21 Jan Community Development Financial Institutions Program
Program Name: Community Development Financial Institutions Program
Resource Type: Federal
Agency: Program Source: Economic Development Entity
Description: The Community Development Financial Institutions (CDFIs) Program provides two types of monetary awards — Financial Assistance (FA) and Technical Assistance (TA) — to invest in CDFIs (essentially non-profit banks) that serve low-income people and communities that lack affordable financial products and services. CDFIs may use the funds from the awards to 1) promote economic development, develop businesses, create jobs and develop commercial real estate; 2) develop affordable housing and promote homeownership; and 3) provide community development financial services, such as basic banking services, financial literacy programs, and alternatives to predatory lending. A number of coastal CDFIs invest in Working Waterfront related businesses and infrastructure.