This unique program incentivizes and empowers CDFIs to execute large-scale projects, including the development of commercial real estate, housing units, charter schools, daycare or healthcare centers, and municipal infrastructure. In addition to these projects, eligible CDFIs may use the capital to extend credit to other community development borrowers—or Secondary Borrowers—or refinance existing loans at low interest rates, freeing up capital for additional investments.
By promoting large-scale, long-term investment, the CDFI Bond Guarantee program helps breathe new life into economically underserved areas. State Small Business Credit Initiative. Daily Treasury Bill Rates. Daily Treasury Long-Term Rates. Monthly Treasury Statement. Daily Treasury Statement. National Debt to the Penny. Most Recent Documents. S International Portfolio Investment Statistics. Release Dates. Forms and Instructions.
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Historic Treasury Building. Weekly Public Schedule Archive. Media Advisories Archive. Subscribe to Press Releases. Department of the Treasury announced that it was opening the application process for the Emergency Capital Investment Program ECIP , a new initiative designed to support access to capital in communities traditionally excluded from the financial system and that have struggled the most during the COVID crisis.
The funding will provide long-term, low-cost equity and subordinated debt for participating institutions to support low-and-middle income LMI communities. It will allow people to access capital, especially in communities of color and rural areas.
These programs are designed to provide relief at a moment when many households and small businesses are struggling as a result of the pandemic — and when that pain is not evenly distributed across the country. The American Rescue Plan that President Biden and Vice President Harris have put forward is designed to address that challenge, with measures focused on getting relief to underserved communities, including new emergency grants to help struggling small businesses, investments in state programs that support small business credit, and additional rental assistance to support families trying to stay in their homes.
As the Biden-Harris administration works with Congress to pass that plan, Treasury is taking steps with its existing authorities to provide support to those who need it. In addition to the Emergency Capital Investment Program, Treasury is also implementing two other complementary programs:.
Taken together, these three programs, created under the Consolidated Appropriations Act, , enable Treasury to take aggressive action to address the impacts of the ongoing COVID pandemic, and to promote an equitable economic recovery. These historic investments are intended to provide catalytic growth for institutions and communities that have traditionally been underserved by the financial sector. About Treasury About Treasury. Policy Issues.
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