CDFI Fund Opens FY 2020 Capital Magnet Fund Funding Round

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2020 funding round for the Capital Magnet Fund. The FY 2020 Capital Magnet Fund Notice of Funds Availability (NOFA), application, application instructions and related guidance can be found here. The application process consists of two parts: submitting the SF-424 Mandatory form through Grants.gov and submitting the rest of the application through the CDFI Fund’s Awards Management Information System (AMIS).

All applicants must be registered and have active accounts in SAM.gov, Grants.gov and AMIS to apply for funding by the applicable deadlines or their application will be considered ineligible. Organizations should either create these accounts if they don’t already exist or confirm that their existing accounts are up-to-date and active, as soon as possible in order to avoid potential application submission problems.

The deadline for submission of the SF-424 is 11:59 pm ET on June 26, 2020. All applicants must submit their SF-424 electronically through Grants.gov. The CDFI Fund strongly encourages all materials to be submitted through Grants.gov at least three days before the deadline.

The deadline for creating an organizational account in AMIS is 11:59 pm ET on July 2, 2020.

The CDFI Fund will stop taking questions about the application at 5:00 pm ET on July 23, 2020.

The deadline for submission of the Capital Magnet Fund application materials through the CDFI Fund’s Award Management Information System (AMIS) is 5:00 pm ET on July 27, 2020. The CDFI Fund strongly encourages all materials to be submitted through AMIS at least three days before the deadline.

The CDFI Fund is conducting three webinars to inform applicants about the FY 2020 Capital Magnet Fund application. The first two webinars will provide an overview of the application for certified CDFIs and for nonprofit affordable housing organizations; the third will provide a walkthrough of the AMIS application. Please view Step 2: Apply page of the Capital Magnet Fund website for the dates, times and access information for each webinar. Advance registration is not required to participate in the webinars.

For more information on the Capital Magnet Fund, please submit a Service Request through AMIS, or contact the CDFI Fund’s Help Desk by emailing cmf@cdfi.treas.gov or by calling (202) 653-0421. The CDFI Fund will stop responding to questions about the FY 2020 award round at 5:00 pm ET on July 23, 2020.