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Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP)

Program Information

Popular name

CDFI Equitable Recovery Program (CDFI ERP)

Program Number

21.033

Program objective

To provide grants to Community Development Financial Institutions (CDFIs) for the following purposes: 1) to expand lending, grant making and investment activities in Low- or Moderate-Income communities and to borrowers that have historically experienced significant unmet capital and financial services needs and were disproportionately impacted by the COVID-19 pandemic; and 2) to enable CDFIs to build organizational capacity and acquire technology, staff, and other tools necessary to accomplish the activities under a CDFI ERP Award.

Program expenditures, by FY (2023 - 2025)

This chart shows obligations for the program by fiscal year. All data for this chart was provided by the administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.

For more information on each of these data sources, please see the About the data page.

Additional program information

  1. 2023

    The CDFI ERP is a new program designed to support the ability of CDFIs to respond to the economic impact of the COVID-19 pandemic. Please visit www.cdfifund.gov for information about accomplishments of other CDFI Fund administered Programs.

Single Audit Applies (2 CFR Part 200 Subpart F):

For additional information on single audit requirements for this program, review the current Compliance Supplement.

OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.

The Consolidated Appropriations Act, 2021 (Section 523 of Division N; Pub. L. 116-260); The Riegle Community Development Banking and Financial Institution Act of 1994 (Pub. L. 103-325; 12 U.S.C. 4701, et seq.); NOFA; and application materials.

Program details

Program types

Eligible beneficiaries

  • Individual/Family
  • Low Income
  • Moderate Income
  • Other private institution/organization
  • Private nonprofit institution/organization
  • Profit organization

Additional resources