CDFI Relending Demonstration Program Application Form
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The Native Community Development Financial Institution's (Native CDFI) Relending Demonstration Program is designed to improve home ownership opportunities for Native American tribes, Alaska Native communities and Native Hawaiian communities in rural areas. The program provides mortgage loan capital to original CDFIs through 33-year loans at one percent interest, with a three-year payment moratorium at the inception of the loan. These demonstration program loans are made to eligible mortgage loan recipients living on tribal land, using at least 20 percent matching funds provided by the parent CDFI.
Who can apply for this program?
Entities certified as Native Community Development Financial Institutions by the U.S. Treasury Secretary can apply for this relending demonstration program.
What is an eligible CDFI area?
- Tribal lands as defined in the Notice of Funding Announcement published in the Federal Register and available on the Native CDFI Relending Demonstration Program webpage.
- Land as defined in the Alaska Native Claims Settlement Act (43 USC 1606(a)
- Hawaiian Homelands as defined in the Native American Housing Assistance and Self-Determination Act of 1996 (25 USC 4221
- Areas designated by the Assistant Secretary – Indian Affairs for the U.S. Department of the Interior as being near – or next to – reservations where financial assistance and social service programs are provided to Indians. For more information, visit the U.S. Department of Interior Indian Affairs.
How can funds be used?
Native CDFI Relending Demonstration Program funds must be used to provide direct loans to recipients to buy, build, rehabilitate, improve, or relocate a primary residence on eligible land. The borrower must use the dwelling as their permanent residence.
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What are some of the loan terms?
- The minimum loan request for the participating Native CDFI is $800,000.
- The participating Native CDFI must provide a 20 percent matching funds contribution.
- Individual loans have terms of 33 years at 1 percent, fixed interest.
- USDA Rural Development will defer principal and interest payments for the first three years of the loan.
- Relending Demonstration loan funds must be provided to individual loan recipients within three years of the loan closing date.
Is there a deadline to apply?
The application deadline is July 17, 2023.
How do we get started?
Application documents are available under the To Apply tab. You can also request paper application packages from USDA Rural Development by sending an email to [email protected].
Native CDFI Relending Demonstration Program Application Form
- The Agency must receive a paper application by 4:30 p.m. local time, July 17, 2023. Application can be mailed to: USDA Rural Development, Washington State Office, Attention: Andria Hively, 1835 Black Lake Blvd. SW, Olympia, WA 98512.
- Electronic submissions:Electronic applications must be submitted via email to brian.h[email protected] by 11:59 p.m. Eastern Time (ET) on July 17, 2023.
- Interest Rates:
- The interest rate will be one percent. Interest and principal payments will be scheduled annually. The initial principal and interest payment will be deferred by the Agency for 3 years. Loan funds must be disbursed and delivered to the ultimate recipients within three years from the date of loan closing.
CDFI Relending Demonstration Program Application Resources & Forms
- Automated Clearing House (ACH) Enrollment Form
- Affirmative Fair Housing Marketing Plan
- Application Certification Federal Collection Policies
- Application For Federal Assistance
- Assurance Agreement Form
- Equal Opportunity Agreement Form
- Letter of Intent to Meet Conditions
- Loan Agreement Form
- Promissory Note Form
- RD Instructions for Form 1940-Q
- Compliance Review Form
- Request for Reimbursement Form
- Request for Obligation of Funds Form
- Security Agreement
What governs this program?
- The Consolidated Appropriations Act of 2023
- The Housing Act of 1949 as amended: 7 CFR, Part 3550
- HB-1-3550 - Direct Single Family Housing Program Field Office Handbook
CERTIFICATION FOR CONTRACTS, GRANTS AND LOANS
- The undersigned certifies, to the best of his or her knowledge and belief,
- 1. No Federal appropriated funds have been paid or will be paid, by or
- on behalf of the undersigned, to any person for influencing or attempting to
- influence an officer or employee of any agency, a Member of Congress, an
- officer or employee of Congress, or an employee of a Member of Congress in
- connection with the awarding of any Federal contract, the making of any
- Federal grant or Federal loan, and the extension, continuation, renewal,
- amendment, or modification of any Federal contract, grant or loan.
- 2. If any funds other than Federal appropriated funds have been paid or
- will be paid to any person for influencing or attempting to influence an
- officer or employee of any agency, a Member of Congress, an officer or
- employee of Congress, or an employee of a Member of Congress in connection
- with this Federal contract, grant or loan, the undersigned shall complete and
- submit Standard Form - LLL, "Disclosure of Lobbying Activities," in accordance
- with its instructions.
- 3. The undersigned shall require that the language of this certification
- be included in the award documents for all subawards at all tiers (including
- contracts, subcontracts, and subgrants under grants and loans) and that all
- subrecipients shall certify and disclose accordingly.
- This certification is a material representation of fact upon which
- reliance was placed when this transaction was made or entered into.
- Submission of this certification is a prerequisite for making or entering into
- this transaction imposed by section 1352, title 31, U.S. Code. Any person who
- fails to file the required certification shall be subject to a civil penalty
- of not less than $10,000 and not more than $100,000 for each such failure.