NCN Live: Native Community Development Financial Relending Demonstration Program
NCN will host a webinar on Wednesday, July 31 at 2:00 p.m. ET where, presenters Tedd Buelow, Tribal Relations Team Lead and Brian Hudson, Finance and Loan Analyst with Single Family Housing Direct Division at USDA Rural Development will provide more information about the relending program.
USDA Rural Development announced a fiscal year 2024 Notice of Funding Opportunity for the Native Community Development Financial Institution (Native CDFI) Relending Demonstration Program on July 1, 2024. The Native CDFI Relending Demonstration program is designed to improve homeownership opportunities for Native American Tribes, Alaska Native Communities, and Native Hawaiian Communities in rural areas. The program provides mortgage lending capital to Native CDFIs through a 33-year loan at one percent interest, with a three-year payment deferral at loan onset. Entities certified as Native Community Development Financial Institutions by the U.S. Treasury Secretary can apply for this relending demonstration program. The Agency has a $5 million funding allocation for this program in fiscal year 2024, applications are due on August 9, 2024.
Completed applications must be submitted using one of the following methods:
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Paper submissions: The Agency must receive paper applications by 4:30 p.m. local time, August 9, 2024. Applications can be mailed to: USDA Rural Development, Washington State Office, Attention: Andria Hively, 1835 Black Lake Blvd. SW, Olympia, WA 98512.
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Electronic submissions: Electronic applications must be submitted via email to [email protected] by 11:59 p.m. Eastern Time (ET) on August 9, 2024.
For additional program information, visit the NCDFI Relending Demonstration Website or contact Brian Hudson at [email protected].
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