Financial Assistance Program

Financial Assistance (FA) Program Summary Statistics | Additional Analysis

The CDFI Program makes equity, loan and deposit investments, as well as capital and technical assistance grants to new and existing CDFIs. The Fund requires these CDFIs to have strong management and demonstrated successes in serving distressed communities. The CDFIs must also match the Fund’s award at least one-to-one with non-Federal dollars. In FY 2002, the Intermediary component (see next page) was combined with the Core Component. In FY 2003 the name was changed to the Financial Assistance Program.

Summary Statistics

Round Date Notice of Funds Availability (NOFA) Opened Amount Allocated for FA by Fiscal Year Amount Requested (in millions) Number of Organizations Applying Date Awards Announced Amount Awarded (in millions) Number of Awardees**
Round 1 10/19/1995 1996 $300.00 268 8/10/1996 $37.25 32
Round 2 4/4/1997 1997 $193.00 162 9/01/1997 $38.30 48
Round 3 3/20/1998 1998 $169.30 131 9/28/1998 $53.44 42
Round 4 10/26/1998 1999 $184.00 153 10/6/1999 $71.40 78
Round 5 11/1/1999 2000 $264.20 160 10/3/2000 $72.20 75
Round 6 8/14/2000 2001 $215.50 153 9/20/2001 $53.10 59
Round 7 9/24/2001 2002 $199.15 136 8/5/2002 $41.60 51
Round 8 2/4/2003 2003 $106.60 131 10/14/2003 $22.96 34
Round 9 2/26/2004 2004 $124.78 138 9/30/2004 $46.66 68
Round 10*** 11/10/2004 2005 140 9/16/2005 $32.85 48
Round 11 12/5/2005 2006 $146.70 127 8/25/2006 $24.47 52
Round 12 12/21/2005 2007 $138.00 184 9/14/2007 $25.84 49
Round 13 8/29/2007 2008 $200.28 170 8/28/2008 $52.15 66
Round 14**** 8/12/2008 2009 $529 452 10/2/2009 $142.72 121
Round 15 9/28/2009 2010 $460 322 8/19/2010 $102 147
Round 16***** 10/5/2010 2011
TOTAL $611.40 3,230
$819.6 972

* In FY2003, the CDFI Fund renamed its capital grant program the Financial Assistance program. Up until FY 2003, this program had been called the Core program.
** Some CDFIs received a Financial Assistance award in more than one year.
*** Amount requested was not provided in FY2005
**** ARRA provided an additional $90million for the FA program in FY2009
***** Announcements for FY2011 Awardees are to be released early this summer by the CDFI Fund.

Additional Analysis:

Fiscal Year Percentage of Requests Funded (monetary) Percentage of Applicants Receiving Awards Average Award (in millions)
Round 1 1996 12.42% 11.94% $1.16
Round 2 1997 19.84% 29.63% $0.80
Round 3 1998 31.57% 32.06% $1.27
Round 4 1999 38.80% 50.98% $0.92
Round 5 2000 27.33% 46.88% $0.96
Round 6 2001 24.64% 38.56% $0.90
Round 7 2002 20.89% 37.50% $0.82
Round 8 2003 21.54% 25.95% $0.68
Round 9 2004 37.39% 49.28% $0.69
Round 10 2005 34.29% $0.68
Round 11 2006 16.68% 40.94% $0.47
Round 12 2007 18.72% 26.63% $0.53
Round 13 2008 26.04% 38.82% $0.79
Round 14 2009 26.98% 26.77% $1.18
Round 15 2010 22.17% 45.65% $1.4
Round 16 2011
TOTAL 23% 35.85% $0.88