CDFI Fund publishes reference materials for program applicants

The Community Development Financial Institutions Fund published application instructions and reference materials for two programs with application deadlines this month.

Details: The CDFI Fund published additional reference materials and application instructions for Small Dollar Loan Program and Bank Enterprise Award Program applicants.

Background: The CDFI Fund last week opened the 2026 application rounds for:

• The BEA Program: $40 million for FDIC-insured institutions to invest in CDFIs, with a series of application deadlines between July 24 and July 31.

• The SDL Program: $9 million to help certified CDFIs provide alternatives to high-cost, small-dollar loans, with application deadlines running from July 23 to July 30.

• The CDFI Bond Guarantee Program: Up to $500 million in guarantee authority for bonds purchased by the Federal Financing Bank to support CDFI capital, with issuer applications due July 7 and guarantee applications due July 8.

Recent CDFI Developments: Recent actions on CDFIs include.

• The Treasury Department in April announced it has initiated a review of certified community development financial institutions to identify potential violations of applicable law or CDFI requirements.

• As advocated by ICBA, the Trump administration this spring began releasing 2025 funding for the CDFI Fund that had been held up since it was appropriated by Congress.

• The Consolidated Appropriations Act enacted in February allocated $324 million for the CDFI Fund this year, the same amount as 2025.

• President Donald Trump’s 2027 budget proposal calls for cutting $204.5 million in discretionary awards from the CDFI Fund, though the president’s budget is a nonbinding recommendation to Congress.

ICBA View: ICBA has persistently worked to ensure full funding for the CDFI Fund amid efforts to cut its resources. A recent Independent Banker magazine article details how CDFIs and minority depository institutions weather potential funding cuts and regulatory shifts and continue to help underserved communities.