Community Development Financial Institutions Fund
Encyclopedia
The Community Development Financial Institutions Fund, or CDFI Fund, promotes economic revitalization in distressed communities throughout the United States
by providing financial assistance and information to community development financial institutions (CDFI). An agency of the United States Department of the Treasury
, it was established through the Reigle Community Development and Regulatory Improvement Act of 1994. Financial institutions, which may include bank
s, credit unions, loan funds, and community development venture capital funds, can apply to the CDFI Fund for formal certification as a CDFI. As of September 1, 2005, there were currently 747 certified CDFIs in the U.S. The CDFI Fund offers a variety of financial programs to provide capital to CDFIs, such as the Financial Assistance Program, Technical Assistance Program, Bank Enterprise Award Program, and the New Markets Tax Credit Program.
One of the largest nonprofit loan funds in the United States, Enterprise Community Loan Fund - a subsidiary of Enterprise Community Partners
has loaned more than $725 million to help build or renovate 91,000 affordable homes. They also offer local funds in Atlanta, Louisiana, Los Angeles, and New York City.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
by providing financial assistance and information to community development financial institutions (CDFI). An agency of the United States Department of the Treasury
United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...
, it was established through the Reigle Community Development and Regulatory Improvement Act of 1994. Financial institutions, which may include bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s, credit unions, loan funds, and community development venture capital funds, can apply to the CDFI Fund for formal certification as a CDFI. As of September 1, 2005, there were currently 747 certified CDFIs in the U.S. The CDFI Fund offers a variety of financial programs to provide capital to CDFIs, such as the Financial Assistance Program, Technical Assistance Program, Bank Enterprise Award Program, and the New Markets Tax Credit Program.
One of the largest nonprofit loan funds in the United States, Enterprise Community Loan Fund - a subsidiary of Enterprise Community Partners
Enterprise Community Partners
Enterprise Community Partners, formerly The Enterprise Foundation, is a Columbia, Maryland-based nonprofit organization with offices nationwide. Founded in 1982 by developer/philanthropist James W...
has loaned more than $725 million to help build or renovate 91,000 affordable homes. They also offer local funds in Atlanta, Louisiana, Los Angeles, and New York City.