Message from CDFI Fund Director Jodie Harris

The CDFI Fund put out an announcement from Director Jodie Harris today providing more information on the Fund’s plan moving forward during the Coronavirus crisis. The Fund has not yet decided whether to extend deadlines for the upcoming CDFI Program round. Harris encouraged award recipients with questions about compliance, issues with reporting, or other short-term needs to submit a Service Request through AMIS. Her full message is below.

Update from CDFI Fund Director Jodie Harris

I sincerely hope you, your family, and your colleagues are keeping safe during these challenging times. We have heard from many of you about your concerns and the challenges you are currently facing.  We know that the social distancing guidelines and enforced shutdowns around the country have impacted how many of you work and achieve your mission.

The CDFI Fund has also had to adapt during this current crisis. As I mentioned about two weeks ago, the CDFI Fund is operating under the telework guidelines established by the Office of Personnel Management. While this means the way we conduct business has changed, it also means that we are still open for business, and we do not foresee any operational disruptions to our ability to administer our funding rounds on a timely basis.

We have received questions from organizations about upcoming application and compliance deadlines, and if anything is expected to change. We are taking these requests seriously in light of the unprecedented situation many CDFIs find themselves in today. CDFI Fund staff are routinely evaluating our processes and procedures to ensure they are in alignment with day-to-day impediments that organizations are being forced to navigate.

It is important to note that any extensions to the CDFI Fund’s application timelines potentially means a delay in the delivery, deployment, and absorption of capital resources CDFIs critically need for small business operations; affordable housing development; maintaining community facilities; and the origination of small dollar and consumer loans that allow families to make ends meet. As a result, any decision will depend on the CDFI Fund’s ability to provide assistance awards in a timely manner. If any deadlines are adjusted, there will be a public communication.

Many organizations also have short-term compliance reporting requirements as well. The CDFI Fund will review and handle any reporting issues on a case-by-case basis. If you are facing an issue, please contact the Certification, Compliance Monitoring and Evaluation team via an AMIS Service Request. We are working diligently to respond to all inquiries.

CDFIs, CDEs, and mission-based lenders play a vital role in communities across this nation. Our program recipients have had a tremendous impact in steering lending and investment to where it is needed and will matter the most. I am confident that CDFIs and CDEs across the country will build upon their experience working under difficult circumstances to innovate and provide vital loans and investments to their communities during this period and beyond.

Thank you for your important work.

Jodie L. Harris

CDFI Fund Director