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Capital Magnet Fund (CMF) is sponsored by Community Development Financial Institutions Fund (U.S. Department of the Treasury). Capital Magnet Fund (CMF) is a competitive grant program from the Community Development Financial Institutions Fund (U. S.
Department of the Treasury) that funds affordable housing development and community facilities serving low-income people and communities.
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## Step 2: Application Process The Notice of Funds Availability (NOFA), instructions, and supplemental materials for the FY 2024 round of the Capital Magnet Fund (CMF) program are below. These materials are intended to help you understand how to apply for a Capital Magnet Fund Award. The application materials listed on this page and the requirements set forth in the NOFA are subject to change for future funding rounds.
Applicants for CMF are required to submit materials through Grants. gov (SF-424) and the CDFI Fund’s Award Management Information System (AMIS). Applicants are advised to review the NOFA, Application Instructions and related materials below.
Applicants are also advised to submit their SF-424 in Grants. gov and create an organizational AMIS account, if they don’t have one already. ### CAPITAL MAGNET FUND OVERVIEW PRESENTATIONS For those preparing to apply for the FY 2024 application round, the Capital Magnet Fund team held a pre-application information session on December 6, 2023.
The presentation and a recording of the session is available below.
* FY 2024 Capital Magnet Fund Overview presentation * FY 2024 Capital Magnet Fund Overview session recording * Getting Ready to Apply to the Capital Magnet Fund Round blog post Additionally, the following six modules provide an overview of various Capital Magnet Fund program topics: * Module 1: Introduction to Capital Magnet Fund * Module 2: Capital Magnet Fund Eligibility & Program Requirements * Module 3: Attracting Capital Through the Capital Magnet Fund * Module 4: A Good Business Strategy is Key * Module 5: Affordable Housing and CMF * Module 6: Economic Development and CMF ### FY 2024 APPLICATION ROUND TIMELINE * For Depository Institution Holding Company Applicants, the Title VI Compliance Worksheet requirement also applies to the Applicant’s Subsidiary Depository Institution.
### FY 2024 APPLICATION WEBINARS The CDFI Fund will conduct four live webinars to answer applicant questions about the FY 2024 Capital Magnet Fund Application. More information about how to access the webinars is available below. All webinars will take place on Zoom.
Use the links below to register in advance for the webinars or access the webinars by clicking the links below five minutes before the webinars begin. Each webinar has a unique link. Advance registration is recommended but not required to participate in the webinars.
Webinar presentations and recordings will be posted after the live webinar. ### FY 2024 APPLICATION MATERIALS Questions regarding the Capital Magnet Fund program may be directed to the CDFI Fund by submitting a Service Request from your Awards Management Information System (AMIS) account. Non-AMIS users may contact the CDFI Fund’s Help Desk by e-mail to cmf@cdfi.
treas. gov; or by phone to (202) 653-0421. Please note this is not a toll free number.
Based on current listing details, eligibility includes: Certified Community Development Financial Institutions (CDFIs) and qualified non-profit housing organizations. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Competitive grants (through 2024, $556.6 million of CMF funding generated $17.6 billion in total project capital) Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
Yes — AI tools like Granted can help research funders, draft proposal sections, and check compliance. However, always review and customize AI-generated content to reflect your organization's unique strengths and the specific requirements of the solicitation.
Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.
Small Dollar Loan Program is a grant program from the Community Development Financial Institutions Fund (U.S. Department of the Treasury) that funds certified CDFIs to expand affordable small-dollar consumer loan products as alternatives to predatory lending in underserved communities. Launched in 2021, the program has awarded over $40.2 million across three funding rounds to help CDFIs scale up responsible lending at the small-dollar level. Eligible applicants are certified Community Development Financial Institutions with a demonstrated track record of serving low-income and underserved borrowers in their communities.
Bank Enterprise Award Program is sponsored by Community Development Financial Institutions Fund (U.S. Department of the Treasury). The BEA Program provides awards to FDIC-insured institutions for increasing their support of CDFIs and advancing their community development activities in distressed communities. These activities promote economic opportunity and impact real lives nationwide.
The Fund for Women & Girls Grant Program is sponsored by The Foundation for Enhancing Communities (TFEC). The Fund for Women & Girls, an initiative of TFEC, makes grants to local nonprofit organizations in specific South Central PA counties. The grants support projects that advance the lives of women and girls by providing opportunities to address basic needs, develop economic self-sufficiency, and strengthen health and safety needs.
VGF grants will be used to develop and/or support community-based entities to recruit, manage, and support volunteers. CNCS seeks to fund effective approaches that expand volunteering, strengthen the capacity of volunteer connector organizations to recruit and retain skill-based volunteers, and develop strategies to use volunteers effectively to solve problems. Specifically, the VGF grants will support efforts that expand the capacity of volunteer connector organizations to recruit, manage, support and retain individuals to serve in high quality volunteer assignments.Applicants that receive funding under this Notice may directly carry out the activities supported under the award, or may carry out the activities by making sub-grants to community-based entities, supporting volunteer generation at these entities.). Funding Opportunity Number: AC-05-25-21. Assistance Listing: 94.021. Funding Instrument: G. Category: O. Award Amount: $6.1M total program funding.