CDFI Fund Releases Application Demand for FY 2020 Round of Capital Magnet Fund
The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) released the application data for the fiscal year (FY) 2020 round of its Capital Magnet Fund program. A total of 137 organizations submitted applications requesting more than $642.2 million in funding. The applicants propose to serve 50 states, the District of Columbia, Guam, and Puerto Rico. In total, 53% of the applicants are certified Community Development Financial Institutions (CDFIs), and the remaining 47% of the applicants are non-profit affordable housing organizations.