CDFI Bond Guarantee Program
The CDFI Bond Guarantee Program was enacted through the Small Business Jobs Act of 2010 (Public Law 111-240) on September 27, 2010. The legislation directs the Treasury Department to guarantee the full amount of notes or bonds issued to support Community Development Financial Institutions (CDFIs) that make investments for eligible community or economic development purposes. The bonds or notes will support CDFI lending and investment by providing a source of long-term, patient capital to CDFIs. Treasury may guarantee up to 10 bonds per year, each at a minimum of $100 million. The total of all bonds cannot exceed $1 billion per year. The CDFI Bond Guarantee Program is authorized through fiscal year 2014.
Most Recent News on the CDFI Bond Guarantee Program:
- The CDFI Bond Guarantee Program Interim Rule published in the Federal Register on February 5. The rule goes into effect on April 8th and comments on the rule are also due on April 8th.
- CDFI Fund Releases Interim Rule Released for CDFI Bond Guarantee Program