Native Initiatives
Program Funding
Annual program obligations reported to SAM.gov.
Funded Projects
Examples of what this program has supported.
Program Objective
To promote economic revitalization and community development through financial and technical assistance to certified and emerging Native Community Development Financial Institutions (CDFIs).
Eligibility
Eligible Applicants
- For-Profit Organization
Only a certified CDFI that demonstrates that at least 50% of its past activities were in one or more Native Communities and describes how it will target its lending/investing activities to one or more Native Communities is eligible to apply for FA awards. Additionally, an organization wishing to apply for an FA award through the NACA Program must have an approved certification Target Market that consists of either an Investment Area or Other Targeted Population that includes a Native Community.
Organizations that are certified CDFIs and non-certified entities, including Sponsoring Entities, seeking to become certified CDFIs that demonstrate they will primarily serve one or more Native Communities as its Target Market may apply for Technical Assistance awards. No awards may be issued to federal agencies, departments or instrumentalities, State governments, local governments, or any agency or instrumentalities thereof.
How to Apply
Award Procedure
The CDFI Fund reviews applications and makes awards based on an established awards review process set forth in the NOFA and application materials.
Application deadlines are from 30 to 60 days subsequent to the NOFA publication date. Award approval or disapproval determinations are typically made within 270 days after the application deadline.
Program details & compliance
Description
Through the use of monetary awards and training opportunities for Native CDFIs, the CDFI Fund’s NACA Program creates jobs, builds businesses, and fosters economic self-determination in Native communities nationwide.
Mission Categories
Primary: Rural Community Development
Other categories:
Economic Development
Use of Funds
Allowed Uses
FA awards enhance the Recipient's ability to provide financial products and services that promote economic revitalization and community development for Native communities and populations. NACA Program FA awards must be expended for activities in the following five categories: (i) Financial Products; (ii) Financial Services; (iii) Loan Loss Reserves; (iv) Development Services; and (v) Capital Reserves. Note: Only Regulated Institutions may use an FA award for Financial Services and Capital Reserves.
TA awards build the Recipient's organizational capacity. NACA Program TA awards must be expended for activities in the following eight categories: (i) Compensation – Personal Services; (ii) Compensation – fringe benefits; (iii) Professional Services Costs; (iv) Travel Costs; (v) Training and Education Costs; (vi) Equipment; (vii) Supplies and (viii) Incorporation Costs (Sponsoring Entities Only).
Required Documentation
An organization wishing to apply for a Financial Assistance (FA) award through the Native American CDFI Assistance (NACA) Program must be a certified CDFI at the time of the publication of the Notice of Funds Availability (NOFA) in the Federal Register, demonstrate that at least 50% of its past activities were in one or more Native Communities, and describe how it will target its lending/investing activities to one or more Native Communities.
Additionally, an organization wishing to apply for an FA award through the NACA Program must have an approved Target Market that consists of either an investment area or Other Targeted Population that includes a Native Community. Organizations that are Certified CDFIs, Emerging CDFIs, or Sponsoring Entities that demonstrate they will primarily serve one or more Native Communities as its Target Market may apply for Technical Assistance (TA) awards. Non-certified organizations must be able to become certified within three years after receiving a TA award. Sponsoring Entities must create an organization that must become certified within four years after receiving the TA award.
Matching Requirements
The Indian Community Economic Enhancement Act of 2020 (Pub. L. 116– 261) permanently waived the Matching Funds requirement for Native American CDFIs, and as a result, Native American CDFI Applicants are not required to provide Matching Funds.
Reporting & Compliance
Applicable 2 CFR 200 Subparts
- Subpart B — General Provisions
- Subpart C — Pre-Federal Award Requirements
- Subpart D — Post-Federal Award Requirements
- Subpart E — Cost Principles
- Subpart F — Audit Requirements