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Announcements
Fiscal Year 2009 Round of NACA Program Opens
Departments of Treasury and Justice Address Economic Development in Indian Country
Overview
In September 1994, Congress mandated that the CDFI Fund conduct a study of lending and investment practices on Indian reservations and other lands held in trust by the United States. Specifically, Congress mandated that the study identify barriers to private financing, identify the impact of such barriers on access to capital and to credit for Native peoples, and provide options to address these barriers.
Since the November 2001 release of its Native American Lending Study, the CDFI Fund has embarked on a number of initiatives designed to overcome barriers preventing access to credit, capital and financial services in Native American, Alaska Native and Native Hawaiian communities (collectively referred to as "Native Communities").
Through these initiatives, the CDFI Fund provides direct monetary awards (see NACA Program below) and training (through private sector contractors) aimed at increasing the number and capacity of CDFIs serving Native Communities (referred to as Native CDFIs for purposes of the Native Initiatives).
NACA Program
Through the NACA Program, the CDFI Fund provides Financial Assistance (FA) and Technical Assistance (TA) grants to certified Native CDFIs; and TA grants to entities that will become ("Emerging Native CDFIs") or will create ("Sponsoring Entities") a Native CDFI.
Eligibility
An organization wishing to apply for FA only or a combination of FA and TA through the NACA Program must be either a certified Native CDFI or be able to be certified by the Fund at the time of application. Organizations that are Emerging Native CDFI or Sponsoring Entity may only apply for TA grants through the NACA Program. For more information on CDFI Certification: Click Here
- Certified Native CDFI - is an entity that primarily serves (meaning, at least 50 percent of its activities are directed toward serving Native Americans, Alaska Natives and/or Native Hawaiians) a Native Community and from which the Fund receives a complete CDFI Certification Application by the applicable deadline of the NACA Program application, evidencing that all Applicant meets all requirements to be certified as a CDFI. View List of Native CDFIs
- Emerging Native CDFI - is an entity that primarily serves (see above) a Native Community and that demonstrates to the satisfaction of the Fund that it has a reasonable plan to achieve CDFI certification within a reasonable timeframe.
- Sponsoring Entity - is an entity that proposes to create a separate legal entity that will become certified as a CDFI (typically a Tribe or Tribal entity).
For more detailed information, please refer to the Notice of Funds Availability (NOFA) found in the Application Materials section below.
Timeline
| NOFA Publishing: |
September 30, 2008 |
| Application Deadline: |
December 19, 2008 |
| Awards Announced: |
Spring 2009 |
Expanding Native Opportunities
The Fund has awarded over $7.5 million in contracts to organizations that provide capacity-building and financial services training programs that are focused on Native Communities. By creating a Native CDFI, you can provide basic financial services in your community and help individuals overcome the barriers currently preventing access to credit and capital.
Expanding Native Opportunities is a training initiative focused on increasing the number of Native CDFIs, strengthen the operation capacity of existing Native CDFIs, and guiding Native CDFIs in the creation of important financial education and asset building programs for their communities. These programs are fully funded by the CDFI Fund and administered by contractors that are selected through a competitive bidding process.
Training Opportunities:
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| Application Materials |
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