§4705 Community Partnerships

Summary

A community development financial institution (CDFI) and a local community partner can apply together for help from the Fund to run a community partnership. The application must follow the Fund’s basic CDFI rules (except two specific CDFI criteria do not apply to the community partner). The application must explain what each coapplicant will do, how the partnership will help the target area or people, and how the work fits the CDFI’s strategic plan. The Fund will pick applications based on the CDFI meeting rules in sections 4704 and 4706, how much the partner will take part, whether the partnership makes the CDFI’s plan more likely to succeed, and whether a partnership is better than the CDFI acting alone. Any money awarded will go only to the CDFI, not directly to the partner or its affiliates. Other subchapter rules apply, and the Fund may set extra guidelines or limits.