The Native American Community Development Financial Institutions (CDFI) Assistance (NACA) Program is a competitive award program through which financial assistance and technical assistance awards are given to invest in and build the capacity of Native CDFIs that serve Native communities lacking adequate access to affordable financial products and services. The CDFI Fund defines “Native Communities” as Native American, Alaska Native, and Native Hawaiian communities. Financial Assistance (FA) awards support the financing activities of Native CDFIs certified by the CDFI Fund, and are provided in the form of loans, grants, deposits, and equity investments. The awardee is required to match the CDFI Fund’s award dollar-for-dollar with funds from a non-federal source. Technical Assistance (TA) grants may be used to acquire products and services, and are typically awarded to Native Communities seeking to start a new Native CDFI or to increase the capacity of an existing CDFI.
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Business Eligibility for CDFI Programs:
Eligibility for the financial products and services offered by Community Development Financial Institutions (CDFIs) is determined by each CDFI based on the needs of the targeted communities and populations that they serve.
CDFI Entity Eligibility for Development Programs:
Native American CDFI Applicants may apply as either a Financial Assistance (FA) applicant or a Technical Assistance (TA) applicant, but not both. If an Applicant applies for both types of awards, it is in the sole discretion of the CDFI Fund to disqualify the Applicant from competing for either an FA award or a TA grant or to decide to give the Applicant either an FA award or a TA grant.
To be eligible for a FA award, the Applicant must be a certified/certifiable Native CDFI and can apply for up to and including $750,000 in FA funds. To be eligible for a TA grant, the Applicant must be a certified Native CDFI, a certifiable Native CDFI, an emerging Native CDFI, or a Sponsoring Entity, and can apply for up to $150,000 for capacity-building activities.