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CDFI Equitable Recovery Program Application Date Extended

The Community Development Financial Institutions Fund (CDFI Fund) has extended the application deadline for the CDFI Equitable Recovery Program (ERP) round for fiscal year 2022 to Sept. 22, 2022. Additionally, the CDFI Fund will be extending the deadline to submit the OMB Standard Form-424 Mandatory via to Aug. 18, 2022. This extension will provide organizations additional time to undertake a thorough review of the CDFI ERP Application requirements and prepare their Application submissions. The CDFI Fund continues to encourage all fiscal year 2022 applicants to submit their CDFI ERP Applications as soon as possible to ensure a successful submission.

An additional webinar will be held to discuss updates to the Application FAQs, available new materials, and to take additional questions. The CDFI Fund will provide separate information on this upcoming webinar.

In addition to the deadline extensions, the CDFI Fund is also amending the Notice of Funds Availability (NOFA) to clarify eligibility requirements around audited financial statements. Loan funds, venture capital funds, and other Non-Regulated Institution Applicants are required to have audited financial statements for their two most recent historic fiscal years. However, if the audit for the Applicant’s most recent historic fiscal year is not complete as of the due date of the AMIS Application, the Applicant must have audited financial statements for its two historic fiscal years prior to its most recent historic fiscal year. Regulated Institution Applicants that file Call Reports to their regulator are exempt from the requirement to have audits.

Click here to read more, including deadlines and updated guidance.

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