The FY 25 Funds previously on hold ($289 million) were apportioned to Treasury from the Office of Management and Budget (OMB).
As of now, the FY 25 funding for Capital Magnet Fund (CMF) and Emergency Capital Investment Program (ECIP) have not been apportioned to Treasury and more information about the proposed rule to “prevent abuse” of funds is still forthcoming.
On March 14, 2025, an Executive Order was issued by the Administration calling for the elimination of the CDFI Fund. Now, nearly 13 months later, the CDFI Fund has finally received its FY 2025 appropriated funding and can continue its critical work.
This is a major victory for the CDFI industry, and the support you helped build on Capitol Hill over the past year made this outcome possible. This milestone would not have been achieved without your continued advocacy, and we are deeply grateful for the time, energy, and commitment you have invested throughout the past year.