CDFI Fund: $540 Million in Requests for 2017 Capital Magnet Fund Program

Thursday, December 14, 2017 - 12:30pm

One-hundred twenty organizations submitted applications requesting nearly $540 million in funding for the fiscal year 2017 round of the Capital Magnet Fund program, the Community Development Financial Institutions (CDFI) Fund announced today. Capital Magnet Fund awards are granted to CDFIs and qualified nonprofit housing organizations to finance affordable housing activities, related economic development activities and community service facilities. There is $119.5 million available for awards in the FY17 round and awards are expected in early 2018.