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The Community Development Financial Institutions Fund (CDFI Fund) in the U.S. Department of the Treasury was authorized to administer the program. CDEs apply to the CDFI Fund each year for an "allocation authority" (the authority to raise a certain amount of capital, known as Qualified Equity Investments (QEIs), [5] from investors). In 2001 ...
As of September 1, 2005, there were 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. [2]
Capital Impact also facilitates financing deals that include New Markets Tax Credits and the Bond Guarantee Program awarded by the Department of Treasury through its Community Development Financial Institution Fund to promote access to capital and local economic growth in urban and rural low-income communities across the nation. [6] [65] [66] [67]
The CDFI Fund and the legal concept of CDFIs were established by the Riegle Community Development and Regulatory Improvement Act of 1994. Broadly speaking, a CDFI is defined as a financial institution that: has a primary mission of community development , serves a target market, is a financing entity, provides development services, remains ...
A community development bank (CDB) or Community Development Financial Institution (CDFI) is a development bank or credit union that focus on serving people who have been locked out of the traditional financial systems such as the unbanked or underbanked in deprived local communities.
The Local Initiatives Support Corporation (LISC) is a US non-profit community development financial institution (CDFI) that supports community development initiatives across the country. It has offices in nearly 40 cities and works across 2,100 rural counties in 44 states. [ 2 ]
“I’m looking for a man in finance, trust fund, 6’5”, blue eyes. Finance, trust fund, 6’5” blue eyes,” Boni sings to the camera in a sing-songy way that calls to mind the 2010 hit ...
As a means of creating a nationwide network of community development banks, the Treasury Department's Community Development Financial Institutions Fund was established. By 2000, the CDFI Fund had issued $436 million in total grants, loans, equity investments, and technical assistance to local financial institutions, banks, and thrifts, which ...