicants are not required to provide Matching Funds.

1. Base-FA Awards: Base-FA awards can be in the form of loans, grants, Equity Investments, deposits, and credit union shares. The form of the Base-FA award is based on the form of the Matching Funds that the Applicant includes in its Application, unless Congress waives the Matching Funds requirement. The Matching Funds requirement was permanently waived ( print page 6054) for Native American CDFIs. Therefore, the Base-FA award will be in the form of a grant for Native American CDFI Applicants. Matching Funds are required at the time of Application submission for Category II (Core) Applicants (except Native American CDFIs) applying for Base-FA awards, and the CDFI Fund reserves the right to request Matching Funds from Category I (SECA) Applicants applying for Base FA awards if Matching Funds are not waived in the final FY 2025 appropriations for these Applicants. Matching Funds must be from non-Federal sources and cannot have been used as Matching Funds for any other Federal award. The CDFI Fund reserves the right, in its sole discretion, to provide a Base-FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant's award request as stated in its Application.

2. Persistent Poverty Counties—Financial Assistance (PPC-FA) Awards: PPC-FA awards will be provided as a supplement to Base-FA awards; therefore, only those Applicants that are selected to receive a Base-FA award through the CDFI Program FY 2025 Funding Round will be eligible to receive a PPC-FA award. PPC-FA awards can be in the form of loans, grants, Equity Investment, deposits, and credit union shares. The form of the PPC-FA award is based on the form of the Matching Funds that the Applicant includes in its Application, unless Congress waives the Matching Funds requirement. The Matching Funds requirement was permanently waived for Native American CDFIs. Therefore, the PPC-FA award will be in the form of a grant for Native American CDFI Applicants. Matching Funds are required at the time of Application submission for Category II (Core) Applicants (except Native American CDFIs) applying for PPC-FA awards, and the CDFI Fund reserves the right to request Matching Funds from Category I (SECA) Applicants applying for PPC-FA awards if Matching Funds are not waived in the final FY 2025 appropriations for these Applicants. Matching Funds must be from non-Federal sources and cannot have been used as Matching Funds for any other Federal award. The CDFI Fund reserves the right, in its sole discretion, to provide a PPC-FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant's award request as stated in its Application.

3. Disability Funds—Financial Assistance (DF-FA) Awards: DF-FA awards will be provided as a supplement to Base-FA awards; therefore, only those Applicants that have been selected to receive a Base-FA award through the CDFI Program FY 2025 Funding Round will be eligible to receive a DF-FA award. DF-FA awards can be in the form of loans, grants, Equity Investments, deposits, and credit union shares. The form of the DF-FA award is based on the form of the Matching Funds that the Applicant includes in its Application unless Congress waives the Matching Funds requirement. The Matching Funds requirement was permanently waived for Native American CDFIs. Therefore, the DF-FA award will be in the form of a grant to Native American CDFI Applicants. Matching Funds are required for Category II (Core) Applicants (except Native American CDFIs) applying for DF-FA awards, and the CDFI Fund reserves the right to request Matching Funds from Category I (SECA) Applicants applying for DF-FA awards if Matching Funds are not waived in the final FY 2025 appropriations for these Applicants. Matching Funds must be from non-Federal sources and cannot have been used as Matching Funds for any other Federal award. The CDFI Fund reserves the right, in its sole discretion, to provide a DF-FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant's award request as stated in its Application.

4. Healthy Food Financing Initiative—Financial Assistance (HFFI-FA) Awards: HFFI-FA awards will be provided as a supplement to Base-FA awards; therefore, only those Applicants that have been selected to receive a Base-FA award through the CDFI Program FY 2025 Funding Round will be eligible to receive an HFFI-FA award. HFFI-FA awards can be in the form of loans, grants, Equity Investments, deposits, and credit union shares. The form of the HFFI-FA award is based on the form of the Matching Funds that the Applicant includes in its Application unless Congress waives the Matching Funds requirement. The Matching Funds requirement was permanently waived for Native American CDFIs. Therefore, HFFI-FA awards will be in the form of a grant to Native American CDFI Applicants. The Matching Funds requirement for HFFI-FA Applicants was waived in the final appropriations bill for FY 2024, and the final FY 2025 appropriations are still pending. As a result, HFFI-FA Applicants are not required to submit Matching Funds for their award requests at the time of Application. However, the CDFI Fund reserves the right to request Matching Funds from HFFI-FA Applicants if Matching Funds are not waived in the final FY 2025 CDFI Program appropriations. The CDFI Fund reserves the right, in its sole discretion, to provide an HFFI-FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant's award request as stated in its Application.

5. Housing Production—Financial Assistance (HP-FA) Awards: Applicants may apply for an HP-FA award as a supplement to a Base-FA award or may apply only for an HP-FA award (without a Base-FA award). If an Applicant applies for an HP-FA award as a supplement to a Base-FA award, it must be selected to receive a Base-FA award through the FY 2025 CDFI Program Funding Round to be eligible to receive an HP-FA award. Alternatively, an Applicant may choose to apply for only an HP-FA award (with no Base-FA award) by completing an FA Application as instructed in the Application Guidance and submitting the Excel HP-FA Application as well. If an Applicant chooses to apply only for an HP-FA Award (with no Base-FA award), it will be ineligible to receive a Base-FA, PPC-FA, DF-FA, or HFFI-FA award. HP-FA awards will be provided in the form of a grant. Because HP-FA awards are funded by proceeds received from ECIP under the Consolidated Appropriations Act, 2021, HP-FA awards are not subject to the Matching Funds requirements. The CDFI Fund reserves the right, in its sole discretion, to provide an HP-FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant's award request as stated in its Application.

6. TA Awards: TA is provided in the form of grants. The CDFI Fund reserves the right, in its sole discretion, to provide a TA award in an amount other than that which the Applicant requests; however, the TA award amount will not exceed the Applicant's request as stated in its Application.

C. Eligible Activities:

1. FA Awards: Base-FA, PPC-FA, DF-FA, HFFI-FA, and HP-FA award funds may be expended for activities serving Commercial Real Estate, Small Business, Microenterprise, Community Facilities, Consumer Financial Products, Consumer Financial Services, Commercial Financial Products, Commercial Financial Services, Affordable Housing, Intermediary Lending to Non-Profits and CDFIs, Climate-Focused Financing, and other ( print page 6055) lines of business as deemed appropriate by the CDFI Fund in the following categories: (i) Financial Products; (ii) Financial Services; (iii) Loan Loss Reserves; (iv) Development Services; ^[6] (v) Capital Reserves; and (vi) Direct Administrative Expenses, subject to certain restrictions outlined in this section. The FA Budget is the amount of the award and must be expended in the eligible activity categories prior to the end of the Budget Period.^[7] None of the eligible activity categories will be authorized for Indirect Costs or an associated Indirect Cost Rate. All FA eligible activities must be in an Eligible Market or the Applicant's approved Target Market. Eligible Market is defined as (i) a geographic area meeting the requirements set forth in 12 CFR 1805.201(b)(3)(ii), or (ii) individuals that are Low-Income, African American, Hispanic, Native American, Native Hawaiian, Alaska Native, Other Pacific Islander, Filipino, Vietnamese, or Persons with Disabilities.

Base-FA Recipients must meet PG&Ms, which will be derived from projections and attestations provided by the Applicant in its Application, to achieve one of the following FA Objectives: (i) Increase Volume of Financial Products in an Eligible Market(s) and/or in the Applicant's approved Target Market and/or Increase Volume of Financial Services in an Eligible Market(s) and/or in the Applicant's approved Target Market; (ii) Serve Eligible Market(s) or the Applicant's approved Target Market in New Geographic Area or Areas; (iii) Provide New Financial Products in an Eligible Market(s) and/or in the Applicant's approved Target Market; and (iv) Serve New Targeted Population or Populations. FA awards may only be used for Direct Costs associated with an eligible activity; no indirect expenses are allowed. Up to 15% of the FA award may be used for Direct Administrative Expenses associated with an eligible FA activity. “Direct Administrative Expenses” shall mean Direct Costs, as described in section 2 CFR 200.413 of the Uniform Administrative Requirements, which are incurred by the Recipient to carry out the Financial Assistance. Direct Costs incurred to provide Development Services or Financial Services are not deemed to be Direct Administrative Expenses and therefore are not subject to the 15% limitation.

The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements,^[8] with respect to any Direct Costs. For purposes of this NOFA, the five eligible activity categories are defined in table 3.

Table 3—Base-FA, PPC-FA, DF-FA, HFFI-FA, and HP-FA Eligible Activity Categories

FA eligible activity	FA Eligible activity definition	Eligible CDFI institution types
i. Financial Products	FA expended as loans, Equity Investments, loan guarantees, and similar financing activities (as determined by the CDFI Fund) including the purchase of loans originated by Certified CDFIs and the purchase of loans originated by entities that do not have the CDFI Certification but were made to members of the Applicant's Target Market. In the case of CDFI Intermediaries, Financial Products may also include loans to CDFIs and/or Emerging CDFIs, and deposits in Insured Credit Union CDFIs, Emerging Insured Credit Union CDFIs, and/or State-Insured Credit Union CDFIs. For HFFI-FA, however, financing for prepared food outlets are not eligible activities, including the purchase of loans, loan refinancing, or any other type of financing for prepared food outlets.	All.
ii. Financial Services	FA expended for providing checking, savings accounts, check cashing, money orders, certified checks, automated teller machines, deposit taking, safe deposit box services, and other similar services.	Regulated Institutions 9 only. Not applicable for HFFI-FA or HP-FA Recipients.
iii. Loan Loss Reserves	FA set aside in the form of cash reserves, or through accounting-based accrual reserves, to cover losses on loans, accounts, and notes receivable or for related purposes that the CDFI Fund deems appropriate.	All.
iv. Development Services	FA expended for activities undertaken by a CDFI, its Affiliate or contractor that (i) promote community development and (ii) prepare or assist current or potential borrowers or investees to use the CDFI's Financial Products or Financial Services. For example, such activities include financial or credit counseling; homeownership counseling; business planning; and management assistance.	All.
v. Capital Reserves	FA set aside as reserves to support the Applicant's ability to leverage other capital, for such purposes as increasing its net assets or providing financing, or for related purposes as the CDFI Fund deems appropriate.	Regulated Institutions only. Not applicable for DF-FA.

2. DF-FA Award: DF-FA award funds may only be expended for eligible FA activities (referenced in table 3) to directly or indirectly benefit individuals with disabilities. The DF-FA Recipient must close Financial Products for the primary purpose of directly or indirectly benefiting people with disabilities, where the majority of the DF-FA supported loans or investments benefit individuals with disabilities, in an amount equal to or greater than 85% of the total DF-FA provided. Eligible DF-FA financing activities may include, among other activities, loans to develop or purchase affordable, accessible, and safe housing; loans to provide or facilitate employment opportunities; ( print page 6056) and loans to purchase assistive technology.

For the purposes of DF- FA, a person with a disability is a person who has a physical or mental impairment that substantially limits one or more major life activities, a person who has a record of such an impairment, or a person who is regarded as having such an impairment, as defined by the Americans with Disabilities Act (ADA), 42 U.S.C. 12102.

3. HFFI-FA Award: HFFI-FA award funds may only be expended for eligible FA activities referenced in table 3. The HFFI-FA investments must comply with the following guidelines:

a. Recipient must close Financial Products for Healthy Food Retail Outlets and Healthy Food Non-Retail Outlets in its approved Target Market in an amount equal to or greater than 100% of the total HFFI Financial Assistance provided. Eligible financing activities to Healthy Food Retail Outlets and Healthy Food Non-Retail Outlets require that the majority of the loan or investment be devoted to offering a range of Healthy Food choices, which may include, among other activities, investments supporting an existing retail store or wholesale operation upgrade to offer an expanded range of Healthy Food choices, or supporting a nonprofit organization that expands the availability of Healthy Foods in underserved areas.

b. Recipient must demonstrate that it has closed Financial Products to Healthy Food Retail Outlets located in Low-Income and Low-Access Food Areas in the Recipient's approved Target Market in an amount equal to 75% of the total HFFI Financial Assistance provided.

Definitions:

Healthy Foods: Healthy Foods include unprepared nutrient-dense foods and beverages as set forth in the USDA Dietary Guidelines for Americans 2020-2025 including whole fruits and vegetables, whole grains, fat free or low-fat dairy foods, lean meats, and poultry (fresh, refrigerated, frozen or canned). Healthy Foods should have low or no added sugars, and be low-sodium, reduced sodium, or no-salt-added. (See USDA Dietary Guidelines: https://www.dietaryguidelines.gov).

Healthy Food Retail Outlets: Commercial sellers of Healthy Foods including, but not limited to, grocery stores, mobile food retailers, farmers markets, retail cooperatives, corner stores, bodegas, stores that sell other food and non-food items along with a range of Healthy Foods.

Healthy Food Non-Retail Outlets: Wholesalers of Healthy Foods including, but not limited to, wholesale food outlets, wholesale cooperatives, or other non-retail food producers that supply for sale a range of Healthy Food options; entities that produce or distribute Healthy Foods for eventual retail sale, and entities that provide consumer education regarding the consumption of Healthy Foods.

Low-Income and Low-Access Food Areas: Distressed geographic areas where either a substantial number or share of residents has low access to a supermarket or large grocery store. For the purpose of satisfying this requirement, a Low-Income and Low-Access Food Area must either: (1) be a census tract determined to be a Low-Income and Low-Access Food Area by the U.S. Department of Agriculture (USDA), in its USDA Food Access Research Atlas; (2) be a census tract adjacent to a census tract determined to be a Low-Income and Low-Access Food Area by the USDA, in its USDA Food Access Research Atlas; which has a median family income less than or equal to 120% of the applicable Area Median Family Income; or (3) be a Geographic Unit as defined in 12 CFR part 1805.201(b)(3)(ii)(B), which (i) individually meets at least one of the criteria in 12 CFR part 1805.201(b)(3)(ii)(D), and (ii) has been identified as having low access to a supermarket or grocery store through a methodology that has been adopted for use by another governmental or philanthropic healthy food initiative.

4. PPC-FA Award: PPC-FA award funds may only be expended for eligible FA activities referenced in table 3. The PPC-FA Recipient must close Financial Products in PPC: (1) in an Eligible Market or in the Applicant's approved Target Market and (2) in an amount equal to or greater than 100% of the total PPC-FA award. The specific counties that meet the criteria for “persistent poverty” can be found at: https://www.cdfifund.gov/​sites/​cdfi/​files/​2024-05/​PPC_​2020_​ACS_​May_​10_​2024.xlsx.

5. HP-FA Award: HP-FA award funds may only be expended for eligible FA activities authorized in table 3. Additionally, HP-FA award funds must comply with the following guidelines:

a. Recipient must close Financial Products that finance the production of rental Housing projects affordable to families making at or below 120% Area Median Income (AMI) and/or the production of Homeownership projects affordable to families making at or below 150% of AMI in an amount equal to or greater than 100% of the total HP-FA assistance provided to the Recipient. The CDFI Fund will prioritize funding Applications that focus on financing Homeownership and rental Housing affordable to families at or below 80% AMI and further income targeting restrictions will be specified in the Assistance Agreement based on the Recipient's Application strategy.

b. Recipient must increase the volume of housing units financed from the baseline period (Recipient's most recent three historic fiscal years) to the Performance Period, as specified in the Assistance Agreement.

c. For rental Housing, the Recipient must finance projects that have a financing gap and are projected to be completed and ready for occupancy by the end of the Period of Performance as evidenced by a certificate of occupancy or equivalent. For Homeownership, the Recipient must finance the development of new for-sale Housing and/or the acquisition and rehabilitation of for-sale Housing, where such Housing will be completed and ready for occupancy by the end of the Period of Performance as evidenced by a certificate of occupancy or equivalent.

Definitions:

Homeownership means ownership interest in a home in fee simple, or by condominium, cooperative, mutual housing, or ground lease title interest, as allowed under State law, in one- to four-unit Single-family housing, or ownership of a manufactured housing unit. The ownership interest is subject to the following additional requirements: (1) Ownership interest may not merely consist of a right of possession under a contract for deed, installment contract, or land contract pursuant to which the deed is not given until the final payment is made; and (2) Ownership interest is subject to the restrictions on affordability permitted under the Assistance Agreement and this part; mortgages, deeds of trust, or other liens or instruments securing debt on the property; or any other restrictions or encumbrances that do not impair the good and marketable nature of title to the ownership interest.

Housing means Single-family and Multi-family residential units including, but not limited to, manufactured housing, permanent supportive housing, single-room occupancy (SRO) housing, assisted living, and group homes that are permanent in nature and not temporary, short term, transitional, or a dormitory, as further set forth by the CDFI Fund.

Multi-family housing means residential properties consisting of five or more dwelling units, such as a condominium unit, cooperative unit, or an apartment. ( print page 6057)

Single-family housing means a one- to four- unit family residence, a condominium unit, a cooperative unit, mutual housing, a manufactured housing unit only, or the combination of a manufactured housing unit and lot.

6. TA Awards: TA award funds may be expended for the following seven eligible activity categories: (i) Compensation—Personal Services; (ii) Compensation—Fringe Benefits; (iii) Professional Service Costs; (iv) Travel Costs; (v) Training and Education Costs; (vi) Equipment; and (vii) Supplies. The TA Budget is the amount of the award and must be expended in the seven eligible activity categories before the end of the Budget Period. None of the eligible activity categories will be authorized for Indirect Costs or an associated Indirect Cost Rate. Any expenses that are prohibited by the Uniform Administrative Requirements are unallowable and are generally found in Subpart E-Cost Principles. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to any Direct Costs. For purposes of this NOFA, the seven eligible activity categories are defined in table 4.

Table 4—TA Eligible Activity Categories, Subject to the Applicable Provisions of the Uniform Administrative Requirements

(i) Compensation-Personal Services	TA paid to cover all remuneration, paid currently or accrued, for services of Applicant's employees rendered during the Period of Performance under the TA award in accordance with section 2 CFR 200.430 of the Uniform Administrative Requirements, is allowed. Any work performed directly but unrelated to the purposes of the TA award may not be paid as Compensation through a TA award. For example, the salaries for building maintenance would not carry out the purpose of a TA award and would be deemed unallowable.
(ii) Compensation—Fringe Benefits	TA paid to cover allowances and services provided by the Applicant to its employees as Compensation in addition to regular salaries and wages, in accordance with section 2 CFR 200.431 of the Uniform Administrative Requirements, is allowed. Such expenditures are allowable as long as they are made under formally established and consistently applied organizational policies of the Applicant.
(iii) Professional Service Costs	TA paid to cover professional and consultant services (e.g., such as strategic and marketing plan development), rendered by persons who are members of a particular profession or possess a special skill (e.g., credit analysis, portfolio management), and who are not officers or employees of the Applicant, in accordance with section 2 CFR 200.459 of the Uniform Administrative Requirements, is allowed. Payment for a consultant's services may not exceed the current maximum of the daily equivalent rate paid to an Executive Schedule Level IV Federal employee. Professional and consultant services must build the capacity of the CDFI. For example, professional services that provide direct Development Services to the customers do not build the capacity of the CDFI to provide those services and would not be eligible. The Applicant must comply, as applicable, with section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to payment of Professional Service Costs.
(iv) Travel Costs	TA paid to cover costs of transportation, lodging, subsistence, and related items incurred by the Applicant's personnel who are on travel status on business related to the TA award, in accordance with section 2 CFR 200.475 of the Uniform Administrative Requirements, is allowed. Travel Costs do not include costs incurred by the Applicant's consultants who are on travel status. Any payments for travel expenses incurred by the Applicant's personnel but unrelated to carrying out the purpose of the TA award would be deemed unallowable. As such, documentation must be maintained that justifies the travel as necessary to the TA award.
(v) Training and Education Costs	TA paid to cover the cost of training and education provided by the Applicant for employees' development, in accordance with section 2 CFR 200.473 of the Uniform Administrative Requirements, is allowed. TA can only be used to pay for training costs incurred by the Applicant's employees. Training and Education Costs may not be incurred by the Applicant's consultants.
(vi) Equipment	TA paid to cover tangible personal property, having a useful life of more than one year and a per-unit acquisition cost of at least $10,000, in accordance with section 2 CFR 200.1 of the Uniform Administrative Requirements, is allowed. For example, items such as office furnishings and information technology systems are allowable as Equipment costs. The Applicant must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to the purchase of Equipment.
(vii) Supplies	TA paid to cover tangible personal property with a per unit acquisition cost of less than $10,000, in accordance with section 2 CFR 200.1 of the Uniform Administrative Requirements, is allowed. For example, a desktop computer costing $1,000 is allowable as a Supply cost. The Applicant must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to the purchase of Supplies.

III. Eligibility Information

A. Eligible Applicants: For the purposes of this NOFA, table 5 through table 8 set forth the eligibility criteria to receive an award from the CDFI Fund, along with certain definitions of terms. There are four categories of Applicant eligibility criteria: (1) CDFI Certification criteria (table 5); (2) requirements that apply to all Applicants (table 6); (3) requirements that apply to TA Applicants (table 7); and (4) requirements that apply to FA Applicants (table 8).

Table 5—CDFI Certification Criteria Definitions

Certified CDFI

An entity that the CDFI Fund has officially notified that it meets all CDFI Certification requirements.

Emerging CDFI (TA Applicants)

• A non-Certified entity that demonstrates to the CDFI Fund in its Application that it has an acceptable plan to meet CDFI Certification requirements by the end of its Period of Performance, or another date that the CDFI Fund selects. • An Emerging CDFI that has prior award(s) must comply with CDFI Certification PG&M(s) stated in its prior Assistance Agreement(s). • An Emerging CDFI selected to receive a TA award will be required to become a Certified CDFI by a date specified in the Assistance Agreement.

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Table 6—Eligibility Requirements for All Applicants

Applicant	• An Applicant must be duly organized as a legal entity (within the United States or its territories). • Only the entity that will carry out the proposed award activities may apply for an award (other than Depository Institution Holding Companies (DIHC)10 —see below). Recipients may not create a new legal entity to carry out the proposed award activities. • The information in the Application should only reflect the activities of the Applicant, including the presentation of financial and portfolio information (other than DIHCs-see below). Do not include financial or portfolio information from parent companies, Affiliates, or Subsidiaries in the Application unless it relates to the provision of Development Services. • An Applicant that applies on behalf of another organization will be rejected without further consideration, other than DIHCs (see below).
Application type and submission overview through Grants.gov and Awards Management Information System (AMIS)	• Applicants must submit the Required Application Documents listed in table 10. • The CDFI Fund will only accept Applications that use the official Application templates provided on the Grants.gov and AMIS websites. Applications submitted with alternative or altered templates will not be considered. • Applicants undergo a two-step process that requires the submission of Application documents by two separate deadlines in two different systems: (1) the SF-424 in Grants.gov and (2) all other Required Application Documents in AMIS. • Grants.gov and the SF-424: o Grants.gov: Applicants must submit the Standard Form (SF) SF-424, Application for Federal Assistance. o All Applicants must register in the Grants.gov system to successfully submit an Application. The Grants.gov registration process can take 30 days or more to complete. The CDFI Fund strongly encourages Applicants to register as early as possible. o The CDFI Fund will not extend the SF-424 application deadline for any Applicant that started the Grants.gov registration process on, before, or after the date of the publication of this NOFA, but did not complete it by the deadline except in the case of a Federal Government administrative or technological error that directly resulted in a late submission of the SF-424. o The SF-424 must be submitted in Grants.gov on or before the deadline listed in table 1. Applicants are strongly encouraged to submit their SF-424 as early as possible in the Grants.gov system. o The deadline for the Grants.gov submission is before the AMIS submission deadline. o The SF-424 must be submitted under the CDFI Program Funding Opportunity Number for the CDFI Program Application. CDFI Program Applicants should be careful to not select the NACA Program Funding Opportunity Number when submitting their SF-424 for the CDFI Program. CDFI Program Applicants that submit their SF-424 for the CDFI Program Application under the NACA Program Funding Opportunity Number will be deemed ineligible for the CDFI Program Application. o If the SF-424 is not accepted by Grants.gov by the deadline, the CDFI Fund will not review any material submitted in AMIS and the Application will be deemed ineligible. • AMIS and all other Required Application Documents listed in table 10: o AMIS is an enterprise-wide information technology system. Applicants will use AMIS to submit and store organization and Application information with the CDFI Fund. o Applicants are only allowed one CDFI Program Application submission in AMIS. o Each Application in AMIS must be signed by an Authorized Representative. o Applicants must ensure that the Authorized Representative is an employee or officer of the Applicant, authorized to sign legal documents on behalf of the organization. Consultants working on behalf of the organization may not be designated as Authorized Representatives. o Only the Authorized Representative or Application Point of Contact, included in the Application, may submit the Application in AMIS. o All Required Application Documents must be submitted in AMIS on or before the deadline specified in table 1. The CDFI Fund will not extend the deadline for any Applicant except in the case of a Federal Government administrative or technological error that directly resulted in the late submission of the Application in AMIS.
Employer Identification Number (EIN)	• Applicants must have a unique EIN assigned by the Internal Revenue Service (IRS). • The CDFI Fund will reject an Application submitted with the EIN of a parent or Affiliate organization. • The EIN in the Applicant's AMIS account must match the EIN in the Applicant's System for Award Management (SAM) account. The CDFI Fund reserves the right to reject an Application if the EIN in the Applicant's AMIS account does not match the EIN in its SAM account. • Applicants must enter their EIN into their AMIS profile on or before the deadline specified in table 1.
Unique Entity Identifier (UEI)	• The transition from the Dun and Bradstreet Universal Numbering System (DUNS) to UEI is a Federal, government-wide initiative. • An Applicant must apply using its UEI in Grants.gov. • The CDFI Fund will reject an Application submitted with the UEI of a parent or Affiliate organization. • The UEI in the Applicant's AMIS account must match the UEI in the Applicant's Grants.gov and SAM accounts. The CDFI Fund will reject an Application if the UEI in the Applicant's AMIS account does not match the UEI in its Grants.gov and SAM accounts. • Applicants must enter their UEI into their AMIS profile on or before the deadline specified in table 1.
System for Award Management (SAM)	• SAM is a web-based, government-wide application that collects, validates, stores, and disseminates business information about the Federal Government's trading partners in support of the contract awards, grants, and electronic payment processes. • Applicants must register in SAM as part of the Grants.gov registration process. • Applicants that have an active SAM registration have been assigned a UEI. Applicants must also have an EIN in order to register in SAM. • Applicants must be registered in SAM in order to submit an SF-424 in Grants.gov. • The CDFI Fund reserves the right to deem an Application ineligible if the Applicant's SAM account expires during the Application evaluation period, or is set to expire before September 30, 2025, and the Applicant does not re-activate, or renew, as applicable, the account within the deadlines that the CDFI Fund communicates to affected Applicants during the Application evaluation period.
AMIS Account	• Each Applicant must register as an organization in AMIS and submit all Required Application Documents listed in table 10 through the AMIS system. • The Application of any organization that does not properly register in AMIS by the deadline set forth in table 1—FY 2025 CDFI Program Funding Round Critical Deadlines for Applicants—will be rejected without further consideration. • The Authorized Representative and/or Application Point of Contact must be included as “users” in the Applicant's AMIS account. • An Applicant that fails to properly register and update its AMIS account may miss important communication from the CDFI Fund and/or may not be able to successfully submit an Application.
501 (c)(4) status	• Pursuant to 2 U.S.C. 1611, any 501(c)(4) organization that engages in lobbying activities is not eligible to receive a CDFI or NACA Program award.
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Compliance with Nondiscrimination and Equal Opportunity Statutes, Regulations, and Executive Orders	• An Applicant* may not be eligible to receive an award if proceedings have been instituted against it in, by, or before any court, governmental agency, or administrative body, and a final determination has been issued within the time period beginning three years prior to the publication of this NOFA until the execution of the Assistance Agreement that indicates the Applicant has violated any Federal civil rights laws or regulations, including: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C. 2000d); the Fair Housing Act (42 U.S.C. 3601 et seq.); the Equal Credit Opportunity Act (15 U.S.C. 1691 et seq.); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); and the Age Discrimination Act of 1975, (42 U.S.C. 6101-6107). • Applicants* will be required to submit the Title VI Compliance Worksheet (Worksheet) once annually to assist the CDFI Fund in determining whether Applicants are compliant with the Treasury regulations implementing Title VI of the Civil Rights Act (Title VI), set forth in 31 CFR part 22. These requirements are set forth in the United States Department of the Treasury regulations implementing Title VI located in 31 CFR part 22, Nondiscrimination on the Basis of Race, Color, or National Origin in Programs or Activities Receiving Federal Financial Assistance from the Department of the Treasury. • In addition, an Applicant* must be compliant with Federal civil rights requirements in order to be deemed eligible to receive an award from the CDFI Fund. The CDFI Fund will consider an Application submitted by an Applicant that has pending Title VI noncompliance issues, if the CDFI Fund has not yet made a final compliance determination. • The Title VI Compliance Worksheet and program award terms and conditions do not impose antidiscrimination requirements on Tribal governments beyond what would otherwise apply under Federal law.
Depository Institution Holding Company Applicant	• In the case where a Depository Institution Holding Company Applicant intends to carry out the activities of an award through its Subsidiary Insured Depository Institution, the Application must be submitted by the Depository Institution Holding Company and reflect the activities and financial performance of the Subsidiary Insured Depository Institution. • If a Depository Institution Holding Company and its Subsidiary Insured Depository Institution (through which it will carry out the activities of the award) both apply for an award under this NOFA, only the Depository Institution Holding Company will receive an award, not both. In such instances, the Subsidiary Insured Depository Institution will be deemed ineligible. • Authorized Representatives of both the Depository Institution Holding Company and the Subsidiary Insured Depository Institution must certify that the information included in the Application represents that of the Subsidiary Insured Depository Institution, and that the award funds will be used to support the Subsidiary Insured Depository Institution for the eligible activities outlined in the Application.
Use of award	• All awards made through this NOFA must be used to support the Applicant's activities in at least one of the FA or TA Eligible Activity Categories (see Section II. (C)). • With the exception of Depository Institution Holding Company Applicants, awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, third-party entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund's prior written consent. • The Recipient of any award made through this NOFA must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to any Direct Costs.
Requested award amount	• An Applicant must state its requested award amount in the Application in AMIS. An Applicant that does not include this amount will not be allowed to submit an Application.
Pending resolution of noncompliance or default	• If an Applicant (or Affiliate of an Applicant identified in AMIS) that is a prior Recipient or Allocatee under any CDFI Fund program: (i) has demonstrated it is in noncompliance with or default of a previous Assistance Agreement, Award Agreement, Allocation Agreement, Bond Loan Agreement, or Agreement to Guarantee and (ii) the CDFI Fund has yet to make a final determination as to whether the entity is in noncompliance with or default of its previous agreement, the CDFI Fund will consider the Applicant's Application under this NOFA pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance or default.
Noncompliance or default status	• The CDFI Fund will not consider an Application submitted by an Applicant that is a prior CDFI Fund award recipient or allocatee under any CDFI Fund program if, as of the AMIS Application deadline in this NOFA, (i) the CDFI Fund has made a final determination in writing that such Applicant (or Affiliate of an Applicant identified in AMIS)is in noncompliance with or default of a previously executed Assistance Agreement, Award Agreement, Allocation Agreement, bond loan agreement, or agreement to guarantee, and (ii) the CDFI Fund has provided written notification that the Applicant is ineligible to apply for or receive any future CDFI Fund awards or allocations. Such entities will be ineligible to submit an Application for such time period as specified by the CDFI Fund in writing. • Additionally, regardless of whether a sanction or remedy is imposed, the CDFI Fund will not consider an Application submitted by an Applicant if the default on a prior Allocation Agreement of the Applicant or an Affiliate occurs during the time period beginning 12 months prior to the Application deadline and ending with the FY 2025 award announcement. • The CDFI Fund will not consider any Applicant that has defaulted on a loan from the CDFI Fund within five years of the Application deadline.
Debarment/Do Not Pay Verification	• The CDFI Fund will contact the Do Not Pay Business Center to conduct a debarment check on the Applicant. The CDFI Fund will not consider any Applicant that is debarred. • If the Do Not Pay Business Center reports that the Applicant has a pending or delinquent debt to the Federal Government, the Applicant will be required to demonstrate that it has resolved such pending or delinquent debt. Applicants that fail to demonstrate resolution of the pending or delinquent Federal debt will be found ineligible to receive an award. • In the case where a Depository Institution Holding Company Applicant intends to carry out the activities of an award through its Subsidiary Insured Depository Institution, the above debarment requirements apply both to the Depository Institution Holding Company and its Subsidiary Insured Depository Institution. • The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal Government.
* This requirement also applies to Subsidiary Insured Depository Institutions that will carry out award activities on behalf of Depository Institution Holding Company Applicants.

 

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Table 7—Eligibility Requirements for TA Applicants

CDFI Certification status	(1) Emerging CDFIs (see definition in table 5), or (2) Certified CDFIs (see table 5) that meet the following SECA Applicant criteria: (a) Have total assets as of the end of the Applicant's most recent historic fiscal year in accordance with the TA Application Guidance (as stated in the Applicant's AMIS account and verified by internally prepared financial statements and/or audits) in the following amounts: • Insured Depository Institutions and Depository Institution Holding Companies: up to $250 million; • Insured Credit Unions and State-Insured Credit Unions: up to $100 million; • Venture Capital Funds**: up to $5 million; • Other CDFIs: up to $5 million;  OR (b) Have begun operations (as indicated by the financing activity start date field in the Applicant's AMIS account) on or after January 1, 2021. If a TA Applicant is a Certified CDFI at the time of Application but loses its CDFI Certification at any point prior to the award announcement, the Application will be deemed ineligible and no longer be considered for an award by the CDFI Fund.
Matching Funds	• Matching Funds documentation is not required for TA awards.
Limitation on Awards	• An Emerging CDFI may not receive a TA award if it has previously received three or more TA awards in the preceding ten fiscal years.
$5 Million funding cap	• The CDFI Fund is prohibited from obligating more than $5 million in CDFI and NACA Program awards, in the aggregate, to any one organization and its Subsidiaries and Affiliates during any three-year period from the announcement date. • The CDFI Fund will include CDFI and NACA Program final awards in the cap calculation that were provided to an Applicant (and/or its Subsidiaries or Affiliates) under the FY 2024 funding round, as well as the requested FY 2025 award. The $5 million funding cap includes TA, Base-FA, PPC-FA, and HP-FA awards, but excludes DF-FA and HFFI-FA awards.
Proposed Activities	• Applicants must propose to directly undertake eligible activities with TA awards. For example, an uncertified CDFI Applicant must propose to become Certified as part of its Application and a Certified CDFI Applicant must propose activities that build its capacity to serve its Target Market or an Eligible Market. • Applicants may not propose to use a TA award to create a separate legal entity to become a Certified CDFI or otherwise carry out the TA award activities.
Regulated Institution	• Each Regulated Institution TA Applicant must have a CAMELS/CAMEL rating (rating for Insured Depository Institutions and Credit Unions, respectively) or equivalent type of rating by its regulator (collectively referred to as “CAMELS/CAMEL rating”) of at least “4.” • TA Applicants with CAMELS/CAMEL ratings of “5” will not be eligible for awards. • In the case of a Depository Institution Holding Company Applicant that intends to carry out the award through a Subsidiary Insured Depository Institution, the CAMELS/CAMEL rating eligibility requirements noted above apply to both the Depository Institution Holding Company Applicant, as well as the Subsidiary Insured Depository Institution. • The CDFI Fund will not approve a TA award for an Insured Depository Institution Applicant that has a Community Reinvestment Act (CRA) assessment rating of below “Satisfactory” on its most recent examination. • In the case of a Depository Institution Holding Company Applicant that intends to carry out the award through a Subsidiary Insured Depository Institution, the CDFI Fund will not approve a TA award if the Subsidiary Insured Depository Institution has a Community Reinvestment Act (CRA) assessment rating of below “Satisfactory” on its most recent examination. • The CDFI Fund will also evaluate material concerns identified by the Appropriate Federal Banking Agency in determining the eligibility of Regulated Institution Applicants.
** A Venture Capital Fund is an organization that predominantly invests funds in businesses, typically in the form of either Equity Investments or subordinated debt with equity features such as a revenue participation or warrants, and generally seeks to participate in the upside returns of such businesses in an effort to at least partially offset the risk of its investments.

Table 8—Eligibility Requirements for FA Applicants

CDFI Certification status	• Each FA Applicant must be a Certified CDFI as of the publication date of this NOFA in the Federal Register . • In the case of a Depository Institution Holding Company Applicant that intends to carry out the award through a Subsidiary Insured Depository Institution, both the Depository Institution Holding Company and its Subsidiary Insured Depository Institution must be Certified CDFIs as of the publication date of this NOFA in the Federal Register . • The CDFI Fund will consider an Application submitted by an Applicant that has pending noncompliance issues with its Annual Certification and Data Collection Report (ACR) if the CDFI Fund has not yet made a final compliance determination. • If a Certified CDFI loses its CDFI Certification at any point prior to the award announcement, the Application will be deemed ineligible and no longer be considered for an award by the CDFI Fund.
Matching Funds documentation	• Native American CDFIs are not required to provide Matching Funds. • Applicants that are required to submit Matching Funds (see table 9) must submit acceptable documentation attesting that they have received or will receive Matching Funds. Applicants that do not complete the Matching Funds section in the FA Application in AMIS, documenting the source(s) of their Matching Funds, will not be evaluated. See table 9 for additional information on Matching Funds requirements for FY 2025 Funding Round. The Matching Funds requirement for Category I (SECA) FA Applicants and HFFI-FA Applicants was waived in the final FY 2024 appropriations, and the final FY 2025 appropriations are still pending. Therefore HFFI-FA and SECA FA applicants are not required to submit Matching Funds for their award requests at the time of Application. However, the CDFI Fund reserves the right to request Matching Funds from Category I (SECA) FA and HFFI-FA Applicants if Matching Funds are not waived in the final FY 2025 CDFI Program appropriations. Category II (Core) FA Applicants must document their Matching Funds in the Matching Funds section in the FA Application in AMIS. Matching Funds information provided in another format will not be considered. • Unless Congress waives the Matching Funds requirement, awards will be limited to no more than two times the amount of In-Hand or Committed Matching Funds documentation provided at the time of Application (or for Category I (SECA) FA and HFFI-FA Applicants, upon request if applicable). See table 9 for the definitions of Committed and In-Hand. • Unless Congress waives the Matching Funds requirement, awards will be obligated in like form to the Matching Funds provided at time of Application (or for Category I (SECA) FA and HFFI-FA Applicants, upon request if applicable). See table 9. Matching Funds “Determination of Award Form” for additional guidance. • Unless Congress waives the Matching Funds requirement, award payments from the CDFI Fund will require eligible dollar-for-dollar In-Hand Matching Funds for the total payment amount. Recipients will not receive a payment until 100% of their Matching Funds are In-Hand. • Unless Congress waives the Matching Funds requirement, the CDFI Fund will reduce and de-obligate the remaining balance of any award that does not demonstrate full dollar-for-dollar Matching Funds equal to the announced award amount by the end of the Matching Funds Window.
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Consideration as a Native American CDFI	• For consideration as a Native American CDFI under this NOFA, an FA Applicant must Primarily Serve a Native Community. Primarily Serves is defined as 50% or more of an Applicant's activities being directed to a Native Community. • For purposes of this NOFA, a Native Community is defined as Native American, Alaska Native, or Native Hawaiian populations or Native American areas defined as federally-designated reservations, Hawaiian homelands, Alaska Native Villages and U.S. Census Bureau-designated Tribal Statistical Areas. • Applicants that do not meet the above conditions will not be considered as a Native American CDFI under this NOFA. • The Indian Community Economic Enhancement Act of 2020 (Pub. L. 116-261) permanently waived the Matching Funds requirements for Native American CDFIs. Therefore, if the CDFI Fund determines that a Category II (Core) FA Applicant that attests in its Application to meeting the above conditions does not meet the criteria to be considered a Native American CDFI, the Application will be deemed ineligible for failure to provide Matching Funds.
$5 Million funding cap	• The CDFI Fund is prohibited from obligating more than $5 million in CDFI and NACA Program awards, in the aggregate, to any one organization and its Subsidiaries and Affiliates during any three-year period from the announcement date. • The CDFI Fund will include CDFI and NACA Program final awards in the cap calculation that were awarded to an Applicant (and/or its Subsidiaries or Affiliates) under the FY 2024 funding round, as well as the requested FY 2025 award. The $5 million funding cap includes TA, Base-FA, PPC-FA, and HP-FA awards but excludes DF-FA and HFFI-FA awards.
FA Category I (SECA)	• To be an eligible SECA Applicant, an Applicant must meet the following criteria: (1) Be a Certified CDFI as defined in table 5; (2) Request $700,000 or less in Base-FA award funds; AND EITHER (3) Have total assets as of the end of the Applicant's most recent historic fiscal year in accordance with the FA Application Guidance (as stated in the Applicant's AMIS account and verified by internally prepared financial statements and/or audits) in the following amounts: • Insured Depository Institutions and Depository Institution Holding Companies: up to $250 million; • Insured Credit Unions and State-Insured Credit Unions: up to $100 million; • Venture Capital Funds: up to $5 million; • Other CDFIs: up to $5 million; OR • Have begun operations (as indicated by the financing activity start date field in the Applicant's AMIS account) on or after January 1, 2021.
FA Category II (Core)	• A Core Applicant must be a Certified CDFI as defined in table 5. • An Applicant that meets the SECA requirements stated above, and that requests more than $700,000 in Base-FA award funds is categorized as an FA Category II (Core) Applicant, regardless of its total assets and/or years in operation. • Such Applicants who meet SECA requirements but wish to apply as a Core FA Applicant by requesting more than $700,000 must elect to apply as a Core Applicant upon Application launch in AMIS. The CDFI Fund will not change the Application type (Core FA or SECA FA) after the Application has been launched by the Applicant.
FA Applicants with Community Partners	• A CDFI Applicant can apply for assistance jointly with a Community Partner. The CDFI Applicant must complete the CDFI Program Application and address the Community Partnership in its business plan and other sections of the Application as specified in the Application materials. • The CDFI Applicant must be a Certified CDFI as defined in table 5. • An Application with a Community Partner must: o Describe how the CDFI Applicant and Community Partner will each participate in the partnership and how the partnership will enhance eligible activities serving the Investment Area and/or Targeted Population. o Demonstrate that the Community Partnership activities are consistent with the strategic plan submitted by the CDFI Applicant. • Assistance provided upon approval of an Application with a Community Partner shall only be entrusted to the CDFI Applicant and shall not be used to fund any activity carried out directly by the Community Partner or an Affiliate or Subsidiary thereof. • Applicants for HP-FA only (with no Base-FA request) are not eligible to apply with a Community Partner. Only Certified CDFIs may apply for HP-FA only (with no Base-FA request).
Regulated Institution	• Each Regulated Institution FA Applicant must have a CAMELS/CAMEL rating (rating for Insured Depository Institutions and Credit Unions, respectively) or equivalent type of rating by its regulator (collectively referred to as “CAMELS/CAMEL rating”) of at least “3.” • FA Applicants with CAMELS/CAMEL ratings of “4” or “5” will not be eligible for awards. • In the case of a Depository Institution Holding Company Applicant that intends to carry out the award through a Subsidiary Insured Depository Institution, the CAMELS/CAMEL rating eligibility requirements noted above apply to both the Depository Institution Holding Company Applicant, as well as the Subsidiary Insured Depository Institution. • The CDFI Fund will not approve an FA award for an Insured Depository Institution Applicant that has a Community Reinvestment Act (CRA) assessment rating of below “Satisfactory” on its most recent examination. • In the case of a Depository Institution Holding Company Applicant that intends to carry out the award through a Subsidiary Insured Depository Institution, the CDFI Fund will not approve an FA award if the Subsidiary Insured Depository Institution has a Community Reinvestment Act (CRA) assessment rating of below “Satisfactory” on its most recent examination. • The CDFI Fund will also evaluate material concerns identified by the Appropriate Federal Banking Agency in determining the eligibility of Regulated Institution Applicants.
PPC-FA	• All PPC-FA Applicants must: o Submit a CDFI or NACA Program FA Application; o Meet all FA award eligibility requirements; o Submit the PPC-FA Application; and o Provide a PPC-FA award request amount in AMIS.
DF-FA	• All DF-FA Applicants must: o Submit a CDFI or NACA Program FA Application; o Meet all FA award eligibility requirements; o Submit the DF-FA Application; and o Provide a DF-FA award request amount in AMIS.
HFFI-FA	• All HFFI-FA Applicants must: o Submit a CDFI or NACA Program FA Application; o Meet all FA award eligibility requirements; o Submit the HFFI-FA Application; and o Provide a HFFI-FA award request amount in AMIS.
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HP-FA	• Applicants applying for only HP-FA (with no Base-FA request) must: o Submit a CDFI or NACA Program FA Application; o Meet all FA award eligibility requirements; o Indicate intention to apply for only HP-FA in the CDFI or NACA Program FA Application; o Submit the Excel HP-FA Application; o Have a track record of having financed Housing in each of the last 3 historic fiscal years; and o Provide an HP-FA award request amount. • Applicants applying for HP-FA as a supplement to Base-FA request must: o Submit a CDFI or NACA Program FA Application; o Meet all FA award eligibility requirements; o Indicate intention to apply for both a Base-FA award and an HP-FA award in the CDFI Program or NACA Program FA Application; o Submit the Excel HP-FA Application; o Have a track record of having financed Housing in each of the last 3 historic fiscal years; and o Provide an HP-FA award request amount.

B. Matching Funds Requirements: In order to receive a Base-FA, PPC-FA, or DF-FA award, an Applicant must provide evidence of eligible dollar-for-dollar Matching Funds and attest that it can provide acceptable documentation upon the CDFI Fund's request as part of the Application, unless Congress waives the Matching Funds requirement. The Matching Funds requirement was permanently waived for Native American CDFIs. Therefore, Native American CDFI Applicants are not required to submit Matching Funds for their award requests. HP-FA Applicants are not required to submit Matching Funds for their HP-FA award requests. The Matching Funds requirement was waived for Category I (SECA) FA Applicants and HFFI-FA Applicants in the final appropriations bill for FY 2024, and the final FY 2025 appropriations are still pending for this funding round. As a result, Category I (SECA) FA Applicants and HFFI-FA Applicants are not required to submit Matching Funds for their award requests at the time of Application. However, the CDFI Fund reserves the right to request Matching Funds from Category I (SECA) FA Applicants and HFFI-FA Applicants if Matching Funds are not waived in the final FY 2025 CDFI Program appropriations. An Applicant that represents that it has Equity Investments and/or deposits Matching Funds In-Hand at the time of Application submission must provide documentation of such as part of the Application (or for Category I (SECA) FA and HFFI-FA Applicants, upon request if applicable). An Applicant that uses retained earnings as Matching Funds must provide supporting documentation of In-Hand and/or Committed Matching Funds at the time of Application submission. The CDFI Fund will review Matching Funds information, attestations, and supporting Matching Funds documentation, if applicable, prior to award payment and will pay award funds to a Recipient based upon eligible In-Hand Matching Funds. The CDFI Fund encourages Applicants to review the Regulations, the Uniform Administrative Requirements, and the Matching Funds guidance materials available on the CDFI Fund's website. Table 9 provides a summary of the Matching Funds requirements for Applicants for whom Matching Funds are required. The Matching Funds requirement for Native American CDFIs is permanently waived. Additional details are set forth in the Application materials.

Table 9—Matching Funds Requirements *

In-Hand Matching Funds definition	• Matching Funds are In-Hand when the Applicant receives payment for the Matching Funds from the Matching Funds source and has acceptable documentation that can be provided to the CDFI Fund upon request. Acceptable In-Hand documentation must show the source, form (e.g., grant, loan, deposit, and Equity Investment), amount received, and the date the funds came into physical possession of the Applicant. • The following documentation, depending on the Matching Funds type, must be provided to the CDFI Fund upon request: • loan—the loan agreement and/or promissory note; • grant—the grant letter or agreement; • Equity Investment—the stock certificate, documentation of total equity outstanding, and shareholder agreement; • retained earnings—Retained Earnings Calculator and audited financial statements or call reports from regulating entity for each fiscal year reported in the Retained Earnings Calculator; • third party in-kind contribution- evidence of receipt of contribution and valuation; • deposits—certificates of deposit agreement; • secondary capital—secondary capital agreement and disclosure and acknowledgement statement; AND • clearly legible documentation that demonstrates actual receipt of the Matching Funds including the date of the transaction and the amount, such as a copy of a check or a wire transfer statement. • Unless Congress waives the Matching Funds requirement, Applicants must provide information on their In-Hand Matching Funds in the Matching Funds section of the FA Application in AMIS (refer to table 10—Required Application Documents) at the time of Application submission. • Although Applicants are not required to provide further documentation for In-Hand Matching Funds at the time of Application submission (other than supporting documentation for retained earnings, deposits, and Equity Investments, which must be provided at the time of Application submission), they must be able to provide documentation to the CDFI Fund upon request.
Matching Funds requirements by Application type	The following Applicants must provide evidence of acceptable Matching Funds at the time of Application: • Category II/Core FA Applicants, with the exception of Native American CDFIs, applying for Base-FA, PPC-FA, and DF-FA. The CDFI Fund reserves the right to request Matching Funds from Category I (SECA) FA Applicants and HFFI-FA Applicants if Matching Funds are not waived in the final FY 2025 CDFI Program appropriations. TA Applicants and Native American CDFI FA Applicants are not required to provide Matching Funds. Matching Funds are also not required for award requests under HP-FA.
Amount of required match	Unless waived by Congress, Applicants must provide evidence of eligible, In-Hand, dollar-for-dollar, non-Federal Matching Funds for every award dollar to be paid by the CDFI Fund. If awarded, Applicants that do not demonstrate 100% In-Hand Matching Funds at the time of Application submission may experience a longer payment timeline.
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Determination of award form	Unless the Matching Funds requirement is waived by Congress, awards will be made in comparable form and value to the eligible In-Hand and/or Committed Matching Funds submitted by the Applicant. For awards where Congress has waived the Matching Funds requirement, the form of the award will be a grant. • For example, if an Applicant provides documentation of eligible loan Matching Funds for $200,000 and eligible grant Matching Funds of $400,000, the CDFI Fund will obligate $200,000 of the FA award as a loan and $400,000 as a grant. • The CDFI Fund will not permit a Recipient to change the form of a loan award.
For awards where Congress waives the Matching Funds requirement, the form of the award will be a grant
Matching Funds Window definition	• The Applicant must receive eligible In-Hand Matching Funds between January 1, 2023 and January 15, 2026. • A Recipient must provide the CDFI Fund with all documentation demonstrating the receipt of In-Hand Matching Funds by January 31, 2026 or a later date as specified by the CDFI Fund.
Matching Funds and form of award	• Recipients will be approved for a maximum award size of two times the total amount of eligible In-Hand and/or Committed Matching Funds included in the Application (or for Category I (SECA) FA and HFFI-FA Applicants, upon request if applicable), so long as they do not exceed the requested award amount. • The form of the Matching Funds documented in the Application determines the form of the award.
Committed Matching Funds definition	• Matching Funds are Committed when the Applicant has entered into or received a legally binding commitment from the Matching Funds source demonstrating that the Matching Funds will be disbursed to the Applicant at a future date. • The Applicant must provide information on their Committed Matching Funds in the Matching Funds section of the FA Application in AMIS (refer to table 10—Required Application Documents) at the time of Application submission. • Although the Applicant is not required to provide further documentation for Committed Matching Funds at the time of Application submission (other than supporting documentation for retained earnings, deposits, and Equity Investments, which must be provided at the time of Application submission), it must be able to provide the CDFI Fund, upon request, acceptable written documentation showing the source, form, and amount of the Committed Matching Funds (including, in the case of a loan, the terms thereof), as well as the anticipated payment date of the Committed Matching Funds.
Limitations on Matching Funds	• Matching Funds must be from non-Federal sources. • Applicants cannot proffer Matching Funds that were accepted as Matching Funds for a prior award that required Matching Funds under the CDFI Program, NACA Program, or under another Federal grant or award program. • Matching Funds must comply with the Regulations. • The Matching Funds source(s) must support at least one of the eligible FA activities (see Section II (C) of this NOFA).
Rights of the CDFI Fund	• The CDFI Fund reserves the right to contact the Matching Funds source to discuss the Matching Funds and the documentation that the Applicant provided. • The CDFI Fund may grant an extension of the Matching Funds Window (defined in table 9), on a case-by-case basis, if the CDFI Fund deems it appropriate. • The CDFI Fund reserves the right to rescind all or a portion of an award requiring Matching Funds and re-allocate the rescinded award amount to other qualified Applicant(s) if a Recipient fails to provide evidence of In-Hand Matching Funds obtained during the Matching Funds Window totaling its award amount.
Matching Funds in the form of third-party in-kind contributions	• Third party in-kind contributions are non-cash contributions (i.e., property or services) provided by non-Federal third parties to the Applicant. • Third party in-kind contributions will be deemed in the form of a grant for Matching Funds purposes. • Third party in-kind contributions may be in the form of real property, equipment, supplies, and other expendable property. The value of goods and services must directly benefit the eligible FA activities. • For third party in-kind contributions, the fair market value of goods and services must be documented as the grant match. • Applicants will be responsible for documenting the value of all in-kind contributions pursuant to the Uniform Administrative Requirements.
Matching Funds in the form of a loan	• An award made in the form of a loan will have the following standardized terms: i. A 13-year term with semi-annual interest-only payments due in years 1 through 10, and fully amortizing payments due each year in years 11 through 13; and ii. A fixed interest rate of 4.04%, which was calculated by the CDFI Fund based on the U.S. Department of the Treasury's 10-year Treasury note. • The Applicant's Matching Funds loan(s) must: i. have a minimum of a 3-year term (loans presented as Matching Funds with less than a 3-year term will not qualify as eligible match); and ii. be from a non-Federal source.
Matching Funds in the form of Equity Investments	• An Equity Investment source must meet the terms outlined in 12 CFR 1805.401(a): Equity: The CDFI Fund may make non-voting equity investments in a Recipient, including, without limitation, the purchase of non-voting stock. Such stock shall be transferable and, in the discretion of the CDFI Fund, may provide for convertibility to voting stock upon transfer. The CDFI Fund shall not own more than 50 percent of the equity of a Recipient and shall not control its operations. • The CDFI Fund's ownership of equity is calculated by dividing the shares owned by the CDFI Fund by the total number of shares issued by the Recipient. • The CDFI Fund reserves the right, in its sole discretion, to perform its own valuation of Equity Investment source(s) and to determine if the equity value is acceptable to the CDFI Fund.
Severe Constraints Waiver	• In the case of an Applicant demonstrating severe constraints on available sources of Matching Funds, the CDFI Fund, in its sole discretion, may provide a Severe Constraints Waiver, which permits such Applicant to comply with the Matching Funds requirements by reducing such requirements by up to 50%. • In order to be considered eligible for a Severe Constraints Waiver, an Applicant must meet all of the SECA eligibility criteria described in table 8. Instructions for requesting a Severe Constraints Waiver will be made available if required. • No more than 25% of the total funds available for obligation under this funding round may qualify for a Severe Constraints Waiver.
Ineligible Matching Funds	• Applicants will not be given the opportunity to correct or amend the Matching Funds information included in the FA Application after Application submission if the CDFI Fund determines that any portion of the Applicant's Matching Funds is ineligible.
Use of Matching Funds from a prior CDFI Program Recipient	If an Applicant offers Matching Funds documentation from an organization that was a prior Recipient under the CDFI Program or NACA Program, the Applicant must be able to prove to the CDFI Fund's satisfaction that such funds do not consist, in whole or in part, of CDFI Program funds, NACA Program funds, or other Federal funds.
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Matching Funds in the form of retained earnings	• Retained earnings are eligible for use as Matching Funds in an amount equal to the CDFI Fund's calculation of: i. the increase in retained earnings that occurred over any one of the Applicant's fiscal years within the Matching Funds Window; or ii. the annual average of such increases that occurred over any three consecutive fiscal years of the Applicant with at least one of the fiscal years occurring within the Matching Funds Window. • Any increases as measured in (i) and (ii) will be adjusted to remove revenue and expenses derived from Federal sources and Matching Funds used for prior Federal awards. • Retained earnings will be matched in the form of a grant. • Depository Institution Holding Company Applicants must provide call reports for the Depository Institution Holding Company in order to verify their retained earnings, even if the requested award will support its Subsidiary Insured Depository Institution.
Special rule for Regulated Institutions	• A Regulated Institution's retained earnings are eligible for use as Matching Funds in an amount equal to the CDFI Fund's calculation of: i. the increase in retained earnings that occurred over any one of the Applicant's fiscal years within the Matching Funds Window; or ii. the annual average of such increases that occurred over any three consecutive fiscal years of the Applicant with at least one of the fiscal years occurring within the Matching Funds Window; or iii. the entire retained earnings that have been accumulated since the inception of the Applicant, as provided in the Regulations. • Any increases as measured in (i) and (ii) will be adjusted to remove revenue and expenses derived from Federal sources and Matching Funds used for prior Federal awards. • If option (iii) is used for Insured Credit Unions or State-Insured Credit Unions, the Applicant must increase its member and/or non-member shares and/or total loans outstanding by an amount equal to the amount of retained earnings committed as Matching Funds. • This increase (1) will be measured on a quarterly basis from March 31, 2025; (2) must occur by December 31, 2026; and (3) will be based on amounts reported in the Applicant's National Credit Union Administration (NCUA) form 5300 Call Report, or equivalent. • The CDFI Fund will assess the likelihood of this increase during the Application review process. • An award will not be made to any Applicant that has not demonstrated in the relevant NCUA form 5300 call reports or equivalent that it has increased shares and/or total loans outstanding by at least 25% of the requested FA award amount (including all awards requiring Matching Funds) between December 31, 2023, and December 31, 2024. • The Matching Funds are not In-Hand until the Recipient has increased its member and/or non-member shares, deposits and/or total loans outstanding by the amount of retained earnings since inception that are being used as Matching Funds. • If option (iii) is used for Insured Depository Institutions or Depository Institution Holding Companies, the Applicant, or its Subsidiary Insured Depository Institution (in the case of a Depository Institution Holding Company), must increase deposits and/or total loans outstanding by an amount equal to the amount of retained earnings committed as Matching Funds. Depository Institution Holding Company Applicants must use the call reports of the Subsidiary Insured Depository Institution that the requested FA award will support. • This increase (1) will be measured on a quarterly basis from March 31, 2025; (2) must occur by December 31, 2026; and (3) will be based on amounts reported in the call report. • The CDFI Fund will assess the likelihood of this increase during the Application review process. • An award will not be made to any Applicant that has not demonstrated in the relevant call reports that it has increased deposits and/or total loans outstanding by at least 25% of the requested FA award amount (including all awards requiring Matching Funds) between December 31, 2023, and December 31, 2024. • The Matching Funds are not In-Hand until the Recipient has increased its deposits and/or total loans outstanding by the amount of retained earnings since inception that are being used as Matching Funds. • All regulated Applicants utilizing the option (iii) should refer to the Retained Earnings Guidance included in the Retained Earnings Calculator Excel Workbook found on the CDFI Fund's website.
* The requirements set forth in table 9 are applicable to Category II (Core) FA Applicants, with the exception of Native American CDFIs, applying for Base-FA, PPC-FA, and DF-FA. The Matching Funds requirements were permanently waived for Native American CDFIs. Therefore, the requirements set forth in table 9 are not applicable to Native American CDFI Applicants for the FY 2025 Funding Round. Category I (SECA) FA Applicants and HFFI-FA Applicants are not required to submit Matching Funds at the time of Application submission, but the CDFI Fund reserves the right to request Matching Funds from these Applicants if the Matching Funds requirement is not waived in the final FY 2025 CDFI Program appropriations. Matching Funds are not required for award requests under HP-FA.

IV. Application and Submission Information

A. Address to Request an Application Package: Application materials can be found on the CDFI Fund's website at https://www.cdfifund.gov/​cdfi. Applicants may request a paper version of any Application material by contacting the CDFI Fund Help Desk at [e-mail]. Paper versions of Application materials will only be provided if an Applicant cannot access the CDFI Fund's website.

B. Content and Form of Application Submission: All Applications must be prepared using the English language, and calculations must be computed in U.S. dollars. The following table lists the Required Application Documents for the FY 2025 Funding Round. The CDFI Fund reserves the right to request and review other pertinent or public information that has not been specifically requested in this NOFA or the Application. Information submitted by the Applicant that the CDFI Fund has not specifically requested will not be reviewed or considered as part of the Application. Financial data, portfolio, and activity information provided in the Application should only include the Applicant's activities. Information submitted must accurately reflect the Applicant's activities (other than Depository Institution Holding Companies—see table 6).

Table 10—Required Application Documents

Application documents	Applicant type	Submission format
Active AMIS Account	All Applicants	AMIS.
SF-424	All Applicants	Fillable PDF in Grants.gov.
Title VI Compliance Worksheet *	All Applicants	AMIS.
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CDFI Program Application Components: • Funding Application Detail • Data, Charts, and Narrative sections as listed in AMIS and outlined in Application materials • Matching Funds (FA Core Applicants, with the exception of Native American CDFIs)	All Applicants	AMIS.
PPC-FA Application Components: • Funding Application Detail • Narratives • AMIS Charts	PPC-FA Applicants	AMIS.
DF-FA Application Components: • Funding Application Detail • Narratives • AMIS Charts	DF-FA Applicants	AMIS.
HFFI-FA Application Components: • Funding Application Detail • Narratives • AMIS charts	HFFI-FA Applicants	AMIS.
HP-FA Application Components: The Excel HP-FA Application will not be completed as part of the AMIS Application. The Application component is anticipated to be released at a later date than the other Application components under this NOFA and will be due at a later date, as noted in table 1. Applicants will be provided at least 30 days to complete the Excel HP-FA Application which will be an Excel spreadsheet that contains two sections: • Narratives • Tables	HP-FA Applicants	Attachment to AMIS Service Request.
Attachments to the Application:
Key Staff Resumes	All Applicants	PDF or Word document in AMIS.
Organizational Chart	All Applicants	PDF in AMIS.
Completed, final audited financial statements for the Applicant's Three Most Recent Historic Fiscal Years	FA Applicants and TA Applicants, if available: loan funds, Venture Capital Funds, and other non-Regulated Institutions	PDF in AMIS.
Unaudited financial statements for Applicant's Three Most Recent Historic Years (required if available, and only if audited financial statements are not available)	FA and TA Applicants, if available: loan funds, Venture Capital Funds, and other non-Regulated Institutions	PDF in AMIS.
Community Partnership Agreement	FA Applicants, if applicable	PDF or Word document in AMIS.
Retained Earnings Calculator Excel Workbook (required only if using retained earnings as Matching Funds)	FA Core Applicants, if applicable	Excel Workbook in AMIS. Applicants must submit CDFI Fund-provided template in the original format (.xlsm).
Call reports for each fiscal year reported in the Retained Earnings Calculator	FA Core Applicants: Regulated Institutions that are using retained earnings as Matching Funds	PDF in AMIS.
Equity Investment Matching Funds Documentation	FA Core Applicants: For-profit CDFIs that are using In-Hand Equity Investment(s) as Matching Funds	PDF or Word document in AMIS.
Deposits Matching Funds Documentation	FA Core Applicants: Regulated Institutions that are using In-Hand Deposits as Matching Funds	PDF or Word document in AMIS.
* This requirement also applies to Subsidiary Insured Depository Institutions that will carry out award activities on behalf of Depository Institution Holding Company Applicants.

C. Application Submission: The CDFI Fund has a multiple step process that requires the submission of Required Application Documents (listed in table 10) on separate deadlines and locations. The SF-424 must be submitted through Grants.gov and all other Required Application Documents through the CDFI Fund's Award Management Information System (AMIS). The CDFI Fund will not accept Applications via email, mail, facsimile, or other forms of communication, except in extremely rare circumstances that have been pre-approved in writing by the CDFI Fund. The deadlines for submitting the relevant Application materials are listed in table 1.

First, all Applicants must register in the Grants.gov system to successfully submit the SF-424. The Grants.gov registration process can take 45 days or longer to complete and the CDFI Fund strongly encourages Applicants to start the Grants.gov registration process as early as possible (refer to the following link: https://www.grants.gov/​register). Since the Grants.gov registration process requires Applicants to have a UEI and an EIN, Applicants without these required items should allow for additional time to complete the Grants.gov registration process. The CDFI Fund will not extend the Application deadline for any Applicant that started the Grants.gov registration process but did not complete it by the deadline. An Applicant that has previously registered with Grants.gov must verify that its registration is current and active. Applicants should contact Grants.gov directly with questions related to the registration or submission process as the CDFI Fund does not maintain the Grants.gov system.

Each Application must be signed by a designated Authorized Representative in AMIS before it can be submitted. The Excel HP-FA Application must be submitted via a Service Request in AMIS by an Authorized Representative of the Applicant or an Application Point of Contact. Applicants must ensure that an Authorized Representative is an employee or officer and is authorized to sign legal documents on behalf of the Applicant. Consultants working on behalf of the Applicant may not be designated as Authorized Representatives. Only a designated Authorized Representative or Application Point of Contact, included in the Application, may submit the Application in AMIS. If an AMIS ( print page 6066) Application is not submitted by an Authorized Representative or Application Point of Contact, the Application will be deemed ineligible.

D. Unique Entity Identifier (UEI): The UEI has replaced the Dun and Bradstreet Data Universal Numbering System (DUNS) number. The UEI, generated in the System for Award Management ( SAM.gov), has become the official identifier for doing business with the Federal Government. This transition allows the Federal Government to streamline the entity identification and validation process, making it easier and less burdensome for entities to do business with the Federal Government. If an entity is registered in SAM.gov today, its UEI has already been assigned and is viewable in SAM.gov, including inactive registrations. New registrants will be assigned a UEI as part of their SAM registration.

E. System for Award Management (SAM): Any entity applying for Federal grants or other forms of Federal financial assistance through Grants.gov must be registered in SAM before submitting its Application. When accessing SAM.gov, users will be asked to create a Login.gov user account (if they don't already have one). Going forward, users will use their Login.gov username and password every time when logging into SAM.gov. Registration in SAM is required as part of the Grants.gov registration process. The SAM registration process may take one month or longer to complete. An original, signed notarized letter identifying the authorized entity administrator for the entity associated with the UEI is required. This requirement is applicable to new entities registering in SAM or an existing registration where there is no existing entity administrator. Existing entities with registered entity administrators do not need to submit an annual notarized letter. Applicants without an EIN should allow for additional time as an Applicant cannot register in SAM without an EIN. Applicants that have previously completed the SAM registration process must verify that their SAM accounts are current and active. Each Applicant must continue to maintain an active SAM registration with current information at all times during which it has an active Federal award or an Application under consideration by a Federal awarding agency. The CDFI Fund will deem ineligible any Applicant that fails to properly register or activate its SAM account and, as a result, is unable to submit the SF-424 in Grants.gov or Application in AMIS by the applicable Application deadlines. These restrictions also apply to organizations that have not yet received a UEI or EIN by the established deadline. Applicants must contact SAM directly with questions related to registration or SAM account changes as the CDFI Fund does not maintain this system and has no ability to make changes or correct errors of any kind. For more information about SAM, visit https://www.sam.gov.

Table 11—Grants.gov Registration Timeline Summary

Step	Agency	Estimated minimum time to complete
Obtain an EIN	Internal Revenue Service (IRS)	Two (2) Weeks.*
Register in SAM.gov	System for Award Management ( SAM.gov). This step will include obtaining a UEI.	Four (4) Weeks.*
Register in Grants.gov	Grants.gov	One (1) Week.**
* Applicants are advised that the stated durations are estimates only and represent minimum timeframes. Actual timeframes may take longer. The CDFI Fund will deem ineligible any Applicant that fails to properly register or activate its SAM account, has not yet received a UEI or EIN, and/or fails to properly register in Grants.gov.
** This estimate assumes an Applicant has a UEI, an EIN, and is already registered in SAM.gov.

F. Submission Instructions

1. Submission Deadlines: Table 1 provides the critical deadlines for the FY 2025 Funding Round.

2. Confirmation of Application Submission in Grants.gov and AMIS: Applicants are required to submit the SF-424, Application for Federal Assistance through the Grants.gov system, under the CDFI Program Funding Opportunity Number by the applicable deadline. All other Required Application Documents (listed in table 10) must be submitted through the AMIS website by the applicable deadline. Note, the Excel HP-FA Application will be submitted separately via a Service Request in AMIS by the date specified in table 1. Applicants must submit the SF-424 prior to submitting the Application in AMIS. If the SF-424 is not successfully accepted by Grants.gov by the deadline, the CDFI Fund will not review the Application submitted in AMIS, and the Application will be deemed ineligible.

a. Grants.gov Submission Information: Each Applicant will receive an email from Grants.gov immediately after submitting the SF-424 confirming that the submission has entered the Grants.gov system. This email will contain a tracking number for the submitted SF-424. Within 48 hours, the Applicant will receive a second email, which will indicate if the submitted SF-424 was either successfully validated or rejected with errors. However, Applicants should not rely on the email notification from Grants.gov to confirm that their SF-424 was validated. Applicants are strongly encouraged to use the tracking number provided in the first email to closely monitor the status of their SF-424 by contacting the helpdesk at Grants.gov directly. The Application material submitted in AMIS is not officially accepted by the CDFI Fund until Grants.gov has validated the SF-424.

b. AMIS Submission Information: AMIS is a web-based system where Applicants will directly enter their Application information and add the required attachments listed in table 10. The Base-FA, PPC-FA, DF-FA, HFFI-FA, and TA Application components will all be submitted as part of a single AMIS Application. AMIS will verify that the Applicant provided the minimum information required to submit an Application. Applicants are responsible for the quality and accuracy of the information and attachments included in the Application submitted in AMIS. The Excel HP-FA Application will be a fillable Excel spreadsheet and must be separately submitted as an attachment to a Service Request in AMIS. The CDFI Fund strongly encourages Applicants to allow for sufficient time to review and complete all Required Application Documents listed in table 10 and remedy any issues prior to the Application deadline. Each Application submitted in AMIS must be signed by an Authorized Representative listed in the organization's AMIS account before it can be submitted. Applicants must ensure that the ( print page 6067) Authorized Representative is an employee or officer and is authorized to sign legal documents on behalf of the Applicant. Consultants working on behalf of the Applicant may not be designated as Authorized Representatives. Only an Authorized Representative or an Application Point of Contact may submit an Application. If an Application is not submitted by an Authorized Representative or Application Point of Contact, the Application will be deemed ineligible. Applicants may only submit one Base-FA or TA Application under the CDFI Program. Upon submission, the Application will be locked and cannot be resubmitted, edited, or modified in any way. The CDFI Fund will not unlock or allow multiple Application submissions.

3. Late Submission or AMIS Account Creation: The CDFI Fund will not accept an Application if the SF-424 is not submitted and accepted by Grants.gov by the SF-424 deadline listed in table 1. Additionally, the CDFI Fund will not accept an Application if it is not signed by an Authorized Representative and submitted in AMIS by the Application deadline or if an Applicant did not submit the required Title VI Compliance Worksheet by the Application deadline listed in table 1. The CDFI Fund will also not accept an Application from an Applicant that failed to create an AMIS account by the deadlines specified in table 1. The CDFI Fund will not accept the Excel HP-FA Application if it is not submitted via a Service Request in AMIS by the deadline in table 1. In these cases, the CDFI Fund will not review any material submitted, and the Application will be deemed ineligible.

However, in cases where a Federal Government administrative or technological error directly resulted in precluding an Applicant from submitting the SF-424, from submitting the AMIS Application, from submitting the Excel HP-FA Application, from creating an AMIS account, or from submitting the Title VI Compliance Worksheet by the deadlines stated in this NOFA, Applicants are provided the opportunity to submit a written request for acceptance of late submissions. Be aware that unexpected delay in a Federal Government process does not in and of itself constitute a Federal Government administrative or technological error. The CDFI Fund will only approve the late submission of the SF-424, the AMIS Application, the Excel HP-FA Application, the Title VI Compliance worksheet, or the late creation of an AMIS account if the Applicant demonstrates that an unexpected delay was the direct result of a Federal Government administrative or technological error.

a. Creation of AMIS Account: In cases where a Federal Government administrative or technological error directly resulted in precluding an Applicant from creating an AMIS account by the required deadline, the Applicant must submit a written request for approval to create its AMIS account after the deadline, and include documentation of the error, no later than two business days after the AMIS account creation deadline. The CDFI Fund will not respond to requests for creating an AMIS account after that time. Applicants must submit such request via an AMIS Service Request to the CDFI Program or an email to [e-mail] with a subject line of “AMIS Account Creation Deadline Extension Request.”

b. SF-424 Late Submission: In cases where a Federal Government administrative or technological error directly resulted in precluding an Applicant from submitting the SF-424 by the required deadline, the Applicant must submit a written request for acceptance of the late SF-424 submission and include documentation of the error no later than two business days after the SF-424 deadline. The CDFI Fund will not respond to requests for acceptance of late SF-424 submissions after that time period. Applicants must submit late SF-424 submission requests to the CDFI Fund via an AMIS Service Request to the CDFI Program with a subject line of “Late SF-424 Submission Request.”

c. Title VI Compliance Worksheet Late Submission: In cases where a Federal Government administrative or technological error directly precluded an Applicant from submitting the Title VI Compliance Worksheet by the required deadline, the Applicant must submit a written request for approval to submit the Worksheet after the deadline, and include documentation of the error, no later than two business days after the Title VI Compliance Worksheet submission deadline. The CDFI Fund will not respond to requests for submitting a Title VI Compliance Worksheet after that time. Applicants must submit such request via an AMIS Service Request to the CDFI Program with a subject line of “CDFI Program—Title VI Compliance Worksheet Deadline Extension Request.”

d. AMIS Application Late Submission, including Late Excel HP-FA Application Submission: In cases where a Federal Government administrative or technological error directly resulted in precluding an Applicant from submitting the Application in AMIS by the required deadline, the Applicant must submit a written request for acceptance of the late Application submission and include documentation of the error no later than two business days after the Application deadline. The CDFI Fund will not respond to requests for acceptance of late Application submissions after that time period. Applicants must submit late Application submission requests to the CDFI Fund via an AMIS Service Request to the CDFI Program with a subject line of “Late Application Submission Request.”

G. Funding Restrictions: Base-FA, PPC-FA, DF-FA, HFFI-FA, HP-FA, and TA awards are limited by the following:

1. Base-FA Awards:

a. A Recipient shall use Base-FA award funds only for the eligible activities described in Section II. (C)(1) of this NOFA and its Assistance Agreement.

b. With the exception of Depository Institution Holding Company Applicants, Base-FA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, third-party entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund's prior written consent.

c. Base-FA award funds shall only be paid to the Recipient.

d. The CDFI Fund, in its sole discretion, may pay Base-FA award funds in amounts, or under terms and conditions, which are different from those requested by an Applicant.

e. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to any Direct Costs.

2. PPC-FA Awards:

a. A Recipient shall use PPC-FA award funds only for the eligible activities described in Section II. (C)(5) of this NOFA and its Assistance Agreement.

b. With the exception of Depository Institution Holding Company Applicants, PPC-FA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, third-party entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund's prior written consent.

c. PPC-FA award funds shall only be paid to the Recipient. ( print page 6068)

d. The CDFI Fund, in its sole discretion, may pay PPC-FA award funds in amounts, or under terms and conditions, which are different from those requested by an Applicant.

e. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to any Direct Costs.

3. DF-FA Awards:

a. A Recipient shall use DF-FA award funds only for the eligible activities described in Section II. (C)(2) of this NOFA and its Assistance Agreement.

b. With the exception of Depository Institution Holding Company Applicants, DF-FA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, third-party entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund's prior written consent.

c. DF-FA award funds shall only be paid to the Recipient.

d. The CDFI Fund, in its sole discretion, may pay DF-FA award funds in amounts, or under terms and conditions, which are different from those requested by an Applicant.

e. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to any Direct Costs.

4. HFFI-FA Awards:

a. A Recipient shall use HFFI-FA award funds only for the eligible activities described in Section II. (C)(4) of this NOFA and its Assistance Agreement.

b. With the exception of Depository Institution Holding Company Applicants, HFFI-FA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, third-party entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund's prior written consent.

c. HFFI-FA award funds shall only be paid to the Recipient.

d. The CDFI Fund, in its sole discretion, may pay HFFI-FA award funds in amounts, or under terms and conditions, which are different from those requested by an Applicant.

e. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to any Direct Costs.

5. HP-FA Awards:

a. A Recipient shall use HP-FA award funds only for the eligible activities described in Section II. (C)(5) of this NOFA and its Assistance Agreement.

b. With the exception of Depository Institution Holding Company Applicants, HP-FA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, third-party entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund's prior written consent.

c. HP-FA award funds shall only be paid to the Recipient.

d. The CDFI Fund, in its sole discretion, may pay HP-FA award funds in amounts, or under terms and conditions, which are different from those requested by an Applicant.

e. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to any Direct Costs.

6. TA Awards:

a. A Recipient shall use TA award funds only for the eligible activities described in Section II. (C)(3) of this NOFA and its Assistance Agreement.

b. With the exception of Depository Institution Holding Company Applicants, TA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, third-party entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund's prior written consent.

c. TA award funds shall only be paid to the Recipient.

d. The CDFI Fund, in its sole discretion, may pay TA award funds in amounts, or under terms and conditions, which are different from those requested by an Applicant.

e. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform Administrative Requirements, with respect to any Direct Costs.

V. Application Review Information

A. Criteria: If the Applicant has submitted an eligible Application, the CDFI Fund will conduct a substantive review in accordance with the criteria and procedures described in the Regulations, this NOFA, the Application guidance, and the Uniform Administrative Requirements. The CDFI Fund reserves the right to contact the Applicant by telephone, email, or mail for the purpose of clarifying or confirming Application information. If contacted, the Applicant must respond within the time period communicated by the CDFI Fund or risk that its Application will be rejected. The CDFI Fund will review the Base-FA, DF-FA, PPC-FA, HFFI-FA, HP-FA, and TA Applications in accordance with the process below. All internal and external reviewers will complete the CDFI Fund's conflict of interest process.

1. Base-FA Application Scoring, Award Selection, Review, and Selection Process: The CDFI Fund will evaluate each Application using a five-step review process illustrated in the sections below. Applicants that meet the minimum criteria will advance to the next step in the review process. Applicants applying as a Community Partnership must describe the partnership in the Application pursuant to the requirements set forth in table 8 and will be evaluated in accordance with the review process described below.

a. Step 1: Eligibility Review: The CDFI Fund will evaluate each Application to determine its eligibility status pursuant to Section III of this NOFA.

b. Step 2: Financial Analysis and Compliance Risk Evaluation:

i. Step 2: Financial Analysis: For Regulated Institutions, the CDFI Fund will consider financial safety and soundness information from the Appropriate Federal or State Banking Agency. As detailed in table 8, each Regulated Institution FA Applicant (including a Subsidiary Insured Depository Institution that will expend and carry out the activities of an award on behalf of a Depository Institution Holding Company Applicant) must have a CAMELS/CAMEL rating of at least “3” and/or no significant material concerns from its regulator. Each Insured Depository Institution Applicant and each Subsidiary Insured Depository Institution that will expend and carry out the activities of an award on behalf of a Depository Institution Holding Company Applicant must have a CRA assessment rating of at least “Satisfactory.”

For non-regulated Applicants, the CDFI Fund will evaluate the financial health and viability of each non-regulated Applicant using financial information provided by the Applicant. For the financial analysis, each non-regulated Applicant will receive a Total Financial Composite Score on a scale of one (1) to five (5), with one (1) being the highest rating. The Total Financial Composite Score is based on the ( print page 6069) analysis of twenty-three (23) financial indicators. Applications will be grouped based on the Total Financial Composite Score. Applicants must receive a Total Financial Composite Score of one (1), two (2), or three (3) to advance to Step 3. Applicants that receive an initial Total Financial Composite Score of four (4) or five (5) will be re-evaluated and re-scored by CDFI Fund staff. If the Total Financial Composite Score remains four (4) or five (5) after CDFI Fund staff review, the Applicant will not advance to Step 3.

ii. Step 2: Compliance Risk Evaluation: For the compliance analysis, the CDFI Fund will evaluate the compliance risk of each Applicant using information provided in the Application, as well as an Applicant's reporting history, reporting capacity, and performance risk with respect to meeting the PG&Ms set forth in the Assistance Agreement. Each Applicant will receive a Total Compliance Composite Score on a scale of one (1) to five (5), with one (1) being the highest rating. Applicants that receive an initial Total Compliance Composite Score of four (4) or five (5) will be re-evaluated by CDFI Fund staff. If the Applicant is deemed a high compliance risk after CDFI Fund staff review, the Applicant will not advance to Step 3.

c. Step 3: Business Plan Review: Applicants that proceed to Step 3 will be evaluated on the soundness of their comprehensive business plan. Two external non-CDFI Fund Reviewers will conduct the Step 3: Business Plan Review. Reviewers will evaluate the Application sections listed in table 12. All Applications will be reviewed in accordance with standard reviewer evaluation materials. At the conclusion of the Step 3 evaluation, Applications will be ranked based on Total Business Plan Scores, in descending order from highest Total Business Plan Score to lowest Total Business Plan Score. Each category of Applicant type (Core and SECA) will be ranked separately. An amount up to but not exceeding the highest scoring 60% of Core Applicants in the Core Applicant pool and an amount up to, but not exceeding, the highest scoring 70% of SECA Applicants in the SECA Applicant pool will progress to Step 4. Within each category of Applicant type (Core and SECA) respectively, if a tie in Total Business Plan Scores would prevent an Applicant from advancing to Step 4, all Applicants with the same score will progress to Step 4. Lastly, the CDFI Fund may consider the geographic diversity of Applicants based on primary geographic market served (Major Urban Area, Micropolitan Area, Minor Urban Area, and Rural Area) when determining the Step 4 Applicant pool.

Based on funding availability for Core and SECA Base-FA Applicant types, the CDFI Fund reserves the right to limit the number of Applicants that progress from Step 3 to Step 4 to ensure that the CDFI Program can meaningfully vary award amounts among Applicants with different Step 4 Policy Objective scores, while maintaining minimum award amounts specified in table 2. In cases where funding availability is not sufficient to progress all Applicants within the top 60% of the Core Applicant pool and within the top 70% of the SECA Applicant pool from Step 3 to Step 4, priority will be given to Applicants that score highest on the Total Business Plan Score in each Applicant type (Core and SECA).

Applicants who request only an HP-FA award (with no Base-FA award) will be evaluated in a separate pool from the Core and SECA Base-FA Applicant types, utilizing the criteria outlined in table 12. This pool will combine any HP-FA only Applications under both the CDFI Program and the NACA Program. The Step 3 review questions under these criteria will be modified to reflect the fact that Applications requesting only HP-FA without Base-FA will not have an FA Objective. This review will be completed by CDFI Fund or other Federal staff, rather than external reviewers. Upon completion of the Step 3: Business Plan Review, the Applications requesting only an HP-FA award without a Base-FA award will be ranked according to Step 3 score. The CDFI Fund will forward the same percentage of HP-FA only applications to Step 4 as the percentage of the CDFI Program Core Applicant pool requesting Base-FA forwarded to Step 4. For example, if the CDFI Fund forwards the highest scoring 60% of the CDFI Program Core Applicant pool requesting Base-FA to Step 4, and it received 8 Applications requesting only HP-FA (across both the CDFI and NACA Programs), it will multiply 8 by 60% to calculate 4.8 and forward five Applicants to Step 4, as five is the closest whole number to 4.8.

Table 12—Step 3: Base-FA Business Plan Review Scoring Criteria

Base-FA application sections	Possible score	Score needed to advance
Mission and Community Needs	Scored as a component of the other Base-FA Application Sections	N/A.
Business Strategy	12	N/A.
Market and Competitive Analysis	7	N/A.
Products and Services	12	N/A.
Management and Track Record	12	N/A.
Growth and Projections	7	N/A.
Total Business Plan Score	50	Core Applicants: Up to, but not exceeding, top 60% of all Core Applicants. SECA Applicants: Up to, but not exceeding, top 70% of all SECA Applicants.

d. Step 4: Policy Objective Review: The CDFI Fund internal reviewers will evaluate each Application to determine its ability to meet policy objectives of the CDFI Fund. Each Applicant will be evaluated in each of the categories listed in table 13 and will receive a Total Policy Objective Review Score on a scale of one (1) to five (5), with one (1) being the highest score. Applicants are then grouped according to Total Policy Objective Review Scores. For Applications requesting only HP-FA (with no Base-FA request), the Step 4 policy objective review will be conducted using the same categories listed in table 13. Where appropriate, the evaluation criteria for reviewers will be modified to reflect the fact that Applications requesting only HP-FA without Base-FA will not have an FA Objective.

The CDFI Fund also conducts a due diligence review for Applicants that ( print page 6070) includes an analysis of programmatic risk factors including, but not limited to: history of performance in managing Federal awards (including timeliness of reporting and compliance); ability to meet FA Objectives selected by Base-FA Applicants in their Applications; reports and findings from audits; and ability to effectively implement Federal requirements, each of which could impact the Total Policy Objective Review Score. For Applications requesting only HP-FA (with no Base-FA), the due diligence review will consist of all of the above components except the FA Objective due diligence review; due diligence related to the Application's HP-FA strategy will be conducted as part of the HP-FA Application review.

Table 13—Step 4: Base-FA Policy Review Scoring Criteria

Section	Possible scores	High score	Score needed to advance
Economic Distress	1, 2, 3, 4, or 5	1	N/A.
Economic Opportunities	1, 2, 3, 4, or 5	1	N/A.
Community Collaboration	1, 2, 3, 4, or 5	1	N/A.
Total Policy Objective Review Composite Score	1, 2, 3, 4, or 5	1	All Scores Advance.

e. Step 5: Award Amount Determination: The CDFI Fund determines an award amount for each Application based on the Step 4 Total Policy Objective Review Score, the Applicant's request amount, and on certain other factors, including, but not limited to, the Applicant's deployment track record, minimum award size, and funding availability. Applicants may have award amounts reduced from the requested award amount or not funded as a result of this analysis. Based on funding availability for Core, SECA, and/or NACA Base-FA Applicant types, the CDFI Fund reserves the right to not award all Applicants that advance to Step 5. In cases where funding availability is not sufficient to award all Applications, priority will be given to Applicants that score highest on the Step 4: Policy Objective Review in each Applicant type Category (Core and SECA). For Core FA Applicants, the award cannot exceed 30% of the Applicant's total portfolio outstanding as of the Applicant's most recent historic fiscal year end in accordance with the FA Application Guidance. For SECA FA Applicants, the award cannot exceed 75% of the Applicant's total portfolio outstanding as of the Applicant's most recent historic fiscal year end in accordance with the FA Application Guidance, or the minimum award size as noted in table 2, whichever is greater.

2. HFFI-FA Application Scoring, Award Selection, Review, and Selection Process: A CDFI Fund internal reviewer will evaluate each HFFI-FA Application associated with a Base-FA Application that progresses to Step 4 of the FA Application review process. The reviewer will evaluate the Application sections listed in table 14 and assign a Total HFFI- FA Score up to 60 points. The CDFI Fund will make awards to the highest scoring Applicants first. All Applications will be reviewed in accordance with standard reviewer evaluation materials. Applicants that fail to receive a Base-FA award will not be considered for a HFFI-FA award.

The CDFI Fund conducts additional levels of due diligence for Applications that are under consideration for an HFFI-FA award. Award amounts may be reduced from the requested award amount as a result of this analysis. The CDFI Fund may reduce awards sizes from requested amounts based on certain variables, including but not limited to, an Applicant's deployment track record, total portfolio outstanding, or compliance with prior HFFI-FA awards. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when making its funding decisions.

Table 14—Step 4 HFFI-FA Application Scoring Criteria

Sections	Possible score
Target Market Profile	10 points
Healthy Food Financial Products	10 points
Projected HFFI-FA Activities	15 points
HFFI Track Record	20 points
Management Capacity for Providing Healthy Food Financing	5 points
Total HFFI-FA Score	60 points

3. PPC-FA Application Scoring, Award Selection, Review, and Selection Process: A CDFI Fund internal reviewer will evaluate the PPC-FA request of each PPC-FA Application associated with a Base-FA Application that progresses to Step 4 of the FA Application review process. PPC-FA requests are not scored. PPC-FA award amounts will be determined based on the total number of eligible Applicants and funding availability, the Applicant's requested amount, and on certain factors, including but not limited to, an Applicant's total portfolio outstanding, historical track record of deployment in PPC, pipeline of projects in PPC, minimum award size, and funding availability. Applicants that fail to receive a Base-FA award will not be considered for a PPC-FA award.

4. DF-FA Application Scoring, Award Selection, Review, and Selection Process: A CDFI Fund internal reviewer will evaluate each DF-FA Application associated with a Base-FA Application that progresses to Step 4 of the FA Application review process. The reviewer will evaluate the Application and assign a Total DF-FA Score on a scale of one (1) to three (3), with one (1) being the highest score. Applicants are then grouped according to Total DF-FA Score. All Applications will be reviewed in accordance with standard reviewer evaluation materials. Applicants that fail to receive a Base-FA award will not be considered for a DF-FA award. Award amounts will be determined on the basis of the Total DF-FA Score, the Applicant's requested amount, and on certain factors, ( print page 6071) including but not limited to, an Applicant's deployment track record, total portfolio outstanding, minimum award size, and funding availability. Award amounts may be reduced from the requested award amount as a result of this analysis. The CDFI Fund will make awards to the highest scoring Applicants first.

Table 15—Step 3 DF-FA Application Scoring Criteria

Section	Possible scores	High score
DF-FA Narrative Questions	1, 2, or 3	1
Total DF-FA Score	1, 2, or 3	1

5. HP-FA Application Scoring, Award Selection, Review, and Selection Process: A CDFI Fund internal reviewer will evaluate each HP-FA Application that progresses to Step 4 of the review process. The reviewer will evaluate the Application and assign a Total HP-FA Score on a scale of one (1) to three (3), with one (1) being the highest score, based on the Applicant's projected financing activity supporting housing production, the extent it intends to target 51% or more of Homeownership and rental Housing to families with incomes at 80% AMI or below, its track record of financing housing, its projected timeline for Housing to be completed, and the effectiveness of its strategy to mitigate any risks. Applicants are then grouped according to Total HP-FA Score. All Applications will be reviewed in accordance with standard reviewer evaluation materials. Applicants that would not qualify for an award based on Step 4 Total Policy Objective Review Score and due diligence evaluation will not be considered for an HP-FA award. Applicants that request an HP-FA award as a supplement a Base-FA award must be selected to receive a Base-FA award to be considered for an HP-FA award. Award amounts will be determined based on the Total HP-FA Score, the Applicant's requested amount, and on certain factors, including but not limited to, an Applicant's deployment track record, total portfolio outstanding, minimum award size, proximity to the $5 million over three years award cap, geographies served, and funding availability. The CDFI Fund may reduce an Applicant's award amount as a result of this analysis. The CDFI Fund will make awards to the highest scoring Applicants first.

6. TA Application Scoring, Award Selection, Review, and Selection Process: The CDFI Fund will evaluate each Application to determine its eligibility pursuant to Section III of this NOFA. If the Application satisfies the eligibility criteria, the CDFI Fund will conduct the TA Business Plan Review in two parts. Emerging CDFI Applicants must receive a rating of Low Risk or Medium Risk in Part I of the TA Business Plan Review to progress to Part II of the TA Business Plan Review. Emerging CDFI Applicants that receive a rating of High Risk in Part I of the TA Business Plan Review will not be considered for an award. Part I of the TA Business Plan Review is not applicable for Certified CDFI Applicants. Emerging CDFI and Certified CDFI Applicants must receive a rating of Low Risk or Medium Risk in Part II of the TA Business Plan Review to be considered for an award. Applicants that receive a rating of High Risk in Part II of the TA Business Plan Review will not be considered for an award. An Applicant that is a Certified CDFI will be evaluated on the demonstrated need for a TA award to build the CDFI's capacity, further the Applicant's strategic goals, and achieve impact within the Applicant's Target Market. An Applicant that is an Emerging CDFI will be evaluated on the Applicant's demonstrated capability and plan to achieve CDFI Certification within three years, or if a prior Recipient, the CDFI Certification PG&M stated in its prior Assistance Agreement. An Applicant that is an Emerging CDFI will also be evaluated on its demonstrated need for a TA award to build the CDFI's capacity and further its strategic goals. The CDFI Fund will rate each part of the TA Business Plan Review as indicated in table 16.

Table 16—TA Business Plan Review

Business plan review component	Applicant type	Ratings
Part I:
Primary Mission	Emerging CDFI Applicants	Low Risk, Medium Risk, or High Risk.
Financing Entity	Emerging CDFI Applicants
Target Market	Emerging CDFI Applicants
Accountability	Emerging CDFI Applicants
Development Services	Emerging CDFI Applicants
Part II:
Target Market Needs & Strategy	Emerging and Certified CDFI Applicants	Low Risk, Medium Risk, or High Risk.
Organizational Capacity	Emerging and Certified CDFI Applicants
Management Capacity	Emerging and Certified CDFI Applicants

Each TA Application will be evaluated by one internal CDFI Fund reviewer. The Business Plan Review of all Applications will be reviewed in accordance with CDFI Fund standard reviewer evaluation materials.

The CDFI Fund conducts additional levels of due diligence for Applications that are under consideration for an award. This due diligence includes an analysis of programmatic and financial risk factors including, but not limited to, financial stability, history of performance in managing Federal ( print page 6072) awards (including timeliness of reporting and compliance), reports and findings from audits, and the Applicant's ability to effectively implement Federal requirements. The CDFI Fund will also evaluate the compliance risk of each Applicant using information provided in the Application, as well as an Applicant's reporting history, reporting capacity, and performance risk with respect to meeting the PG&Ms set forth in the Assistance Agreement. Each Applicant will receive a Total Compliance Composite Score on a scale of one (1) to five (5), with one (1) being the highest rating. Applicants that receive an initial Total Compliance Composite Score of four (4) or five (5) will be re-evaluated by CDFI Fund staff. If the Applicant is deemed a high compliance risk after CDFI staff review, the Applicant will not be considered for an award. The CDFI Fund will also evaluate the Applicant's ability to meet CDFI Certification criteria of being a legal entity and a non-government entity. Award amounts may be reduced as a result of the due diligence analysis in addition to consideration of the Applicant's funding request and similar factors. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when making its funding decisions.

6. Regulated Institutions: The CDFI Fund will consider safety and soundness information from the Appropriate Federal or State Banking Agency. If the Applicant is a Depository Institution Holding Company, the CDFI Fund will consider information provided by the Appropriate Federal or State Banking Agencies about both the Depository Institution Holding Company and the Subsidiary Insured Depository Institution that will expend and carry out the award. If the Appropriate Federal or State Banking Agency identifies safety and soundness concerns (including any concerns for Subsidiary Insured Depository Institutions carrying out the activities of an award on behalf of a Depository Institution Holding Company), the CDFI Fund will assess whether such concerns cause or will cause the Applicant to be incapable of undertaking the activities for which funding has been requested.

7. Non-Regulated Institutions: The CDFI Fund must ensure, to the maximum extent practicable, that Recipients which are non-regulated CDFIs are financially and managerially sound and maintain appropriate internal controls (12 U.S.C. 4707(f)(1)(A) and 12 CFR 1805.800(b)). Further, the CDFI Fund must determine that an Applicant's capacity to operate as a CDFI and its continued viability will not be dependent upon assistance from the CDFI Fund (12 U.S.C. 4704(b)(2)(A)). If it is determined that the Applicant is incapable of meeting these requirements, the CDFI Fund reserves the right to deem the Applicant ineligible or terminate the award.

8. Consideration of the Three-Year Award Cap: The CDFI Fund is prohibited from obligating more than $5 million in CDFI and NACA Program awards, in the aggregate, to any one organization and its Subsidiaries and Affiliates during any three-year period from the announcement date. Base-FA, TA, PPC-FA, and HP-FA are expected to be considered in this determination, based on existing statutory authority and past appropriations bill language. DF-FA and HFFI-FA were excluded from consideration towards the three-year award cap in the enacted FY 2024 Consolidated Appropriations Act; however, the final FY 2025 appropriations are still pending. Thus, the CDFI Fund reserves the right to include FY 2025 DF-FA and HFFI-FA awards in calculating the three-year award cap if these programs are not excluded in the final FY 2025 CDFI Program appropriations. The CDFI Fund may reduce award amounts or deny certain supplemental awards if necessary to stay under the $5 million award cap for a Recipient.

B. Anticipated Award Announcement: The CDFI Fund anticipates making the CDFI Program award announcement before September 30, 2025. However, the anticipated award announcement date is subject to change without notice.

C. Application Rejection: The CDFI Fund reserves the right to reject an Application if information (including administrative errors) comes to the CDFI Fund's attention that: adversely affects an Applicant's eligibility for an award; adversely affects the Recipient's CDFI Certification (to the extent that the award is conditional upon CDFI Certification); adversely affects the CDFI Fund's evaluation or scoring of an Application; or indicates fraud or mismanagement on the Applicant's part. If the CDFI Fund determines any portion of the Application is incorrect in a material respect, the CDFI Fund reserves the right, in its sole discretion, to reject the Application. The CDFI Fund reserves the right to change its eligibility and evaluation criteria and procedures, if the CDFI Fund deems it appropriate. If the changes materially affect the CDFI Fund's award decisions, the CDFI Fund will provide information about the changes through its website. The CDFI Fund's award decisions are final, and there is no right to appeal decisions.

D. External Non-CDFI Fund Reviewers: All external non-CDFI Fund reviewers are selected based on criteria that includes a professional background in community and economic development finance, and experience reviewing the financial statements of all CDFI institution types. Reviewers must complete the CDFI Fund's conflict of interest process and be approved by the CDFI Fund.

VI. Federal Award Administration Information

A. Award Notification: Each successful Applicant will receive an email “notice of award” notification from the CDFI Fund stating that its Application has been approved for an award. Each Applicant not selected for an award will receive an email stating that a debriefing notice has been provided in its AMIS account.

B. Assistance Agreement: Each Applicant selected to receive an award must enter into an Assistance Agreement with the CDFI Fund in order to receive a payment(s). The Assistance Agreement will set forth the award's terms and conditions, including but not be limited to the: (i) award amount; (ii) award type; (iii) award uses; (iv) eligible use of award funds; (v) PG&Ms; and (vi) reporting requirements. FA Assistance Agreements have three-year Periods of Performance. TA Assistance Agreements have two-year Periods of Performance for Certified CDFIs and three-year Periods of Performance for Emerging CDFIs.

1. Certificate of Good Standing: All FA and TA Recipients that are not Regulated Institutions will be required to provide the CDFI Fund with a certificate of good standing from the secretary of state for the Recipient's jurisdiction of formation prior to closing. This certificate can often be acquired online on the secretary of state website for the Recipient's jurisdiction of formation and must generally be dated within 180 days prior to the Federal Award Date of the Assistance Agreement. Due to potential backlogs in state government offices, Applicants are advised to submit requests for certificates of good standing no later than 60 days after they submit their Applications.

2. Closing: Pursuant to the Assistance Agreement, there will be an initial closing at which point the Assistance Agreement and related documents will be properly executed and delivered, and an initial payment of FA or TA may be made. FA Recipients that are subject to the Matching Funds requirement will ( print page 6073) not receive a payment until 100% of their Matching Funds are In-Hand. The first payment is the estimated amount of the award that the Recipient states in its Application that it will use for eligible FA or TA activities in the first 12 months after the award announcement. The first payment request amount entered in the Application must be greater than zero. The CDFI Fund reserves the right to increase the first payment amount on any award to ensure that any subsequent payments are at least $25,000 for FA and $5,000 for TA awards.

The CDFI Fund will minimize the time between the Recipient incurring costs for eligible activities and award payment(s) in accordance with the Uniform Administrative Requirements. Advanced payments for eligible activities will occur no more than one year in advance of the Recipient incurring costs for the eligible activities. Following the initial closing, there may be subsequent closings involving additional award payments. Any documentation in addition to the Assistance Agreement that is connected with such subsequent closings and payments shall be properly executed and timely delivered by the Recipient to the CDFI Fund.

3. Requirements Prior to Entering into an Assistance Agreement: If, prior to entering into an Assistance Agreement, information (including administrative errors) comes to the CDFI Fund's attention that: adversely affects the Recipient's eligibility for an award; adversely affects the Recipient's CDFI Certification (to the extent that the award is conditional upon CDFI Certification); adversely affects the CDFI Fund's evaluation of the Application; indicates that the Recipient is not in compliance with any requirement listed in the Uniform Administrative Requirements; indicates that the Recipient is not in compliance with a term or condition of any prior Award Agreement, Assistance Agreement, and/or Allocation Agreement from the CDFI Fund; indicates the Recipient has failed to execute and return a prior round Assistance Agreement to the CDFI Fund within the CDFI Fund's deadlines; or indicates fraud or mismanagement on the Recipient's part, the CDFI Fund may, in its discretion and without advance notice to the Recipient, terminate the award or take such other actions as it deems appropriate. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient fails to return the Assistance Agreement, signed by the Authorized Representative of the Recipient, and/or provide the CDFI Fund with any requested documentation, within the CDFI Fund's deadlines.

In addition, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Assistance Agreement and the award made under this NOFA pending the criteria described in table 17.

Table 17—Requirements Prior to Executing an Assistance Agreement

Requirement	Criteria
Failure to meet reporting requirements	• If a Recipient received a prior award or allocation under any CDFI Fund program and is not current on the reporting requirements set forth in the previously executed assistance, award, allocation, bond loan agreement(s), or agreement to guarantee, as of the date of the notice of award, the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Assistance Agreement and/or to delay making a payment of award, until said prior Recipient or allocatee is current on the reporting requirements in the previously executed assistance, award, allocation, bond loan agreement(s), or agreement to guarantee. • If such a prior Recipient or allocatee is unable to meet this requirement within the timeframe set by the CDFI Fund, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the notice of award and the award made under this NOFA. • Please note that automated systems employed by the CDFI Fund for receipt of reports submitted electronically typically acknowledge only a report's receipt; such acknowledgment does not warrant that the report received was complete, nor that it met reporting requirements.
Failure to maintain CDFI Certification	• An FA Recipient must be a Certified CDFI. • If an FA Recipient fails to maintain CDFI Certification, the CDFI Fund will not execute the Assistance Agreement and will terminate and rescind the award made under this NOFA. • If a TA Recipient is a Certified CDFI at the time of award announcement, it must maintain CDFI Certification. • If a Certified CDFI TA Recipient fails to maintain CDFI Certification, the CDFI Fund will not execute the Assistance Agreement and will terminate and rescind the award made under this NOFA.
Pending resolution of noncompliance or default	• The CDFI Fund will delay entering into an Assistance Agreement with a prior Recipient or allocatee (or Affiliate of the Recipient identified in AMIS) that has pending noncompliance or default issues with any of its previously executed CDFI Fund award(s), allocation(s), bond loan agreement(s), or agreement(s) to guarantee. • If said prior Recipient or allocatee is unable satisfactorily resolve the compliance issues, the CDFI Fund reserves the right, in its sole discretion, to terminate and/or rescind the notice of award and the award made under this NOFA.
Noncompliance or default status	• If, at any time prior to entering into an Assistance Agreement, the CDFI Fund determines that a Recipient (or Affiliate of the Recipient identified in AMIS) is noncompliant or found in default with any previously executed CDFI Fund award(s), allocation(s), bond loan agreement(s), or agreement(s) to guarantee, and the CDFI Fund has provided written notification that the Recipient is ineligible to apply for or receive any future awards or allocations for a time period specified by the CDFI Fund in writing, the CDFI Fund may delay entering into an Assistance Agreement until the Recipient has cured the noncompliance and/or default by taking actions the CDFI Fund has specified within such specified timeframe. Additionally, regardless of whether a sanction or remedy is imposed, the CDFI Fund will not consider an Application submitted by an Applicant if the default on a prior Allocation Agreement of the Applicant or an Affiliate occurs during the time period beginning 12 months prior to the Application deadline and execution of the FY 2025 Assistance Agreement. If the Recipient is unable to cure the noncompliance and/or default within the specified timeframe, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA.
Compliance with Federal civil rights requirements	• If, within the period starting three years prior to this NOFA and through the date of the Assistance Agreement, the Recipient received a final determination, in any proceeding instituted against the Recipient in, by, or before any court, governmental, or administrative body or agency, declaring that the Recipient violated any Federal civil rights laws or regulations, including: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C. 2000d et seq.); Fair Housing Act (42 U.S.C. 3601 et seq.); Equal Credit Opportunity Act (15 U.S.C. 1691 et seq.); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); and the Age Discrimination Act of 1975 (42 U.S.C. 6101-6107), the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA. The CDFI Fund will delay entering into an Assistance Agreement with a Recipient that has pending Title VI noncompliance issues, if the CDFI Fund has not yet made a final compliance determination. • If the Recipient is unable to satisfactorily resolve the Title VI noncompliance issues, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA. • The Title VI Compliance Worksheet and program award terms and conditions do not impose antidiscrimination requirements on Tribal governments beyond what would otherwise apply under Federal law.
( print page 6074)
Do Not Pay	• The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal Government. • If the Do Not Pay Business Center reports that the Recipient has a pending or delinquent debt to the Federal Government, the Recipient will be required to demonstrate that it has resolved such pending or delinquent debt. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient fails to demonstrate resolution of the pending or delinquent Federal debt.
Safety and soundness	• If it is determined the Recipient is, or will be, incapable of meeting its award obligations, the CDFI Fund will deem the Recipient to be ineligible or require it to improve its safety and soundness prior to entering into an Assistance Agreement.

C. Reporting

1. Reporting requirements: On an annual basis during the Period of Performance, the CDFI Fund may collect information from each Recipient including, but not limited to, an Annual Report with the following components (Annual Reporting Requirements):

Table 18—Annual Reporting Requirements *

Financial Statement Audit Report (Non-profit Recipient including Insured Credit Unions and State-Insured Credit Unions)	A Non-profit Recipient (including Insured Credit Unions and State-Insured Credit Unions) must submit a Financial Statement Audit (FSA) Report in AMIS, along with the Recipient's statement of financial condition audited or reviewed by an independent certified public accountant, if any are prepared.
	Under no circumstances should this be construed as the CDFI Fund requiring the Recipient to conduct or arrange for additional audits not otherwise required under Uniform Administrative Requirements or otherwise prepared at the request of the Recipient or parties other than the CDFI Fund.
Financial Statement Audit Report (For-Profit Recipient)	For-profit Recipients must submit an FSA Report in AMIS, along with the Recipient's statement of financial condition audited or reviewed by an independent certified public accountant.
Financial Statement Audit Report (Depository Institution Holding Company and Insured Depository Institution)	If the Recipient is a Depository Institution Holding Company or an Insured Depository Institution, it must submit an FSA Report in AMIS.
Single Audit Report (Non-Profit Recipients, if applicable)	A non-profit Recipient must complete an annual Single Audit pursuant to the Uniform Administrative Requirements (see 2 CFR Subpart F-Audit Requirements) if it expends $1,000,000 or more in Federal awards in its fiscal year, or such other dollar threshold established by OMB pursuant to 2 CFR 200.501. If a Single Audit is required, it must be submitted electronically to the Federal Audit Clearinghouse (FAC) (see 2 CFR Subpart F-Audit Requirements in the Uniform Administrative Requirements) and optionally through AMIS.
Federal Financial Report/OMB Standard Form 425 (SF-425)	The Recipient must annually submit the SF-425 Federal Financial Report to the CDFI Fund through AMIS to disclose how much of the CDFI Program award funds were expended during the Federal Government's fiscal year of October 1 through September 30.
Uses of Award Report	The Recipient must submit the Uses of Award Report to the CDFI Fund in AMIS.
	If the Recipient is a Depository Institution Holding Company that deploys all or a portion of its Financial Assistance through its Subsidiary Insured Depository Institution, the Depository Institution Holding Company must submit all uses in a Uses of Award Report.
Shareholders Report	If the Assistance is in the form of an Equity Investment, the Recipient must submit shareholder information to the CDFI Fund showing the class, series, number of shares and valuation of capital stock held or to be held by each shareholder. The Shareholders Report must be submitted for as long as the CDFI Fund is an equity holder. The Shareholders Report is submitted through AMIS.
Performance Progress Report	The Recipient must submit the Performance Progress Report through AMIS.
	If the Recipient is a Depository Institution Holding Company that deploys all or a portion of its Financial Assistance through its Subsidiary Insured Depository Institution, the Depository Institution Holding Company must submit all deployed activity in a Performance Progress Report.
Transaction Level Report (TLR)	The Recipient must submit a TLR to the CDFI Fund through AMIS.
	If the Recipient is a Depository Institution Holding Company that deploys all or a portion of its Financial Assistance through its Subsidiary Insured Depository Institution, the Depository Institution Holding Company must create and submit the TLR for this award. The Subsidiary Insured Depository Institution does not submit and create a TLR related to this award.
	The full-length TLR completed by FA Recipients is not required for TA Recipients. However, TA Recipients who are Certified CDFIs must complete the abbreviated TLR through AMIS as a requirement of CDFI Certification.
Annual Certification and Data Collection Report (ACR)	TA Recipients that are Certified at the time of award announcement and all FA Recipients must submit the ACR to the CDFI Fund through AMIS per the ACR reporting schedule.
	If a TA Recipient is a Certified CDFI at the time of the award announcement, it must also submit the abbreviated TLR in conjunction with its ACR to the CDFI Fund through AMIS as per the ACR and abbreviated TLR reporting schedule.
	If a TA Recipient is an uncertified CDFI at the time of award announcement, it must submit the ACR and abbreviated TLR to the CDFI Fund through AMIS subsequent to obtaining CDFI Certification as per the ACR and abbreviated TLR reporting schedule.
* Personally Identifiable Information (PII) is information, which if lost, compromised, or disclosed without authorization, could result in substantial harm, embarrassment, inconvenience, or unfairness to an individual. Although Applicants are required to enter addresses of individual borrowers/residents of Distressed Communities in AMIS, Applicants should not include the following PII for the individuals who received the Financial Products or Financial Services in AMIS or in the supporting documentation ( i.e., name of the individual, Social Security Number, driver's license or state identification number, passport number, Alien Registration Number, etc.). This information should be redacted from all supporting documentation.

Each Recipient is responsible for the timely and complete submission of the Annual Reporting Requirements. The CDFI Fund reserves the right to require Recipients to take training on how to accurately complete any reporting required pursuant to the Assistance Agreement. The CDFI Fund reserves the right to contact the Recipient and additional entities or signatories to the Assistance Agreement to request additional information and/or documentation. The CDFI Fund will use such information to monitor each Recipient's compliance with the requirements of the Assistance Agreement and to assess the impact of the CDFI Program. The CDFI Fund reserves the right, in its sole discretion, to modify these reporting requirements, including increasing the scope and frequency of reporting, if it determines it to be appropriate and necessary; however, such reporting requirements ( print page 6075) will be modified only after notice to Recipients.

2. Financial Management and Accounting: The CDFI Fund will require Recipients to maintain financial management and accounting systems that comply with Federal statutes, regulations, and the terms and conditions of the Federal award. These systems must be sufficient to permit the preparation of reports required by the CDFI Fund to ensure compliance with the terms and conditions of the CDFI Program, including the tracing of award funds to a level of expenditures adequate to establish that such award funds have been used in accordance with Federal statutes, regulations, and the terms and conditions of the Federal award.

The cost principles used by Recipients must be consistent with Federal cost principles and support the accumulation of costs as required by the principles and must provide for adequate documentation to support costs charged to the CDFI Program award. In addition, the CDFI Fund will require Recipients to: maintain effective internal controls; comply with applicable statutes, regulations, and the Assistance Agreement; evaluate and monitor compliance; take appropriate action when not in compliance; and safeguard personally identifiable information.

VII. Agency Contacts

A. The CDFI Fund will respond to questions concerning this NOFA and the Application between the hours of 9:00 a.m. and 5:00 p.m. Eastern Time, starting on the date that the NOFA is published through the date listed in table 1. The CDFI Fund strongly recommends Applicants submit questions to the CDFI Fund via an AMIS Service Request to the CDFI Program, Certification, Compliance Monitoring and Evaluation, or IT Help Desk. The CDFI Fund will post on its website responses to reoccurring questions received about the NOFA and Application. Other information regarding the CDFI Fund and its programs may be obtained from the CDFI Fund's website at https://www.cdfifund.gov. Table 19 lists CDFI Fund contact information:

Table 19—Contact Information

Type of question	Preferred method	Telephone number (not toll free)	Email addresses
CDFI Program	Service Request via AMIS	202-653-0421, option 1	[e-mail].
Compliance Monitoring and Evaluation	Service Request via AMIS	202-653-0423	[e-mail].
CDFI Certification	Service Request via AMIS	202-653-0423	[e-mail].
AMIS—IT Help Desk	Service Request via AMIS	202-653-0422	[e-mail].
Grants.gov Help Desk	N/A	[phone]	[e-mail].
SAM.gov (Federal Service Desk)	N/A	[phone]	https://sam.gov/​.