The purpose of this webinar is to ensure that Native CDFIs take a proactive role in shaping the narrative and representing the Native CDFI industry during this period of change. This is an opportunity to highlight the essential contributions of our industry to the economic growth in our respective States in the country, including creating jobs, expanding access to homeownership, and fostering the growth of small businesses. NCN will provide a detailed explanation of the recent federal directive, focusing on its immediate and long-term implications.
This directive, issued by the new administration, requires significant actions by federal agencies and introduces potential challenges to funding programs such as the CDFI Fund’s Financial Assistance (FA) and Technical Assistance (TA) awards, USDA programs, and many others too numerous to mention. At the same time, NCN is committed to identifying and working towards solutions that align with the administration’s economic goals while addressing the needs of our communities.
Key Points to Note:
- The pause takes effect today, January 28, 2025, at 5:00 PM.
- This temporary measure affects all federal agencies and includes:
- The issuance of new awards.
- Disbursement of funds under existing awards.
- Activities related to open Notices of Funding Opportunities.
- Delays in federal agencies webinars and communications.
- Federal agencies are required to:
- Identify any legally mandated actions or deadlines during the pause period.
- Submit detailed program information to the Office of Management and Budget (OMB) by February 10, 2025.
While this pause introduces uncertainty, NCN is committed to finding actionable solutions and working constructively with the administration and federal agencies. Native CDFIs may face delays in funding disbursements, requiring them to reassess project timelines, budgets, and strategies to sustain critical services. NCN will provide guidance and tools to help Native CDFIs navigate these challenges while continuing to drive economic solutions that foster job creation, expand homeownership, and support small business development in our local economies.
Additionally, NCN will stress the importance of strategic advocacy and collaboration. By working closely with congressional representatives and state leaders, Native CDFIs can amplify their voices and highlight their critical role in supporting the administration’s economic priorities. This collaborative effort will emphasize the need for sustained resources and innovative approaches to overcome challenges. NCN is actively seeking and promoting solutions that ensure Native communities remain at the forefront of economic progress and equity initiatives. We welcome your recommendations as we move forward.
Click here to register for the webinar.