The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released a revised Community Development Financial Institution (CDFI) Certification Application Frequently Asked Questions (FAQs) document, Pre-Approved Target Market Assessment Methodology guidance, and an adjusted CDFI Certification Application timeline.
The FAQs and guidance supersede those published December 07, 2023, by adding, revising, or updating select questions from the earlier editions.
Additionally, the CDFI Fund is also publishing the CDFI Certification Agreement template. Successful CDFI Certification Applicants will be required to sign and be subject to the terms and conditions within the Agreement in order to maintain their status as a Certified CDFI.
To accommodate the release of the amended FAQs, the CDFI Fund is making an adjustment to the early reapplication submission window. Organizations that previously notified the CDFI Fund they wished to apply before the general recertification application deadline, will now reapply for CDFI Certification between October 28, 2024, and January 6, 2025. As previously indicated by the CDFI Fund:
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Early applicants whose applications are declined and therefore are not recertified will remain in a grace period and retain Certification through December 31, 2025, but must submit a new CDFI Certification Application by December 31, 2025, to remain Certified.
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Early applicants that choose not to apply during the revised early reapplication window must submit their applications according to the general reapplication deadlines outlined in the following General Reapplication Submission Deadlines chart.
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All other currently Certified CDFIs must submit their reapplication in the Awards Management Information System (AMIS) by the general reapplication deadlines. No additional grace periods or extensions will be granted to CDFIs that miss the revised deadline.
All currently Certified CDFIs must reapply for CDFI Certification following the submission schedule, which remains unchanged since it was published on June 20, 2024. Organizations that do not submit an Application by 11:59 pm Eastern Time (ET) on their appointed deadline will lose their CDFI Certification.
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