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).