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Nearly 700 CDFIs Apply for CDFI ERP Funds

Wednesday, February 1, 2023 - 12:30PM

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that nearly 700 Community Development Financial Institutions (CDFIs) requested $7.69 billion in awards in the CDFI Equitable Recovery Program (CDFI ERP). The program made as much as $1.75 billion available with an eye toward reacting to the economic forces caused by the COVID-19 pandemic. Of the five policy priority areas outlined for the 696 CDFIs that applied to deploy their efforts, the largest were endeavors to serve low- or moderate-income majority-minority census tracts that also are ERP-eligible regions at 37.8%. The CDFI Fund plans to announce awards in winter 2023.

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