CDFI CAPITAL MAGNET FUND PROGRAM

The Capital Magnet Fund Program provides grants for financing of affordable housing activities, as well as related economic development activities and community service facilities.
An am applicant must be a Community Development Financial Institution (a “CDFI”) or a “qualified non-profit housing organization” (the “Program Applicant”).
A successful Program Applicant uses its Capital Magnet Fund award to (a) finance affordable housing activities; (b) finance related economic development activities; (c) finance community service facilities; and (d) create financing tools (such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees).