Native CDFI housing lenders, we want to make sure you saw this notice of corrections to the USDA 502 Native Community Development Financial Institution (NCDFI) Relending Demonstration Program FY 2023. The corrected guidelines allow Native CDFIs to compete for the program without a match. The new guidelines do not remove the match requirement completely. However, this change results in applicants receiving 0 points if they do not have a match rather than making them ineligible. Applications are still due on July 17, 2023.
NCN is encouraging all Native CDFI housing lenders to apply – with or without a match. This is a great opportunity to demonstrate demand to Congress for this great source of capital.
Click here to view the full corrections.