CDFI Fund Releases Application Demand for the FY 2013 NACA Program Funding Round

Washington, DC- The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) released today the application demand for the fiscal year (FY) 2013 round of the Native American CDFI Assistance Program (NACA Program). The NACA Program provides Financial Assistance (FA) and Technical Assistance (TA) awards to certified and emerging Community Development Financial Institutions (CDFIs) that serve Native American, Alaska Native, and Native Hawaiian communities.

The CDFI Fund received 65 applications for the FY 2013 NACA Program round-30 requests for FA and 35 requests for TA. Applicants requested $26.9 million in total, with FA applicants requesting nearly $21.8 million and TA applicants requesting $5.1 million. The amount requested is over double the funding available, and an increase from the $23 million requested in the FY 2012 round. The applicants are from 21 states plus the District of Columbia.

"Over a decade after the CDFI Fund first studied how we can assist the growth of CDFIs serving Native communities, we are still seeing consistent demand for the Financial Assistance and Technical Assistance awards available through the NACA Program," said CDFI Fund Director Donna J. Gambrell. "Native CDFIs are active partners in the economic growth of their communities, and the NACA Program continues to serve as vital support for these essential organizations as they work in the some of the most distressed areas in the country."

The CDFI Fund is making $11.4¹ million available for Financial Assistance and Technical Assistance awards through the NACA Program. The deadline for applications was February 28, 2013. The awards are expected to be announced in the fall of 2013.

Applications are currently being evaluated through a merit-based qualitative review to identify those applicants most likely to have the greatest impact in our nation's most distressed low-income rural and urban Native communities. Click here to view a table containing further information on the applicant pool.

For more information about the NACA Program or the other programs administered by the CDFI Fund, please visit www.cdfifund.gov.
 

^{1. Amount reflects final budget authority after the FY 2013 Continuing Resolution and implemented sequestration. Tentative dollar amount published in the Notice of Funds Availability in the Federal Register on December 28, 2012 were based upon the Administration's FY 2013 budget request for the CDFI Fund.}