The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund recently released the Notice of Guarantee Authority (NOGA) opening the FY 2013 application period for the CDFI Bond Guarantee Program. The NOGA makes up to $500 million in bond guarantee authority available to eligible Community Development Financial Institutions (CDFIs) in FY 2013. Through the Bond Guarantee Program, certified CDFIs or their designees will issue bonds that are guaranteed by the Federal government and use the bond proceeds to extend capital within the broader CDFI industry for community development financing and for long-term community investments. The Secretary of the Treasury may guarantee up to five bonds in FY 2013, each at a minimum of $100 million, with a total of up to $500 million in bonds guaranteed. Multiple eligible CDFIs may pool together in a single $100 million minimum bond issuance provided that each eligible CDFI participates at a minimum of $10 million. Qualified Issuer and Guarantee applications must be submitted by 11:59 p.m. EDT on July 17, 2013.

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