CDFI Certification Deadline Announced for Potential Applicants to the FY 2009 Bank Enterprise Award Program Funding Round

September 8, 2008

Washington, DC - In preparation for the upcoming FY 2009 Bank Enterprise Award (BEA) Program funding round, the CDFI Fund is announcing that Applicants and CDFI Partners that are not Certified CDFIs must submit a CDFI Certification Application by 5:00pm EDT Wednesday, October 15, 2008. The Fund will respond to Applicants’ BEA-related certification questions between the hours of 9:00 a.m. and 5:00 p.m. EDT, starting the date of the publication of this notice through October 9, 2008.

In accordance with BEA Program Regulations (12 CFR 1806.103(n)), CDFIs and CDFI Partners engaged in activities to be submitted under an FY 2009 BEA Program application must be certified as CDFIs as of the end of the applicable Assessment Period (December 31, 2008). An Applicant does not need to be certified as a CDFI to apply for a BEA Program award, but certified CDFIs receive priority for funding.

Please note that the FY 2009 BEA Program Notice of Funds Availability (NOFA) has not been published at this time. Please check the CDFI Fund's website for the latest information regarding the NOFA's availability.

Also, please note that an organization that does not intend to apply for a BEA Program award through the FY 2009 BEA Program funding round may submit a CDFI Certification Application at any time.

Certification Application Guidance and Materials

Organizations that are interested in applying for CDFI Certification can find guidance and the application materials on the CDFI Fund Certification Web page.

Programmatic Overview

The CDFI Fund certifies organizations as community development financial institutions - or CDFIs. These organizations provide financing and related services to communities and populations that lack access to credit, capital and financial services. To become certified, an organization must meet seven criteria including: be a legal entity, have an eligible primary mission, be a financing entity, serve an eligible Target Market, be accountable to the Target Market, provide corresponding Development Services, and not be controlled by a government entity. Among other benefits, CDFI certification allows applicants to apply for Financial Assistance through the CDFI Program, and receives priority for funding under the BEA Program.

For more information about CDFI Certification eligibility and the application process, or the CDFI Fund’s programs, please visit the CDFI Fund Certification Web page or contact the CDFI Fund Helpdesk by emailing cdfihelp@cdfi.treas.gov or by calling (202) 622-6355.

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