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CDFI Fund Announces $500 Million Availability of Guarantee Authority through FY 2024 Bond Guarantee Program

Friday, February 23, 2024 - 8:58AM

The Community Development Financial Institutions (CDFI) Fund will publish a notice of guarantee availability (NOGA) in Monday’s Federal Register, inviting applications for up to $500 million in guarantee authority for the fiscal year 2024 CDFI Bond Guarantee program. The CDFI Bond Guarantee program provides CDFIs with substantial long-term, fixed-rate capital for use in distressed communities. The awards are for a minimum of $100 million each. Applicants must be a certified CDFI or an entity designed by a certified CDFI to issue bonds on its behalf. The qualified issuer applications must be submitted by 11:59 p.m. ET April 16 and the bond guarantee application must be submitted by 11:59 p.m. ET April 23. The Secretary of the Treasury must make FY 2024 guarantee application decisions by Sept. 30 and the CDFI Fund must close bonds or bond loans by Dec. 31.

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