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Funding Opportunities Available for 2005, 2006

Rural Community Development Initiative

The Rural Community Development Initiative, a program of the U.S. Department of Agriculture's Rural Housing Service, has $6 million in matching grants available in 2005 for qualified organizations. The funds will go to intermediary organizations that, in turn, will provide financial and technical assistance to organizations involved in community and economic development. The deadline for applications is Jan. 25. For details, visit www.rurdev.usda.gov/HAD-RCDI_Grants.html.

Bank Enterprise Award Program

The Community Development Financial Institutions (CDFI) Fund is accepting applications for its FY 2005 and FY 2006 Bank Enterprise Award (BEA) program. The awards, totaling $4 million in 2005 and $6 million in 2006, will go to federally insured depository institutions wishing to increase their level of loans, investments and technical assistance within distressed communities.

The CDFI Fund will give priority to applicants planning to use the grants for education, housing, home improvement and small business loans. Applicants providing commercial real estate loans and affordable housing development loans also will be considered.

The deadlines to apply are Feb. 14, 2005, and Feb. 14, 2006. For information, call the CDFI Fund at (202) 622-6355. To view the BEA grant notice online, visit www.hudclips.org.

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2015 Federal Reserve System
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