CDFI Fund Outlines Eligible Uses of Capital Magnet Fund Awards

Thursday, May 25, 2017 - 8:15AM

The Community Development Financial Institutions (CDFI) Fund today published a blog post on eligible uses of Capital Magnet Fund Awards. Eligible uses of Capital Magnet Fund award dollars include capitalizing an affordable housing fund, capitalizing a revolving loan fund, capitalizing an economic development activities fund, creating loan loss reserves, making risk-sharing loans and making loan guarantees. The CDFI Fund last month announced that it is tentatively planning to open the fiscal year (FY) 2017 round of the Capital Magnet Fund in June, when up to $120 million in awards will be available.

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