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.
| 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.
| 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 |