PathStone’s Long History Serving Puerto Rico

PathStone’s Long History Serving Puerto Rico

PathStone Corporation (PathStone) began full-time operations in Puerto Rico soon after Hurricane Georges came ashore in 1998. PathStone’s entry into Puerto Rico was a long wished for dream on the part of the Board of Directors which for many years wanted the organization to offer assistance to farmworkers on the Island. PathStone’s board had, from the beginning of the organization’s founding in 1966, included significant […]

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2017 CDFI Fund Program Awards Announced

2017 CDFI Fund Program Awards Announced

Today the CDFI Fund announced $208.7 in CDFI Fund Program Awards, including: $171.1 million in Financial Assistance and Technical Assistance to 265 organizations in 46 states and the District of Columbia; $22 million to 13 CDFIs through the Healthy Food Financing Initiative Financial Assistance awards (HFFI-FA); and $15.6 million in FY 2017 NACA Program Financial Assistance and Technical Assistance to 38 organizations in 21 states. […]

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The President’s Budget Delivers a Devastating Blow to Economic Development

The President’s Budget Delivers a Devastating Blow to Economic Development

President Trump released his Fiscal Year (FY) 2018 budget today entitled, “America First: A Budget Blueprint to Make America Great Again.” The plan, as was reported a few weeks ago, makes deep cuts or eliminates many programs serving economically distressed rural communities and urban neighborhoods.  The proposal would all but eliminate Treasury’s Community Development Financial Institutions (CDFI) Fund, cutting $210 million and eliminating support for […]

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Has your organization signed the CDFI Fund Appropriations letter?

As you know, the CDFI Fund appropriations are in need of strong congressional support for both Fiscal Year (FY) 2017 and 2018. Reports on the Trump Administration’s “skinny budget” would “all, but eliminate” the CDFI Fund. While nothing is confirmed, the CDFI Coalition is working to demonstrate the importance of these programs to communities nationwide. With that in mind, we are asking organizations, businesses and […]

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2017 CDFI Institute Wrap-Up and Appropriations Update

Last week, the 23rd Community Development Financial Institutions (CDFI) Institute was held in our nation’s capital. The event, hosted by the CDFI Coalition, drew nearly 200 attendees, including community development stakeholders from around the nation. Congressman French Hill (R-AR), CDFI Fund Director Annie Donovan, Senior Treasury Department staff and panels of CDFI experts participated in the Institute. CDFI Fund Director Annie Donovan gave remarks at […]

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Congratulations to the 12 CDFI COALITION MEMBERS who won $41,650,000!

Post authored by Linda Davenport. On September 21, The Community Development Financial Institutions (CDFI) Fund announced its award of $91.5 million in Capital Magnet Fund grants to 32 organizations for the development of affordable housing and other community service facilities. A total of 23 CDFIs and 9 nonprofit housing organizations were given awards. Of the 23 CDFI awardees, 12 are members of the CDFI Coalition. CDFIS […]

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Chairman’s Letter to the Membership

As we begin to stretch into 2016, I have recovered from its newness and have begun to process and project where we’ve been and where we can go. I was pleased and encouraged by this year’s CDFI Institute’s focus on “Planning the Future of CDFIs”.  The sessions were a great conversation on the past and future of the industry and presented pragmatic insight that challenged […]

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2016 CDFI Institute: Planning the Future of the Community Development Financial Institutions

At the 2016 CDFI Institute, attendees discussed where the industry started, its current state and plans for the future of CDFIs Last week, the 22nd Community Development Financial Institutions (CDFI) Institute was held in our nation’s capital. The event, hosted by the CDFI Coalition, drew over 150 community development stakeholders from around the nation. Prominent Members of Congress, Senior Treasury Department staff and panels of […]

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CDFI Fund Opens FY 2016 Funding Round for CDFI Program and NACA Program

CDFI Fund Opens FY 2016 Funding Round for CDFI Program and NACA Program

The NOFAs for the CDFI Fund and NACA Programs were posted on the federal registry this morning and the Fund released the applications this afternoon, opening the FY 2016 Funding Round for both programs. In the spending deal reached in December, Congress appropriated the CDFI Fund $190.5 million in FY 2016 in Financial Assistance (FA) and Technical Assistance (TA) awards to be divided as follows: […]

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Treasury Guarantees $327 Million in Bond Funding for Projects in Low-Income Communities

Treasury Guarantees $327 Million in Bond Funding for Projects in Low-Income Communities

CDFI Fund announced today that an additional nine bond loans, totaling $327 million, were guaranteed in fiscal year (FY) 2015, bringing the total guaranteed to date to $852 million. All of the bond proceeds, provided through the Community Development Financial Institutions Bond Guarantee Program (CDFI Bond Guarantee Program), will provide long-term, fixed rate capital for projects in low-income and underserved communities. “I am very pleased to […]

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