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CDFI Fund Releases FY 2021 Data for CDFI Program, NACA Program

Wednesday, July 5, 2023 - 3:15pm

The Community Development Financial Institutions (CDFI) Fund today released fiscal year 2021 data for active recipients in its CDFI program and Native American Community Assistance (NACA) program. Award recipients reported that approximately 67% of their lending portfolio was targeted in distressed areas and to underserved populations, more than 20% of lending was in nonmetropolitan areas, and more than 31% of lending went to high-poverty areas. More than 400 institutions reported data. The CDFI program uses financial awards and training opportunities to invest in and build the capacity of CDFIs, while the NACA program provides financial assistance awards to Native CDFIs through loans, grants, equity investments, deposits and credit union shares.

Novogradac’s CDFI practice offers accounting and consulting expertise to CDFIs.