CDFI to delay certification application

The Community Development Financial Institutions Fund announced this week that it will delay the finalization of its CDFI Certification Application to thoroughly consider the comments received in response to the published application.

The Fund plans to make further changes to the application materials, citing that it needs more time to make appropriate adjustments.

This delay will push back the launch of the new application past April 3, 2023.

This decision represents a victory for the joint trades that have been working together on advocacy efforts. The Fund is also making improvements to AMIS to ensure that CDFIs can submit appropriate data and supporting materials. Once the review of comments is complete, the Fund plans to schedule public events to provide updates on the process, implementation steps, and clarifications about the new application.

Existing CDFIs will be given a grace period to comply with the new requirements. The Fund did not provide a new date for the launch of the new application but will provide a revised timeline soon. For more information, visit the original announcement on the CDFI website.