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Notice2022-10526

Community Development Financial Institutions Fund Notice of Funds Availability (NOFA) Inviting Applications for the Fiscal Year (FY) 2022 Funding Round of the Small Dollar Loan Program (SDLP)

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Published

May 17, 2022

Issuing agencies

Treasury Department

Abstract

The Small Dollar Loan Program (SDL Program) is administered by the Community Development Financial Institutions Fund (CDFI Fund). Through the SDL Program, the CDFI Fund provides (1) grants for Loan Loss Reserves (LLR) to enable a Certified Community Development Financial Institution (CDFI) establish a loan loss reserve fund in order to cover the losses on small dollar loans associated with starting a new small dollar loan program or expanding an existing small dollar loan program; and (2) grants for Technical Assistance (TA) for technology, staff support, and other eligible activities to enable a Certified CDFI to establish and maintain a small dollar loan program. All awards provided through this Notice of Funds Availability (NOFA) are subject to funding availability.

Full Text

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<title>Federal Register, Volume 87 Issue 95 (Tuesday, May 17, 2022)</title>
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[Federal Register Volume 87, Number 95 (Tuesday, May 17, 2022)]
[Notices]
[Pages 30001-30017]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-10526]

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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund Notice of Funds
Availability (NOFA) Inviting Applications for the Fiscal Year (FY) 2022
Funding Round of the Small Dollar Loan Program (SDLP)

Funding Opportunities: Small Dollar Loan Program; 2022 Funding
Round.

[[Page 30002]]

Funding Opportunity Title: Notice of Funds Availability (NOFA)
inviting Applications for the fiscal year (FY) 2022 Funding Round of
the Small Dollar Loan Program (SDL Program).
Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2022-SDL.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.025.
Dates:

Table 1--FY 2022 Small Dollar Loan Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (eastern time--ET) Submission method
----------------------------------------------------------------------------------------------------------------
OMB Standard Form (SF)-424 June 15, 2022.............. 11:59 p.m.................. Electronically via
Mandatory form. <a href="http://Grants.gov">Grants.gov</a>.
Last day to enter the Employer June 15, 2022.............. 11:59 p.m.................. Electronically via
Identification Number (EIN) and Awards Management
Unique Entity Identifier (UEI) Information System
numbers in AMIS. (AMIS).
Last day to contact SDL Program July 13, 2022.............. 5:00 p.m................... Service Request via
Staff. AMIS or CDFI Fund
Helpdesk: 202-653-
0421 or
<a href="/cdn-cgi/l/email-protection#6a190e061a2a090e0c03441e180f0b19440d051c">[email&#160;protected]</a>.
Last day to contact the Office of July 13, 2022.............. 5:00 p.m................... CCME Helpdesk: 202-
Compliance Monitoring and 653-0423 or
Evaluation (CME) and Office of Compliance and
Certification Policy and Reporting AMIS
Evaluation (CPE) staff. Service Request.
Last day to contact IT Help desk July 15, 2022.............. 5:00 p.m................... CDFI Fund IT
re AMIS support and Application Helpdesk: 202-653-
submission. 0422 or IT AMIS
Service Request.
SDL Program Application and July 15, 2022.............. 5:00 p.m................... Electronically via
Required Attachments. AMIS.
----------------------------------------------------------------------------------------------------------------

Executive Summary: The Small Dollar Loan Program (SDL Program) is
administered by the Community Development Financial Institutions Fund
(CDFI Fund). Through the SDL Program, the CDFI Fund provides (1) grants
for Loan Loss Reserves (LLR) to enable a Certified Community
Development Financial Institution (CDFI) establish a loan loss reserve
fund in order to cover the losses on small dollar loans associated with
starting a new small dollar loan program or expanding an existing small
dollar loan program; and (2) grants for Technical Assistance (TA) for
technology, staff support, and other eligible activities to enable a
Certified CDFI to establish and maintain a small dollar loan program.
All awards provided through this Notice of Funds Availability (NOFA)
are subject to funding availability.

I. Program Description

A. Authorizing Statute: The SDL Program is authorized by Title
XII--Improving Access to Mainstream Financial Institutions Act of the
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Pub.
L. 111-203), which amended the Riegle Community Development Banking and
Financial Institutions Act of 1994 (Pub. L. 103-325) to include the SDL
Program (12 U.S.C. 4719). For a complete understanding of the program,
the CDFI Fund encourages Applicants to review the SDL Program funding
application (referred to hereafter as the ``Application,'' meaning the
application submitted in response to this NOFA) and the Uniform
Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (2 CFR part 1000), which is the Department of the
Treasury's codification of the Office of Management and Budget (OMB)
government-wide framework for grants management at 2 CFR part 200
(Uniform Requirements). Each capitalized term used in this NOFA, but
not defined herein, shall have the respective meanings assigned to them
in the Application or the Uniform Requirements. Details regarding
Application content requirements are found in the Application and
related materials at <a href="http://www.cdfifund.gov/sdlp">www.cdfifund.gov/sdlp</a>.
B. History: The CDFI Fund was established by the Riegle Community
Development and Regulatory Improvement Act of 1994 to promote economic
revitalization and community development through investment in and
assistance to CDFIs. Since its creation in 1994, the CDFI Fund has
provided more than $5.2 billion through a variety of monetary awards
programs to CDFIs, community development organizations, and financial
institutions. In addition, the CDFI Fund has allocated $66 billion in
tax credit allocation authority to Community Development Entities
through the New Markets Tax Credit Program (NMTC Program), and has
guaranteed more than $1.8 billion in bonds through the CDFI Bond
Guarantee Program.
C. Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards: The Uniform Requirements codify
financial, administrative, procurement, and program management
standards that Federal award-making agencies must follow. Per the
Uniform Requirements, when evaluating Applications, awarding agencies
must evaluate the risks to the program posed by each Applicant, and
each Applicant's merits and eligibility. These requirements are
designed to ensure that Applicants for Federal assistance receive a
fair and consistent review prior to an award decision. This review will
assess items such as the Applicant's financial stability, quality of
management systems, history of performance, and single audit findings.
In addition, the Uniform Requirements include guidance on audit
requirements and other award compliance requirements for award
Recipients.
D. Priorities: The purpose of the SDL Program is to provide grants
for LLR and TA to qualified organizations to establish and maintain
small dollar loan programs that are safe, affordable, and responsible.
SDL Program funding is intended to expand consumer access to financial
institutions by providing alternatives to high cost small dollar
lending. The SDL Program funding is also intended to help unbanked and
underbanked populations build credit, access affordable capital, and
allow greater access into the mainstream financial system. To pursue
these objectives, the CDFI Fund will prioritize funding for
Applications that propose to offer small dollar loan programs that
include any of the following characteristics: (1) Offer small dollar
loan terms that are at least ninety (90) days; (2) use ability to repay
underwriting that considers the borrower's ability to repay a loan
based on both the borrower's income and

[[Page 30003]]

expenses; (3) make loan decisions within one business day (or twenty-
four (24) hours) after receipt of required documents; (4) offer a
reduction in the borrower's loan rate if the borrower elects to use
automatic debit payments; (5) offer automatic savings features that are
built into the regularly-scheduled payments on a loan--provided that
the resulting payment is still affordable--or, at a minimum, loans that
can be structured so that, subject to the borrower's consent, payments
continue for a period of time after the loan is repaid with all of the
payments going into a savings vehicle; and (6) offer access to
financial education, including credit counseling, particularly if the
Applicant offers financial education programs that are used as
substitutes for late fees and overdraft fees when borrowers are at risk
of incurring a late fee or overdraft fee.
E. Funding limitations:
1. The CDFI Fund reserves the right to fund, in whole or in part,
any, all, or none of the Applications submitted in response to this
NOFA.
2. Prohibited Practices: SDL Program Awards may not be used to
support small dollar loan programs that have any of the lending
practices and loan characteristics listed in Table 2.

Table 2--SDL Program Prohibited Practices
------------------------------------------------------------------------
Prohibited practice Prohibited practice definition
------------------------------------------------------------------------
i. High-Rate loans........... Loans that exceed the lower of an all-
inclusive 36% APR or the interest rate
limit as set by the state agency that
oversees financial institutions in your
state.
ii. Coerced automated Loans that: (1) Have delayed loan
repayments. disbursements for borrowers who do not
agree to automatic repayments, (2)
charge fees for borrowers who select
manual payments, or (3) require
borrowers to make payments using wire
transfers or other means that may result
in additional fees for borrowers.
iii. Excessive refinancing... Loans that allow refinancing before at
least 80% of the principal has been
repaid.
iv. Loan insurance or credit Loans that offer add-on insurance or
card add-ons. credit card products, whether they are
automatic or not, that require borrowers
to opt-in or opt-out to decline
coverage, or require the borrower to
accept or opt-out of a credit card. For
example, loans that automatically
include insurance products such as
credit, life, disability insurance or
involuntary unemployment insurance
coverage, or loans that automatically
open a credit card for the borrower.
v. Security interests in Loans that are secured, except for loans
household goods, vehicles, secured by a savings account for loans
or deposit accounts. with a savings component or credit
Exception: Loans with a builder loans.
savings account component or
credit builder loans.
vi. Excessive late fees on Loans that charge more than one fee per
missed loan payments. late payment.
vii. Abusive overdraft Loans that charge more than one overdraft
practices. fee per month. Loans that have posting
practices delaying credit for payments
that result in overdrafts and fees.
Loans that charge overdraft fees more
than six times per year.
viii. Aggressive debt Loans in which the lender:
collection practices.
<bullet> Does not offer a workout
program or other accommodations to
help struggling borrowers before
pursuing other debt collection
avenues.
<bullet> All debt collection
activities must comply with the Fair
Debt Collection Practices Act,
whether conducted by the lender, a
contract debt collector or sold to
third party debt collectors.
<bullet> Does not disclose to
borrowers the details of its debt
collection practices or provide
notice to a borrower when its account
is placed with debt collectors.
ix. Forced arbitration clause Loan contracts that contain mandatory
and class action ban. arbitration clauses that prevent
borrowers from seeking legal remedies in
court or participating in a class action
lawsuit.
------------------------------------------------------------------------

F. SDL Program Statutory Requirements:
1. SDL Program Awards may not be used to provide direct loans to
consumers.
2. SDL Program Awards may only be used to support small dollar loan
programs that offer small dollar loans to consumers that:
(a) Are made in amounts that do not exceed $2,500;
(b) must be repaid in installments;
(c) have no prepayment penalty;
(d) have payments that are reported to a least one of the consumer
reporting agencies that compiles and maintains files on consumers on a
nationwide basis; and
(e) are underwritten with standards that consider the consumer's
ability to repay.

II. Federal Award Information

A. Funding Availability: The CDFI Fund expects to award, through
this NOFA, up to $11.1 million, as indicated in the following table:

Table 3--SDL Program Anticipated Award Amounts
------------------------------------------------------------------------
Award amount
Eligible awards ----------------------------------------
Minimum Maximum
------------------------------------------------------------------------
Loan Loss Reserves............. $20,000 Up to 20% of the
Applicant's 3 year
Projected Total On-
Balance Sheet Small
Dollar Loans to be
closed, not to exceed
$350,000.
Technical Assistance........... 10,000 $150,000.
Combination of Loan Loss 30,000 $500,000 (Up to 20% of
Reserves and Technical the Applicant's 3 year
Assistance. Projected Total On-
Balance Sheet Small
Dollar Loans to be
closed, not to exceed
$350,000 plus
$150,000).
------------------------------------------------------------------------

[[Page 30004]]

Eligible Applicants may submit only one SDL Program Application and
therefore will need to determine if they are applying for an LLR grant,
a TA grant, or both. The CDFI Fund reserves the right to award more or
less than the amounts cited above in each category, based upon
available funding and other factors, as appropriate.
B. Types of Awards: The CDFI Fund will provide SDL Program Awards
for LLR or TA in the form of grants to support the eligible activities
as set forth in this NOFA and Application.
C. Anticipated Start Date and Period of Performance: The Period of
Performance for each SDL Program Award begins with the date that the
CDFI Fund announces the Recipients of the FY 2022 SDL Program Awards
and includes a Recipient's three full consecutive fiscal years after
the date of the Award announcement, during which time the Recipient
must meet the Performance Goals and Measures (PG&Ms) set forth in the
Assistance Agreement. The Budget Period for an SDLP Award is the same
as the Period of Performance.
D. Eligible Activities: An SDL Program Award must support or
finance activities to establish and maintain small dollar loan programs
that are safe, affordable, and responsible. SDL Program Awards may only
be used as follows:
1. Loan Loss Reserves: Loan Loss Reserve (LLR) Awards must be set
aside in the form of cash reserves, or through accounting-based accrual
reserves, to cover losses on small dollar loans. LLR Awards may be used
to mitigate losses on a new or established small dollar loan program.
LLR Award Recipients must meet Performance Goals and Measures, which
will be derived from projections and attestations provided by the
Applicant in its Application, prior to the end of the Period of
Performance.
2. Technical Assistance: TA Awards may be used for technology,
staff support, and other costs associated with establishing and
maintaining a small dollar loan program as listed in Table 4. The seven
eligible activity categories are: (i) Compensation--Personal Services;
(ii) Professional Service Costs; (iii) Travel Costs; (iv) Training and
Education Costs; (v) Equipment; (vi) Supplies; and (vii) Development
Services. The TA Award must be expended in the seven eligible activity
categories before the end of the Period of Performance. None of the
eligible activity categories are authorized for indirect costs or an
associated indirect cost rate. Any expenses that are prohibited by the
Uniform Requirements are unallowable and are generally found in Subpart
E-Cost Principles.
SDL Program Recipients must meet certain PG&Ms which will require
the Recipient to expend the SDL Program Award on eligible activities
and close small dollar loans.
(i)(a) LLR Award Recipients that will use the SDL Program Award to
start a new small dollar loan program must expend 50% of the
Recipient's first payment amount by the end of the second year of the
Period of Performance for loan loss reserves for a new small dollar
loan program and expend 100% of the total award amount by the Period of
Performance end date for loan loss reserves for a new small dollar loan
program. LLR Award Recipients that will use the SDL Program Award to
expand an existing small dollar loan program must expend 75% of the
Recipient's first payment amount by the end of the first year of the
Period of Performance for loan loss reserves to expand an existing
small dollar loan program and expend 100% of the total Award amount by
the Period of Performance end date for loan loss reserves to expand an
existing small dollar loan program.
(i)(b) TA Award Recipients that will use the SDL Program Award to
start a new small dollar loan program must expend 50% of the
Recipient's first payment amount by the end of the second year of the
Period of Performance on eligible activities to start a new small
dollar loan program and expend 100% of the total Award amount by the
Period of Performance end date on eligible activities to start a new
small dollar loan program. TA Award Recipients that will use the SDL
Program Award to expand an existing small dollar loan program must
expend 75% of the Recipient's first payment amount by the end of the
first year of the Period of Performance on eligible activities to
expand an existing small dollar loan program and expend 100% of the
total Award amount by the Period of Performance end date on eligible
activities to expand an existing small dollar loan program.
(ii) All SDL Program Award Recipients must close small dollar loans
based on the three-year projected small dollar loan total to be closed
as proposed in the Application, demonstrating an increase in lending.
This amount may be adjusted based on Award size.
Final PG&Ms may differ and will be set forth in the final SDL
Program Assistance Agreement.
For purposes of this NOFA, the seven eligible TA activity
categories are defined below:

Table 4--Eligible Technical Assistance Activity Categories, Subject to
the Applicable Provisions of the Uniform Requirements
------------------------------------------------------------------------

------------------------------------------------------------------------
(i) Compensation --Personal TA paid to cover all remuneration, paid
Services. currently or accrued, for services of
Applicant's employees related to
establishing or maintaining the
Applicant's small dollar loan program
rendered during the Period of
Performance under the TA grant in
accordance with section 200.430 of the
Uniform Requirements.
Any work performed directly, but
unrelated to the purposes of the TA
grant may not be paid as Compensation
through a TA grant. For example, the
salaries for building maintenance are
not related to the purpose of a TA grant
and would be deemed unallowable.
(ii) Professional service TA used to pay for professional and
costs. consultant services (e.g., such as
strategic and marketing plan
development) related to establishing or
maintaining the Applicant's small dollar
loan program, rendered by persons who
are members of a particular profession
or possess a special skill (e.g., credit
analysis, portfolio management), and who
are not officers or employees of the
Applicant, in accordance with section
200.459 of the Uniform Requirements.
Payment for a consultant's services may
not exceed the current maximum of the
daily equivalent rate paid to an
Executive Schedule Level IV Federal
employee.

[[Page 30005]]

(iii) Travel costs........... TA used to pay costs of transportation,
lodging, subsistence, and related items
incurred by the Applicant's personnel
who are on travel status on business
related to establishing or maintaining
the Applicant's small dollar loan
program, in accordance with section
200.475 of the Uniform Requirements.
Travel costs do not include costs
incurred by the Applicant's consultants
who are on travel status. Any payments
for travel expenses incurred by the
Applicant's personnel but unrelated to
carrying out the purpose of the TA grant
would be deemed unallowable. As such,
documentation must be maintained that
justifies the travel as necessary to the
TA grant.
(iv) Training and education TA used to pay the cost of training and
costs. education provided by the Applicant for
employees' development in accordance
with section 200.473 of the Uniform
Requirements. TA can only be used to pay
for training costs incurred by the
Applicant's employees related to
establishing or maintaining the
Applicant's small dollar loan program.
Training and education costs may not be
incurred by the Applicant's consultants.
(v) Equipment................ TA used to pay for tangible personal
property, having a useful life of more
than one year and a per-unit acquisition
cost of at least $5,000, as defined in
the Uniform Requirements, related to
establishing or maintaining the
Applicant's small dollar loan program.
For example, items such as information
technology systems are allowable as
Equipment costs. The Applicant must
comply, as applicable, with the Buy
American Act of 1933, 41 U.S.C. 8301-
8303 with respect to the purchase of
Equipment.
(vi) Supplies................ TA used to pay for tangible personal
property with a per unit acquisition
cost of less than $5,000, as defined in
the Uniform Requirements, related to
establishing or maintaining the
Applicant's small dollar loan program.
For example, a desktop computer costing
$1,000 is allowable as a Supply cost.
The Applicant must comply, as
applicable, with the Buy American Act of
1933, 41 U.S.C. 8301-8303 with respect
to the purchase of Supplies.
(vii) Development Services... TA used to pay for activities undertaken
by an Applicant that prepares or assists
current or potential borrowers to use
the Applicant's small dollar loan
program. For example, such activities
include financial education, including
credit counseling.
------------------------------------------------------------------------

E. Persistent Poverty Counties: Pursuant to the Consolidated
Appropriations Act, 2021 (Pub. L. 116-260) and Consolidated
Appropriations Act, 2022 (Pub. L. 117-103), Congress mandated that at
least 10% of the CDFI Fund's appropriations be directed to counties
that meet the criteria for ``Persistent Poverty'' designation.
Persistent Poverty Counties (PPCs) are defined as any county, including
county equivalent areas in Puerto Rico, that has had 20% or more of its
population living in poverty over the past 30 years, as measured by the
1990 and 2000 decennial censuses, and the 2011-2015 5-year data series
available from the American Community Survey of the Census Bureau, or
any other territory or possession of the United States that has had 20%
or more of its population living in poverty over the past 30 years, as
measured by the 1990, 2000 and 2010 Island Areas Decennial Censuses, or
equivalent data, of the Bureau of the Census and published by the CDFI
Fund at: <a href="https://www.cdfifund.gov/Documents/PPC%20updated%20Oct.2017.xlsx">https://www.cdfifund.gov/Documents/PPC%20updated%20Oct.2017.xlsx</a>. To comply with this mandate, the CDFI
Fund will prioritize funding to Applicants that have headquarters (as
stated in the Applicant's Application) located in PPCs.

III. Eligibility Information

A. Eligible Applicants: In order to be eligible to apply for an SDL
Program Award, Eligible Applicants are as follows:
1. For LLRs:
(a) A Certified Community Development Financial Institution (CDFI);
or
(b) a partnership between a Certified CDFI and a Federally Insured
Depository Institution \1\ (FIDI) with a primary mission to serve
targeted Investment Areas \2\.
---------------------------------------------------------------------------

\1\ A ``federally insured depository institution'' is any
insured depository institution as that term is defined in section 3
of the Federal Deposit Insurance Act (12 U.S.C. 1813) and any
insured credit union as that term is defined in section 101 of the
Federal Credit Union Act (12 U.S.C. 1752).
\2\ 12 U.S.C. 4702(16), Investment Area--The term ``investment
area'' means a geographic area (or areas) including an Indian
reservation that--
(A)(i) meets objective criteria of economic distress developed
by the Fund, which may include the percentage of low-income families
or the extent of poverty, the rate of unemployment or
underemployment, rural population outmigration, lag in population
growth, and extent of blight and disinvestment; and (ii) has
significant unmet needs for loans or equity investments; or
(B) encompasses or is located in an empowerment zone or
enterprise community designated under section 1391 of the Internal
Revenue Code of 1986.
---------------------------------------------------------------------------

2. For TA:
(a) A Certified CDFI; or
(b) a partnership between two or more Certified CDFIs.
3. For Combination of LLR and TA:
(a) A Certified CDFI.
Eligible Applicants may submit only one SDL Program Application and
therefore will need to determine if they are eligible and applying for
LLR, TA, or both.
For purposes of the Application, the term ``Applicant'' refers to
an organization applying on its own as a Certified CDFI or refers to
the designated lead Certified CDFI applying on behalf of a partnership.
The Applicant must use the SDL Program Award to establish or maintain a
small dollar loan program. In the case of a partnership, the designated
lead Certified CDFI must use the SDL Program Award to establish or
maintain a small dollar loan program.
B. Additional Guidance on Applicants Applying as Partnerships: The
partnership must designate a lead Certified CDFI for the partnership
that will submit the Application. This designated lead Certified CDFI
will also submit a written partnership agreement (e.g., Memorandum of
Understanding) detailing roles and responsibilities of the partners,
partner replacement or substitution restrictions, any financial
contributions and profit sharing arrangements, and performance
requirements for the entities in the partnership.
A partner may be a FIDI, if the partnership is applying for an LLR
Award, or a Certified CDFI, if the partnership is applying for a TA
Award. A partner may not apply for its own Award under the FY 2022 SDL
Program funding round or apply as a partner for more than one
Application submitted under the FY 2022 SDL Program funding round. A
partnership is a formal arrangement, as evidenced by a

[[Page 30006]]

written partnership agreement (e.g., Memorandum of Understanding),
between a Certified CDFI and a FIDI or between two or more Certified
CDFIs. The partnership must be designed to accomplish one or more of
the strategic goals discussed in the Business Strategy and Community
Impact section of the SDL Applicant's Application and be integral to
the successful completion of the Applicant's strategic goal(s). The
partnership should be such that the Applicant's strategic goal(s) would
not be achievable without the direct input and/or assistance of the
partner. An Applicant that collaborates or coordinates with a FIDI or a
CDFI to achieve the strategic goals detailed in the Application is not
required to apply as a partnership. Applicants that apply as a
partnership will be evaluated based on the same criteria as Applicants
that apply without a partnership. If selected to receive an SDL Program
Award, the lead Certified CDFI Recipient will be solely responsible for
carrying out the activities described in its Application and complying
with the terms and conditions of the Assistance Agreement. The
partner(s) will not be a co-Recipient of the award. As such, the lead
Certified CDFI Recipient will be prohibited from using the SDL Program
Award to fund any activity carried out directly by the partner or an
Affiliate or Subsidiary thereof. Examples of partnerships include the
following:

Applying as a Partnership

Example 1: ABC Certified CDFI has a strategic goal of increasing
its small dollar lending by X% over X number of years. ABC Certified
CDFI will request an SDL Program Award for LLR to mitigate losses on
the small dollar loans it provides as it seeks to expand its small
dollar loan program. ABC Certified CDFI has a Partnership Agreement in
place with a local FIDI in which the FIDI will refer all small dollar
loan candidates to ABC Certified CDFI to expand ABC Certified CDFI's
small dollar loan program. ABC Certified CDFI will explain in its
narrative and Partnership Agreement how a SDL Program Award for LLRs
and the referrals from the local FIDI partner will ensure that its
strategic goal of increasing small dollar lending is achieved.
Example 2: XYZ Certified CDFI has a strategic goal to provide a new
small dollar loan product. XYZ Certified CDFI will request a SDL
Program Award for TA to upgrade its technology systems to support a new
small dollar loan product. XYZ Certified CDFI has a Partnership
Agreement in place with a Certified CDFI that will provide free
financial counseling services to the XYZ Certified CDFI's small dollar
loan Applicants. XYZ Certified CDFI chooses to apply as a partnership
with the Certified CDFI as its partner. XYZ Certified CDFI will explain
in its narrative and Partnership Agreement how a SDL Program Award for
TA and the financial counseling provided to potential borrowers will
support the growth of the new small dollar loan program.

Note: A Certified CDFI Depository Institution Holding Company
Applicant that intends to carry out the activities of an Award
through its Subsidiary Certified CDFI Insured Depository Institution
should not apply as a partnership. Instead, the Certified CDFI
Depository Institution Holding Company should apply as a sole
entity. Table 5 indicates the criteria that each Application must
meet in order to be eligible for an SDL Program Award pursuant to
this NOFA.

Table 5--Eligibility Requirements for SDL Program Applicants
------------------------------------------------------------------------

------------------------------------------------------------------------
All Applicants............... <bullet> Must be a Certified CDFI as set
forth in 12 CFR 1805.201 and the CDFI
Fund has officially notified the entity
that it meets all CDFI Certification
requirements as of the publication date
of this NOFA.
[cir] The CDFI Fund will consider an
Application submitted by an Applicant
that has pending noncompliance issues
with its Annual Certification and
Data Collection Report if the CDFI
Fund has not yet made a final
compliance determination.
[cir] If a Certified CDFI loses its
certification at any point prior to
the award announcement, the
Application will be deemed ineligible
and no longer be considered for an
Award by the CDFI Fund.
<bullet> The financial information in the
Application (including any uploaded
attachments) should only reflect the
activities of the entity that will carry
out the proposed award activities. Do
not include financial or portfolio
information from parent companies,
Affiliates, or Subsidiaries in the
Application. Also, do not include
financial or portfolio information from
partner entities, if the Applicant is
applying as a partnership.
<bullet> An Applicant that applies on
behalf of another organization will be
rejected without further consideration,
other than Depository Institution
Holding Companies (see below).
FIDI Partner................. <bullet> Is not required to be a
Certified CDFI.
<bullet> Must have a primary mission to
serve targeted Investment Areas.
Application and submission <bullet> Applicants must submit the
overview through <a href="http://Grants.gov">Grants.gov</a> Required Application Documents listed in
and Awards Management Table 6.
Information System (AMIS). <bullet> The CDFI Fund will only accept
Applications that use the official
Application templates provided on the
<a href="http://Grants.gov">Grants.gov</a> and AMIS websites.
Applications submitted with alternative
or altered templates will not be
considered.
<bullet> Applicants undergo a two-step
process that requires the submission of
Application documents by two separate
deadlines in two different locations:
(1) The SF-424 in <a href="http://Grants.gov">Grants.gov</a> and (2) all
other Required Application Documents in
AMIS.
<bullet> <a href="http://Grants.gov">Grants.gov</a> and the Standard Form
424 (SF-424):
[cir] <a href="http://Grants.gov">Grants.gov</a>: Applicants must
submit the SF-424, Application for
Federal Assistance.
[cir] All Applicants must register in
the <a href="http://Grants.gov">Grants.gov</a> system to successfully
submit an Application. The CDFI Fund
strongly encourages Applicants to
register as soon as possible.
[cir] The CDFI Fund will not extend
the SF-424 application deadline for
any Applicant that started the
<a href="http://Grants.gov">Grants.gov</a> registration process on,
before, or after the date of the
publication of this NOFA, but did not
complete it by the deadline, except
in the case of a Federal government
administrative or Federal
technological error that directly
resulted in a late submission of the
SF-424.
[cir] The SF-424 must be submitted in
<a href="http://Grants.gov">Grants.gov</a> on or before the deadline
listed in Table 1 and Table 6.
Applicants are strongly encouraged to
submit their SF-424 as early as
possible in the <a href="http://Grants.gov">Grants.gov</a> portal.
[cir] The deadline for the <a href="http://Grants.gov">Grants.gov</a>
submission is before the AMIS
submission deadline.

[[Page 30007]]

[cir] The SF-424 must be submitted
under the SDL Program Funding
Opportunity Number for the SDL
Program Application.
[cir] If the SF-424 is not accepted by
<a href="http://Grants.gov">Grants.gov</a> by the deadline, the CDFI
Fund will not review any material
submitted in AMIS and the Application
will be deemed ineligible.
<bullet> AMIS and all other Required
Application Documents listed in Table 6:
[cir] AMIS is an enterprise-wide
information technology system.
Applicants will use AMIS to submit
and store organization and
Application information with the CDFI
Fund.
[cir] Applicants are only allowed one
SDL Program Application submission in
AMIS.
[cir] Each Application in AMIS must be
signed by an Authorized
Representative.
[cir] Applicants must ensure that the
Authorized Representative is an
employee or officer of the Applicant,
authorized to sign legal documents on
behalf of the organization.
Consultants working on behalf of the
organization may not be designated as
Authorized Representatives.
[cir] Only the Authorized
Representative or Application Point
of Contact, included in the
Application, may submit the
Application in AMIS.
[cir] All Required Application
Documents must be submitted in AMIS
on or before the deadline specified
in Tables 1 and 6.
[cir] The CDFI Fund will not extend
the deadline for any Applicant except
in the case of a Federal government
administrative or Federal
technological error that directly
resulted in the late submission of
the Application in AMIS.
Employer Identification <bullet> Applicants must have a unique
Number (EIN). EIN assigned by the Internal Revenue
Service (IRS).
<bullet> The CDFI Fund will reject an
Application submitted with the EIN of a
parent or Affiliate organization.
<bullet> The EIN in the Applicant's AMIS
account must match the EIN in the
Applicant's System for Award Management
(SAM) account. The CDFI Fund reserves
the right to reject an Application if
the EIN in the Applicant's AMIS account
does not match the EIN in its SAM
account.
<bullet> Applicants must enter their EIN
into their AMIS profile by the deadline
specified in Tables 1 and 6.
Unique Entity Identifier <bullet> The transition from the Dun and
(UEI). Bradstreet Universal Numbering System
(DUNS) to UEI is a federal, government-
wide initiative.
<bullet> The CDFI Fund will reject an
Application submitted with the UEI
number of a parent or Affiliate
organization.
<bullet> The UEI number in the
Applicant's AMIS account must match the
UEI number in the Applicant's <a href="http://Grants.gov">Grants.gov</a>
and SAM accounts. The CDFI Fund will
reject an Application if the UEI number
in the Applicant's AMIS account does not
match the UEI number in its <a href="http://Grants.gov">Grants.gov</a>
and SAM accounts.
<bullet> Applicants must enter their UEI
number into their AMIS profile on or
before the deadline specified in Tables
1 and 6.
<bullet> For Applicants applying as a
partnership, the UEI number of the
designated lead Certified CDFI Applicant
in AMIS must match the UEI number on the
SF-424 submitted through <a href="http://Grants.gov">Grants.gov</a>.
System for Award Management <bullet> SAM is a web-based, government-
(SAM). wide application that collects,
validates, stores, and disseminates
business information about the federal
government's trading partners in support
of the contract awards, grants, and
electronic payment processes.
<bullet> Applicants must register in SAM
as part of the <a href="http://Grants.gov">Grants.gov</a> registration
process.
<bullet> Applicants that have an active
SAM registration are already assigned an
UEI. Applicants must also have an EIN
number in order to register in SAM.
<bullet> Applicants must be registered in
SAM in order to submit an SF-424 in
<a href="http://Grants.gov">Grants.gov</a>.
<bullet> The CDFI Fund reserves the right
to deem an Application ineligible if the
Applicant's SAM account expires during
the time period between the submission
of the Applicant's SF-424 and the Award
announcement, or is set to expire before
September 30, 2022, and the Applicant
does not re-activate, or renew, as
applicable, the account within the
deadlines that the CDFI Fund
communicates to affected Applicants
during the Application evaluation
period.
AMIS Account................. <bullet> The Authorized Representative
and/or Application Point of Contact must
be included as ``users'' in the
Applicant's AMIS account.
<bullet> An Applicant that fails to
properly update its AMIS account may
miss important communication from the
CDFI Fund and/or may not be able to
successfully submit an Application.
501(c)(4) status............. <bullet> Pursuant to 2 U.S.C. 1611, any
501(c)(4) organization that engages in
lobbying activities is not eligible to
receive a SDL Program grant.
Compliance with <bullet> An Applicant may not be eligible
Nondiscrimination and Equal to receive an award if proceedings have
Opportunity Statutes, been instituted against it in, by, or
Regulations, and Executive before any court, governmental agency,
Orders. or administrative body, and a final
determination within the last three
years indicates the Applicant has
violated any of the following laws,
including but not limited to: Title VI
of the Civil Rights Act of 1964, as
amended (42 U.S.C. 2000d); Section 504
of the Rehabilitation Act of 1973 (29
U.S.C. 794); the Age Discrimination Act
of 1975, (42 U.S.C. 6101-6107), and
Executive Order 13166, Improving Access
to Services for Persons with Limited
English Proficiency.
Depository Institution <bullet> In the case where a Certified
Holding Companies (DIHC) \3\ CDFI Depository Institution Holding
Applicant. Company Applicant intends to carry out
the activities of an award through its
Subsidiary Certified CDFI Insured
Depository Institution, the Application
must be submitted by the Certified CDFI
Depository Institution Holding Company
and reflect the activities and financial
performance of the Subsidiary Certified
CDFI Insured Depository Institution.

[[Page 30008]]

<bullet> If a Certified CDFI Depository
Institution Holding Company and its
Certified CDFI Subsidiary Insured
Depository Institution both apply for a
SDL Program grant, only the Depository
Institution Holding Company will receive
an Award, not both. In such instances,
the Subsidiary Insured Depository
Institution will be deemed ineligible.
<bullet> Authorized Representatives of
both the Depository Institution Holding
Company and the Subsidiary CDFI Insured
Depository Institution must certify that
the information included in the
Application represents that of the
Subsidiary CDFI Insured Depository
Institution, and that the Award funds
will be used to support the Subsidiary
CDFI Insured Depository Institution for
the eligible activities outlined in the
Application.
Use of Award................. <bullet> All Awards made through this
NOFA must be used to support the
Applicant's activities in at least one
of the Eligible Activity Categories (see
Section II. (D)).
<bullet> With the exception of Depository
Institution Holding Company Applicants,
Awards may not be used to support the
activities of, or otherwise be passed
through, transferred, or co-awarded to,
third-party entities, whether
Affiliates, Subsidiaries, or others,
unless done pursuant to a merger or
acquisition or similar transaction, and
with the CDFI Fund's prior written
consent.
<bullet> The Recipient of any Award made
through this NOFA must comply, as
applicable, with the Buy American Act of
1933, 41 U.S.C. 8301-8303 and section 2
CFR 200.216 of the Uniform Requirements,
with respect to any Direct Costs.
<bullet> For Applicants applying as a
partnership, only the designated lead
Certified CDFI may use the Award to
carry out the activities of the award.
Requested Award amount....... <bullet> An Applicant must state its
requested Award amount in the
Application in AMIS. An Applicant that
does not include this amount will not be
allowed to submit an Application.
Pending resolution of <bullet> If an Applicant (or Affiliate of
noncompliance. an Applicant) that is a prior recipient
or allocatee under any CDFI Fund
program: (i) Has demonstrated it has
been in noncompliance with a previous
assistance agreement, award agreement,
allocation agreement, bond loan
agreement, or agreement to guarantee and
(ii) the CDFI Fund has yet to make a
final determination as to whether the
entity is in noncompliance with or
default of its previous agreement, the
CDFI Fund will consider the Applicant's
Application under this NOFA pending full
resolution, in the sole determination of
the CDFI Fund, of the noncompliance.
Noncompliance or default <bullet> The CDFI Fund will not consider
status. an Application submitted by an Applicant
that is a prior CDFI Fund award
recipient or allocatee under any CDFI
Fund program if, as of the AMIS
Application deadline in this NOFA, (i)
the CDFI Fund has made a final
determination in writing that such
Applicant (or Affiliate of such
Applicant) is in noncompliance with or
default of a previously executed
assistance agreement, award agreement,
allocation agreement, bond loan
agreement, or agreement to guarantee,
and (ii) the CDFI Fund has provided
written notification that such entity is
ineligible to apply for or receive any
future CDFI Fund awards or allocations.
Such entities will be ineligible to
submit an Application for such time
period as specified by the CDFI Fund in
writing.
<bullet> The CDFI Fund will not consider
any Applicant that has defaulted on a
loan from the CDFI Fund within five
years of the Application deadline.
Debarment/Do Not Pay <bullet> The CDFI Fund will conduct a
Verification. debarment check and will not consider an
Application submitted by an Applicant if
the Applicant (or Affiliate of an
Applicant) is delinquent on any Federal
debt.
<bullet> The Do Not Pay Business Center
was developed to support Federal
agencies in their efforts to reduce the
number of improper payments made through
programs funded by the Federal
government. The Do Not Pay Business
Center provides delinquency information
to the CDFI Fund to assist with the
debarment check.
Regulated Institutions \4\... <bullet> Each Regulated Institution SDL
Program Applicant must have a CAMELS/
CAMEL rating (rating for banks and
credit unions, respectively) or
equivalent type of rating by its
regulator (collectively referred to as
``CAMELS/CAMEL rating'') of a ``1'',
``2'', or ``3''.
<bullet> SDL Program Applicants with
CAMELS/CAMEL ratings of ``4'' or ``5''
will not be eligible for awards.
<bullet> The CDFI Fund will also evaluate
material concerns identified by the
Appropriate Federal Banking Agency in
determining the eligibility of Regulated
Institution Applicants.
------------------------------------------------------------------------

Any Applicant that does not meet the criteria in Table 5 is
ineligible to apply for an SDL Program Award under this NOFA.
---------------------------------------------------------------------------

\3\ Depository Institution Holding Company or DIHC means a Bank
Holding Company or a Savings and Loan Holding Company.
\4\ Regulated Institutions include Insured Credit Unions,
Insured Depository Institutions, State-Insured Credit Unions and
Depository Institution Holding Companies.
---------------------------------------------------------------------------

C. Contacting the CDFI Fund: Accordingly, Applicants that are prior
Recipients and/or allocatees under any CDFI Fund program are advised to
comply with requirements specified in an Assistance Agreement,
allocation agreement, bond loan agreement, or agreement to guarantee,
and to ensure their Affiliates are in compliance with any agreements.
All outstanding reporting and compliance questions should be directed
to the Office of Compliance Monitoring and Evaluation (CME) Help Desk
by AMIS Service Requests or by telephone at (202) 653-0421; except in
the case of SDL Program reporting and compliance questions, which
should be directed to the SDL Program Help Desk by completing a Service
Request through AMIS using ``Small Dollar Loan Program'' for the
Service Request program. Alternatively, the public can contact SDL
Program staff via email at <a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="4516010915052621232c6b31372024366b222a33">[email&#160;protected]</a> or by telephone at (202)
653-0421. The CDFI Fund will not respond to Applicants' reporting or
compliance telephone calls or email inquiries that are received after
5:00 p.m. ET on July 13, 2022 until after the Application deadline. The
CDFI Fund will respond to technical issues related to AMIS

[[Page 30009]]

Accounts through 5:00 p.m. ET on July 15, 2022, via AMIS Service
Requests, or at <a href="/cdn-cgi/l/email-protection#1d5c50544e5d7e797b7433696f787c6e337a726b">[email&#160;protected]</a>, or by telephone at (202) 653-0422.
D. Matching Funds Requirements: The Matching Funds requirement for
SDL Program Applicants was waived in the final FY 2021 and 2022
appropriations. Therefore, SDL Program Applicants are not required to
provide Matching Funds.
E. Other Eligibility Criteria:
1. How Affiliated Entities Can Submit an Application: As part of
the Application review process, the CDFI Fund considers whether
Applicants are Affiliates, as such term is defined in 12 CFR 1807.104.
If an Applicant and its Affiliate(s) wish to submit an Application,
they must do so through one of the Affiliated entities, in one
Application; an Applicant and its Affiliates may not submit separate
Applications. If Affiliates submit multiple or separate Applications,
the CDFI Fund may, at its discretion, reject all such Applications
received or select only one of the submitted Applications to deem
eligible, assuming that Application meets all other eligibility
criteria in Section III of this NOFA. Furthermore, an Applicant that
receives an award in this SDL Program round may not become an Affiliate
of another Applicant that receives an award in this SDL Program round
at any time after the submission of an SDL Program Application under
this NOFA. This requirement will also be a term and condition of the
Assistance Agreement (see Application Frequently Asked Questions on the
CDFI Fund's website at <a href="http://www.cdfifund.gov/sdlp">http://www.cdfifund.gov/sdlp</a> for more details).
2. Required Loan Features: An Applicant will not be eligible to
receive an SDL Program Award if the Applicant fails to demonstrate in
the Application that its SDL Program Award would be used to establish
or maintain a small dollar loan program that offers small dollar loans
to consumers that:
(a) Are made in amounts that do not exceed $2,500;
(b) must be repaid in installments;
(c) have no prepayment penalty; and
(d) have payments that are reported to at least one of the consumer
reporting agencies that complies and maintain files on consumers on a
nationwide basis.
3. Prohibited Practices. Applicants are not eligible to use SDL
Program Awards to support small dollar loan programs that have the
lending practices and loan characteristics listed in Table 2.

IV. Application and Submission Information

A. Address to Request Application Package: Application materials
can be found on the <a href="http://Grants.gov">Grants.gov</a> and the CDFI Fund's website at
<a href="http://www.cdfifund.gov/sdlp">www.cdfifund.gov/sdlp</a>. Applicants may request a paper version of any
Application material by contacting the CDFI Fund Help Desk by email at
<a href="/cdn-cgi/l/email-protection#8af9eee6facae9eeece3a4fef8efebf9a4ede5fc">[email&#160;protected]</a> or by telephone at (202) 653-0421.
B. Content and Form of Application Submission: The CDFI Fund will
post to its website, at <a href="http://www.cdfifund.gov/sdlp">www.cdfifund.gov/sdlp</a>, instructions for
accessing and submitting an Application. Detailed Application content
requirements are found in the Application and related guidance
documents.
All Applications must be prepared in English and calculations must
be made in U.S. dollars. Table 6 lists the required funding Application
documents for the FY 2022 SDL Program Round. Applicants must submit all
required documents for the Application to be deemed complete. Please be
aware that an Applicant that fails to submit audited financial
statements for its three most recently completed fiscal years will be
deemed as not having a complete Application and will be considered
ineligible. The CDFI Fund reserves the right to request and review
other pertinent or public information that has not been specifically
requested in this NOFA or the Application. Information submitted by the
Applicant that the CDFI Fund has not specifically requested will not be
reviewed or considered as part of the Application. Information
submitted must accurately reflect the Applicant's activities and/or its
Subsidiary Insured Depository Institution, in the case where the
Applicant is an Insured Depository Institution Holding Company.

Table 6--Funding Application Documents
------------------------------------------------------------------------
Application document Submission format Required?
------------------------------------------------------------------------
Standard Form (SF) 424 Mandatory Fillable PDF in Required for all
Form. <a href="http://Grants.gov">Grants.gov</a>. Applicants.
SDL Program Application......... AMIS.............. Required for all
Applicants.
Attachments to the Application:
Audited financial statements PDF in AMIS....... Required only for
(three most recently Loan funds,
completed fiscal years venture capital
prior to the publication funds, and other
date of this NOFA). non-Regulated
Institutions.
Management Letter for the PDF in AMIS....... Required only for
Applicant's Most Recently Loan funds,
Completed Fiscal Year. venture capital
The Management Letter is funds, and other
prepared by the Applicant's non-Regulated
auditor and is a Institutions.
communication on internal
control over financial
reporting, compliance, and
other matters. The
Management Letter contains
the auditor's findings
regarding the Applicant's
accounting policies and
procedures, internal
controls, and operating
policies, including any
material weaknesses,
significant deficiencies,
and other matters
identified during auditing.
The Management Letter may
include suggestions for
improving on identified
weaknesses and deficiencies
and/or best practice
suggestions for items that
may not be considered to be
weaknesses or deficiencies.
The Management Letter may
also include items that are
not required to be
disclosed in the annual
audited financial
statements. The Management
Letter is distinct from the
auditor's Opinion Letter,
which is required by
Generally Accepted
Accounting Principles
(GAAP). Management Letters
are not required by GAAP,
and are sometimes provided
by the auditor as a
separate letter from the
audit itself.
Year-end call reports for PDF in AMIS....... Required only for
Applicant's three most Regulated
recently completed fiscal Institutions.
years prior to the
publication date of the
NOFA (for additional
guidance see FAQ).

[[Page 30010]]

A Qualified Federally PDF in AMIS....... Required only for
Insured Depository a FIDI that is
Institution (FIDI) applying as a
Partnership Attestation partnership with
Form demonstrating that the a Certified CDFI
FIDI has a primary mission for an LLR Award.
of serving targeted
Investment Areas.
A Partnership Agreement PDF in AMIS....... Required only for:
between a Certified CDFI (1) A FIDI and a
and FIDI, that has a Certified CDFI
primary mission of serving applying for an
targeted Investment Areas, LLR Award; and
applying for an LLR Award, (2) two or more
or a Partnership Agreement Certified CDFIs
between or among two or that are applying
more Certified CDFIs as a partnership
applying for a TA Award for a TA Award.
detailing the terms of
their partnership to
establish or maintain a
small dollar loan program.
------------------------------------------------------------------------

The CDFI Fund has a sequential, two-step process that requires the
submission of Application documents in separate systems and on separate
deadlines. The SF-424 form must be submitted through <a href="http://Grants.gov">Grants.gov</a> and all
other Application documents through the AMIS portal. The CDFI Fund will
not accept Applications via email, mail, facsimile, or other forms of
communication, except in extremely rare circumstances that have been
pre-approved by the CDFI Fund. The separate Application deadlines for
the SF-424 and all other Application materials are listed in Tables 1
and 6. Only the Authorized Representative for the Organization or
Application Point of Contact designated in AMIS may submit the
Application through AMIS.
Applicants are strongly encouraged to submit the SF-424 as early as
possible through <a href="http://Grants.gov">Grants.gov</a> in order to provide sufficient time to
resolve any potential submission issues. Applicants should contact
<a href="http://Grants.gov">Grants.gov</a> directly with questions related to the registration or
submission process, as the CDFI Fund does not administer the <a href="http://Grants.gov">Grants.gov</a>
system.
The CDFI Fund strongly encourages Applicants to start the
<a href="http://Grants.gov">Grants.gov</a> registration process as soon as possible, as it may take
several weeks to complete (refer to the following link: <a href="http://www.grants.gov/web/grants/register.html">http://www.grants.gov/web/grants/register.html</a>). An Applicant that has
previously registered with <a href="http://Grants.gov">Grants.gov</a> must verify that its registration
is current and active. If an Applicant has not previously registered
with <a href="http://Grants.gov">Grants.gov</a>, it must first successfully register in <a href="http://SAM.gov">SAM.gov</a>, as
described in Section IV.D below.
C. Unique Entity Identifier: The Unique Entity Identifier (UEI) has
replaced the Dun and Bradstreet Universal Numbering System (DUNS)
number. The UEI, generated in the System for Award Management
(<a href="http://SAM.gov">SAM.gov</a>), has become the official identifier for doing business with
the federal government. This transition allows the federal government
to streamline the entity identification and validation process, making
it easier and less burdensome for entities to do business with the
federal government. If an entity is registered in <a href="http://SAM.gov">SAM.gov</a> today, its
UEI has already been assigned and is viewable in <a href="http://SAM.gov">SAM.gov</a>, this includes
inactive registrations. New registrants will be assigned a UEI as part
of their SAM registration.
D. System for Award Management: Any entity applying for Federal
grants or other forms of Federal financial assistance through
<a href="http://Grants.gov">Grants.gov</a> must be registered in SAM before submitting its Application
materials through that platform. When accessing <a href="http://SAM.gov">SAM.gov</a>, users will be
asked to create a <a href="http://login.gov">login.gov</a> user account (if they do not already have
one). Registration in SAM is required as part of the <a href="http://Grants.gov">Grants.gov</a>
registration process. Going forward, users will use their <a href="http://login.gov">login.gov</a>
username and password every time when logging into <a href="http://SAM.gov">SAM.gov</a>. The SAM
registration process can take four weeks or longer to complete so
Applicants are strongly encouraged to begin the registration process
upon publication of this NOFA in order to avoid potential Application
submission issues. An original, signed notarized letter identifying the
authorized entity administrator for the entity associated with the UEI
number is required by SAM and must be mailed to the Federal Service
Desk. This requirement is applicable to new entities registering in SAM
or on existing registrations where there is no existing entity
administrator. Existing entities with registered entity administrators
do not need to submit an annual notarized letter.
Applicants that have previously completed the SAM registration
process must verify that their SAM accounts are current and active.
Applicants are required to maintain a current and active SAM account at
all times during which it has an active Federal award or an Application
under consideration for an award by a Federal awarding agency.
The CDFI Fund will not consider any Applicant that fails to
properly register or activate its SAM account and, as a result, is
unable to submit its Application by the Application deadline.
Applicants must contact SAM directly with questions related to
registration or SAM account changes, as the CDFI Fund does not maintain
this system. For more information about SAM, please visit <a href="https://www.sam.gov">https://www.sam.gov</a> or call 866-606-8220.

Table 7_Grants.gov Registration Timeline Summary
____________________________________
Estimated minimum
Step Agency time to complete
____________________________________
Register in <a href="http://SAM.gov">SAM.gov</a>......... System for Award Four Weeks.*
Management (SAM).
This step will
include obtaining a
UEI.
Register in <a href="http://Grants.gov">Grants.gov</a>...... <a href="http://Grants.gov">Grants.gov</a>.......... One Week.**
------------------------------------------------------------------------
* Applicants are advised that the stated duration are estimates only and
represent minimum timeframes. Actual timeframes may take longer. The
CDFI Fund will not consider any Applicant that fails to properly
register or activate its SAM account, has not yet received a UEI
number, and/or fails to properly register in <a href="http://Grants.gov">Grants.gov</a>.
** This estimate assumes an Applicant has a UEI number, an EIN number,
and is already registered in <a href="http://SAM.gov">SAM.gov</a>.

[[Page 30011]]

E. Submission Dates and Times:
1. Submission Deadlines: Table 8 lists the deadlines for submission
of the documents related to the FY 2022 SDL Program Funding Round:

Table 8--FY 2022 SDL Program Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Document Deadline Time-eastern time (ET) Submission method
----------------------------------------------------------------------------------------------------------------
SF-424 Mandatory form............ June 15, 2022.............. 11:59 pm................... Electronically via
<a href="http://Grants.gov">Grants.gov</a>.
Create AMIS Account (if the June 15, 2022.............. 11:59 p.m.................. Electronically via
Applicant does not already have AMIS.
one).
SDL Program Application and July 15, 2022.............. 5:00 p.m................... Electronically via
Required Attachments. AMIS.
----------------------------------------------------------------------------------------------------------------

2. Confirmation of Application Submission in <a href="http://Grants.gov">Grants.gov</a> and AMIS:
Applicants are required to submit the SF-424 Mandatory Form through the
<a href="http://Grants.gov">Grants.gov</a> system under the FY 2022 SDL Program Funding Opportunity
Number (listed at the beginning of this NOFA). All other required
Application materials must be submitted through AMIS. Application
materials submitted through each system are due by the applicable
deadline listed in Table 6. Applicants must submit the SF-424 by an
earlier deadline than that of the other required Application materials
in AMIS. If a valid SF-424 is not submitted through <a href="http://Grants.gov">Grants.gov</a> by the
corresponding deadline, the Applicant will not be able to submit the
additional Application materials in AMIS, and the Application will be
deemed ineligible. Thus, Applicants are strongly encouraged to submit
the SF-424 as early as possible in the <a href="http://Grants.gov">Grants.gov</a> portal, given that
potential submission issues may impact the ability to submit a complete
Application.
(a) <a href="http://Grants.gov">Grants.gov</a> Submission Information: Each Applicant will receive
an initial email from <a href="http://Grants.gov">Grants.gov</a> immediately after submitting the SF-
424, confirming that the submission has entered the <a href="http://Grants.gov">Grants.gov</a> system.
This email will contain a tracking number for the submitted SF-424.
Within forty-eight (48) hours, the Applicant will receive a second
email which will indicate if the submitted SF-424 was either
successfully validated or rejected with errors. However, Applicants
should not rely on the email notification from <a href="http://Grants.gov">Grants.gov</a> to confirm
that their SF-424 was validated. Applicants are strongly encouraged to
use the tracking number provided in the first email to closely monitor
the status of their SF-424 by checking <a href="http://Grants.gov">Grants.gov</a> directly. The
Application materials submitted in AMIS are not accepted by the CDFI
Fund until <a href="http://Grants.gov">Grants.gov</a> has validated the SF-424. In the <a href="http://Grants.gov">Grants.gov</a>
Workspace function, please note that the Application package has not
been submitted if you have not received a tracking number.
(b) AMIS Submission Information: AMIS is a web-based portal where
Applicants will directly enter their Application information and add
required attachments listed in Table 6. Each Applicant must register as
an organization in AMIS in order to submit the required Application
materials through this portal. AMIS will verify that the Applicant
provided the minimum information required to submit an Application.
Applicants are responsible for the quality and accuracy of the
information and attachments included in the Application submitted in
AMIS. The CDFI Fund strongly encourages the Applicant to allow
sufficient time to confirm the Application content, review the material
submitted, and remedy any issues prior to the Application deadline.
Applicants can only submit one Application in AMIS. Upon submission,
the Application will be locked and cannot be resubmitted, edited, or
modified in any way. The CDFI Fund will not unlock or allow multiple
AMIS Application submissions.
Prior to submission, each Application in AMIS must be signed by an
Authorized Representative. An Authorized Representative is an employee
or officer and has the authority to legally bind and make
representations on behalf of the Applicant; consultants working on
behalf of the Applicant cannot be designated as Authorized
Representatives. The Applicant may include consultants as Application
point(s) of contact, who will be included on any communication
regarding the Application and will be able to submit the Application
but cannot sign the Application. The Authorized Representative and/or
Application point(s) of contact must be included as ``Contacts'' in the
Applicant's AMIS account. The Authorized Representative must also be a
``user'' in AMIS. An Applicant that fails to properly register and
update its AMIS account may miss important communications from the CDFI
Fund or fail to submit an Application successfully. Only an Authorized
Representative for the organization or an Application point of contact
can submit the Application in AMIS. After submitting its Application,
the Applicant will not be permitted to revise or modify its Application
in any way or attempt to negotiate the terms of an Award.
3. Multiple Application Submissions: Applicants are only permitted
to submit one complete Application. However, the CDFI Fund does not
administer <a href="http://Grants.gov">Grants.gov</a>, which does allow for multiple submissions of the
SF-424. If an Applicant submits multiple SF-424 Applications in
<a href="http://Grants.gov">Grants.gov</a>, the CDFI Fund will only review the SF-424 Application
submitted in <a href="http://Grants.gov">Grants.gov</a> that is attached to the AMIS Application.
Applicants can only submit one Application through AMIS.
4. Late Submission: The CDFI Fund will not accept an SF-424
submitted after the applicable <a href="http://Grants.gov">Grants.gov</a> or AMIS Application submitted
after the AMIS Application deadline, except where the submission delay
was a direct result of a Federal government administrative or Federal
government technological error. This exception includes any errors
associated with <a href="http://Grants.gov">Grants.gov</a>, <a href="http://SAM.gov">SAM.gov</a>, AMIS or any other applicable
government system.
(a) SF-424 Late Submission: In cases where a Federal government
administrative or Federal government technological error directly
resulted in the late submission of the SF-424, the Applicant must
submit a written request for acceptance of the late SF-424 submission
and include documentation of the error no later than two business days
after the SF-424 deadline. The CDFI Fund will not respond to requests
for acceptance of late SF-424 submissions after that time period.
Applicants must submit late SF-424 submission requests to the CDFI Fund

[[Page 30012]]

via an AMIS service request to the SDL Program with a subject line of
``Late SF-424 Submission Request--Small Dollar Loan Program.''
(b) AMIS Application Late Submission: In cases where a Federal
government administrative or Federal government technological error
directly resulted in a late submission of the Application in AMIS, the
Applicant must submit a written request for acceptance of the late
Application submission and include documentation of the error no later
than two business days after the Application deadline. The CDFI Fund
will not respond to requests for acceptance of late AMIS Application
submissions after that time period. Applicants must submit late
Application submission requests to the CDFI Fund via an AMIS service
request to the SDL Program with a subject line of ``Late Application
Submission Request--Small Dollar Loan Program.''
5. Intergovernmental Review: Not Applicable.
6. Funding Restrictions: SDL Program Awards are limited by the
following:
(a) A Recipient shall use SDL Program Award funds only for the
eligible activities set forth in the Application and as described in
Section II.B and Section II.D of this NOFA and its Assistance
Agreement.
(b) A Recipient may not disburse SDL Program Award funds to an
Affiliate, Subsidiary, or any other entity in any manner that would
create a Subrecipient relationship (as defined in the Uniform
Requirements) without the CDFI Fund's prior written approval.
(c) SDL Program Award dollars shall only be paid to the Recipient.
(d) The CDFI Fund, in its sole discretion, may pay SDL Program
Awards in amounts, or under terms and conditions, which are different
from those requested by an Applicant. However, the CDFI Fund will not
grant an Award in excess of the amount requested by the Applicant.

V. Application Review Information

A. Criteria: All complete and eligible Applications will be
reviewed in accordance with the criteria and procedures described in
this NOFA, the Application guidance, and the Uniform Requirements. As
part of the review process, the CDFI Fund reserves the right to contact
the Applicant by telephone, email, mail, or through an on-site visit
for the sole purpose of clarifying or confirming Application
information at any point during the review process. The CDFI Fund
reserves the right to collect such additional information from
Applicants as it deems appropriate. If contacted, the Applicant must
respond within the time period communicated by the CDFI Fund or its
Application may be rejected. The CDFI Fund will review the SDL Program
Applications in accordance with the process below. All CDFI Fund
reviewers will complete the CDFI Fund's conflict of interest process.
B. Review and Selection Process:
The CDFI Fund will evaluate each complete and eligible Application
using the multi-phase review process described in this Section. Where
appropriate, the CDFI Fund will use different criteria in order to
evaluate the financial health, capacity, and strategies of the
Applications based on the proposed use(s) of the SDL Program Award.
These differences are noted in the following sections and the
Application Instructions. Applicants that meet the minimum criteria
will advance to the next step in the review process.
1. Eligibility Review: The CDFI Fund will evaluate each Application
to determine its eligibility status pursuant to Section III of this
NOFA.
2. Financial Analysis and Compliance Risk Evaluation:
i. Financial Analysis: For Regulated Institutions, the CDFI Fund
will consider financial safety and soundness information from the
Appropriate Federal or State Banking Agency. As detailed in Table 5,
each Regulated Institution SDL Program Applicant must have a CAMELS/
CAMEL rating of a ``1'', ``2'', or ``3'', and no significant material
concerns from its regulator.
For non-regulated Applicants, the CDFI Fund will evaluate the
financial health and viability of each non-regulated Applicant using
the Application Assessment Tool and the financial information provided
by the Applicant. For the Financial Analysis, each non-regulated
Applicant will receive a Total Financial Composite Score on a scale of
one (1) to five (5), with one (1) being the highest rating. The Total
Financial Composite Score is based on the analysis of twenty-three (23)
financial indicators. Applications will be grouped based on the Total
Financial Composite Score. Applicants must receive a Total Financial
Composite Score of one (1), two (2), or three (3) to advance to the
Business Strategy and Community Impact Review phase. CDFI Fund staff
will review and confirm the scores for Applications that receive an
initial Total Financial Composite Score of four (4) or five (5). If the
Total Financial Composite Score remains four (4) or five (5) after CDFI
Fund staff review, the Applicant will not advance to the Business
Strategy and Community Impact Review phase.
ii. Compliance Risk Evaluation: For the compliance analysis, the
CDFI Fund will evaluate the compliance risk of each Applicant using
information provided in the Application, as well as an Applicant's
reporting history, reporting capacity, and performance risk with
respect to the Applicant's PG&Ms for all CDFI Fund awards. Each
Applicant will receive a Total Compliance Composite Score on a scale of
one (1) to five (5), with one (1) being the highest rating. CDFI Fund
staff will review and confirm the scores for Applications that receive
an initial Total Compliance Composite Score of four (4) or five (5). If
the Applicant is deemed a high compliance risk after CDFI Fund Staff
review, the Applicant will not advance to the Business Strategy and
Community Impact Review phase.
3. Business Strategy and Community Impact Review: Applicants that
proceed to this phase will be evaluated on the soundness of their
proposed business strategy and community impact. Applicants will
receive a Total Business Strategy and Community Impact Review Score
equivalent to ``Low Risk,'' ``Medium Risk'' or ``High Risk.''
Applicants must receive a Total Business Strategy and Community Impact
Review Score that is equivalent to a ``Low Risk'' or ``Medium Risk'' to
move forward to the Final Award Decision and Award Amount Determination
Stage. Applicants that receive an overall rating of ``High Risk'' in
this Review will not move forward to the Final Award Decision and Award
Amount Determination Stage, and will not receive further consideration
for an SDL Program Award.
In the Business Strategy and Community Impact section, the CDFI
Fund will review and evaluate: (i) The needs of communities and persons
in the areas the Applicant proposes to serve with an SDL Program Award
and the extent to which the proposed strategy addresses these needs;
(ii) the small dollar lending and financing gaps addressed by its
business strategy; (iii) the projected SDL Program activities and track
record; (iv) the role the SDL Program Award plays in its financing
strategy and the expected community impact that will be sought as a
result of the proposed program. Expected community impacts may include
improved financial strength and stability for low-income and
underserved people and/or improved borrower delinquency rate and/or
improved credit history and credit scores and/or access to mainstream
financial products and expanded activity in other credit facilities
(e.g., borrower received an auto loan) and/or

[[Page 30013]]

continued access to financial education, including credit counseling
and/or help to create or preserve savings and/or help borrowers
consolidate or reduce debt at a lower cost.
a. For the Applicant requesting an Award for LLR, the Applicant
will discuss how the LLR will be used to launch a small dollar loan
program or increase the volume of its existing small dollar program
that meets the statutory and other requirements described in this NOFA.
The Applicant will also describe its strategy and structure of the LLR
account. Further, the Applicant will discuss the anticipated loss rate
that these reserves will cover and how this was estimated.
b. For the Applicant applying for a TA Award, the Applicant will
describe the strategy for how a TA Award will be used to launch a small
dollar loan program or increase the volume of its existing small dollar
program that meets the statutory and other requirements described in
this NOFA. The Applicant will include information about intended uses,
such as: Technology support, including software and peripherals and/or
staff support, including salary and training and/or credit monitoring
and reporting capability and/or marketing or promotional support and/or
fees for consultants and/or audit or oversight costs.
Within the Business and Community Impact Strategy Section, an
Applicant will generally be deemed a lower risk to the extent that it:
(i) Clearly aligns its proposed SDL Program Award activities and
products with the small dollar needs and financing gaps it identifies;
(ii) demonstrates that its strategy and activities will result in more
favorable financing rates and terms for borrowers; (iii) demonstrates
that its projected activities are achievable based on the Applicant's
strategy and track record and demonstrates an increase in its small
dollar lending; (iv) describes a clear process for selecting borrowers
that have a clear need for its small dollar loan program financing; and
(v) has a credible pipeline of borrowers. An Applicant will generally
score more favorably to the extent it has a volume of projected
activities supported by its track record. An Applicant will also score
favorably if its small dollar loan program offers one or more of the
following lending practices and loan characteristics that promote
affordable and responsible small dollar lending: The loan term is at
least ninety (90) days, and/or it considers the borrower's ability to
repay by assessing both the borrower's income and expenses (i.e., base
lending on a borrower's ability to repay according to the terms of the
loan, while meeting other expenses, without needing to refinance/re-
borrow, and without relying on collateral), and/or loan decisions are
made within one business day (twenty-four (24) hours) after receipt of
required documents, and/or the borrower receives a reduction in its
loan rate if s/he uses automatic debit payments, and/or the Applicant's
small dollar loan program offers automatic savings features, and/or the
Applicant offers access to financial education, including credit
counseling.
4. Final Award Decision and Award Amount Determination: During this
last phase, the CDFI Fund will review all SDL Program Applications that
make it to this step to ensure adherence with the SDL Program's
policies and procedures, as well as applicable Federal regulations. The
CDFI Fund will also review the Applicant's management team and key
staff, compliance status, eligibility, due diligence, and regulatory
matters. This due diligence includes an analysis of programmatic and
financial risk factors including, but not limited to, financial
stability, history of performance in managing Federal awards (including
timeliness of reporting and compliance), audit or regulator findings,
and the Applicant's ability to effectively implement Federal
requirements. For Applicants applying for awards to establish a small
dollar loan program, the CDFI Fund will also consider the Applicant's
ability to start a new small dollar loan program. If an Applicant is
found to be a significant risk as a result of the due diligence review,
the CDFI Fund may eliminate the Applicant from consideration for an SDL
Program Award.
The CDFI Fund will determine award amounts for Applications based
on the due diligence performed, the Applicant's requested amount, and
certain other factors, including but not limited to, the Applicant's
three-year projected total small dollar loans to be closed, minimum
award size, Applicants that offer one or more of the preferred lending
practices and loan characteristics stated in this NOFA that promotes
affordable and responsible small dollar lending, Applicants that have
headquarters (as stated in the Applicant's Application) located in
PPCs, an Applicant's risk rating level, and funding availability. Award
amounts may be reduced from the requested award amount as a result of
the above factors.
5. Regulated Institutions: The CDFI Fund will consider safety and
soundness information from the Appropriate Federal or State Banking
Agency. If the Applicant is a CDFI Depository Institution Holding
Company, the CDFI Fund will consider information provided by the
Appropriate Federal or State Banking Agencies about both the CDFI
Depository Institution Holding Company and the Certified CDFI
Subsidiary Insured Depository Institution that will expend and carry
out the award. If the Appropriate Federal or State Banking Agency
identifies safety and soundness concerns, the CDFI Fund will assess
whether such concerns cause or will cause the Applicant to be incapable
of undertaking the activities for which funding has been requested.
6. Non-Regulated Institutions: The CDFI Fund must ensure, to the
maximum extent practicable, that Applicants which are non-regulated
CDFIs are financially and managerially sound, and maintain appropriate
internal controls (12 U.S.C. 4707(f)(1)(A) and 12 CFR 1805.800(b)).
Further, the CDFI Fund must determine that an Applicant's capacity to
operate as a CDFI and its continued viability will not be dependent
upon assistance from the CDFI Fund (12 U.S.C. 4704(b)(2)(A)). If it is
determined that the Applicant is incapable of meeting these
requirements, the CDFI Fund reserves the right to deem the Applicant
ineligible or terminate the award.
C. Anticipated Award Announcement: The CDFI Fund anticipates making
the SDL Program Award announcement before September 30, 2022. However,
the anticipated award announcement date is subject to change without
notice.
D. Application Rejection: The CDFI Fund reserves the right to
reject an Application if information (including administrative errors)
comes to the CDFI Fund's attention that: Adversely affects an
Applicant's eligibility for an award; adversely affects the Recipient's
certification as a CDFI (to the extent that the award is conditional
upon CDFI certification); adversely affects the CDFI Fund's evaluation
or scoring of an Application; or indicates fraud or mismanagement on
the Applicant's part. If the CDFI Fund determines any portion of the
Application is incorrect in a material respect, the CDFI Fund reserves
the right, in its sole discretion, to reject the Application. The CDFI
Fund reserves the right to change its eligibility and evaluation
criteria and procedures, if the CDFI Fund deems it appropriate. If the
changes materially affect the CDFI Fund's award decisions, the CDFI
Fund will provide information about the changes through its website.
The CDFI Fund's award decisions are final, and there is no right to
appeal decisions.

[[Page 30014]]

VI. Federal Award Administration Information

A. Award Notification: Each successful Applicant will receive
notification from the CDFI Fund stating that its Application has been
approved for an Award. Each Applicant not selected for an Award will
receive notification and be provided a debriefing document in its AMIS
account.
B. Administrative and Policy Requirements Prior to Entering into an
Assistance Agreement: The CDFI Fund may, in its discretion and without
advance notice to the Recipient, terminate the Award or take other
actions as it deems appropriate if, prior to entering into an
Assistance Agreement, information (including an administrative error)
comes to the CDFI Fund's attention that adversely affects the
following: The Recipient's eligibility for an Award; the CDFI Fund's
evaluation of the Application; the Recipient's compliance with any
requirement listed in the Uniform Requirements; or indicates fraud or
mismanagement on the Recipient's part, including mismanagement of
another Federal award.
By receiving notification of a SDL Program Award, the Recipient
agrees that, if the CDFI Fund becomes aware of any information
(including an administrative error) prior to the Effective Date of the
Assistance Agreement that either adversely affects the Recipient's
eligibility for an SDL Program Award, or adversely affects the CDFI
Fund's evaluation of the Recipient's Application, or indicates fraud or
mismanagement on the part of the Recipient, the CDFI Fund may, in its
discretion and without advance notice to the Recipient, rescind the
notice of award or take other actions as it deems appropriate.
The CDFI Fund reserves the right, in its sole discretion, to
rescind an Award if the Recipient fails to return the Assistance
Agreement, signed by an Authorized Representative of the Recipient,
and/or provide the CDFI Fund with any other requested documentation,
within the CDFI Fund's deadlines.
In addition, the CDFI Fund reserves the right, in its sole
discretion, to terminate and rescind the Assistance Agreement and the
award made under this NOFA for any criteria described in Table 9:

Table 9--Requirements Prior To Executing an Assistance Agreement
------------------------------------------------------------------------
Requirement Criteria
------------------------------------------------------------------------
Failure to meet reporting <bullet> If an Applicant received a
requirements. prior award or allocation under any
CDFI Fund program and is not
current on the reporting
requirements set forth in the
previously executed assistance,
award, allocation, bond loan
agreement(s), or agreement to
guarantee, as of the date of the
notice of award, the CDFI Fund
reserves the right, in its sole
discretion, to delay entering into
an Assistance Agreement and/or to
delay making a Payment of SDL
Program Award, until said prior
Recipient or allocatee is current
on the reporting requirements in
the previously executed assistance,
award, allocation, bond loan
agreement(s), or agreement to
guarantee.
<bullet> If such a prior Recipient
or allocatee is unable to meet this
requirement within the timeframe
set by the CDFI Fund, the CDFI Fund
reserves the right, in its sole
discretion, to terminate and
rescind the notice of award and the
SDL Program Award made under this
NOFA.
<bullet> Please note that automated
systems employed by the CDFI Fund
for receipt of reports submitted
electronically typically
acknowledge only a report's
receipt; such acknowledgment does
not warrant that the report
received was complete, nor that it
met reporting requirements. If said
prior Recipient or allocatee is
unable to meet this requirement
within the timeframe set by the
CDFI Fund, the CDFI Fund reserves
the right, in its sole discretion,
to terminate and rescind the notice
of Award and the SDL Program Award
made under this NOFA.
Failure to maintain CDFI <bullet> A Recipient must be a
Certification (if applicable). Certified CDFI as is defined in the
SDL Program Application and this
NOFA, prior to entering into an
Assistance Agreement.
<bullet> If, at any time prior to
entering into an Assistance
Agreement under this NOFA, an
Applicant that is a Certified CDFI
has submitted reports (or failed to
submit an annual certification
report as instructed by the CDFI
Fund) to the CDFI Fund that
demonstrate noncompliance with the
requirements for certification, but
the CDFI Fund has yet to make a
final determination regarding
whether or not the entity is
Certified, the CDFI Fund reserves
the right, in its sole discretion,
to delay entering into an
Assistance Agreement and/or to
delay making a Payment of SDL
Program Award, pending full
resolution, in the sole
determination of the CDFI Fund, of
the noncompliance.
<bullet> If the Applicant is unable
to meet this requirement, in the
sole determination of the CDFI
Fund, the CDFI Fund reserves the
right, in its sole discretion, to
terminate and rescind the notice of
award and the SDL Program Award
made under this NOFA.
Pending resolution of <bullet> The CDFI Fund will delay
noncompliance. entering into an Assistance
Agreement with a Recipient that has
pending noncompliance issues with
any of its previously executed CDFI
Fund award(s), allocation(s), bond
loan agreement(s), or agreement(s)
to guarantee.
<bullet> If said prior Recipient or
allocatee is unable satisfactorily
resolve the compliance issues, the
CDFI Fund reserves the right, in
its sole discretion, to terminate
and rescind the notice of award and
the SDL Program Award made under
this NOFA.
Default or Noncompliance status... <bullet> If, at any time prior to
entering into an Assistance
Agreement, the CDFI Fund determines
that an Applicant (or an Affiliate
of the Applicant) that is a prior
CDFI Fund Recipient or allocatee
under any CDFI Fund program is
noncompliant or found in default
with any previously executed CDFI
Fund award or Assistance
agreement(s) and the CDFI Fund has
provided written notification that
the Applicant is ineligible to
apply for or receive any future
awards or allocations for a time
period specified by the CDFI Fund
in writing, the CDFI Fund may, in
its sole discretion, delay entering
into an Assistance Agreement with
Applicant until the Recipient has
cured the noncompliance by taking
actions the CDFI Fund has specified
in writing within such specified
timeframe. If the Recipient is
unable to cure the noncompliance
within the specified timeframe, the
CDFI Fund may modify or rescind all
or a portion of the SDL Program
Award made under this NOFA.

[[Page 30015]]

Compliance with Federal civil <bullet> If, prior to entering into
rights requirements. an Assistance Agreement under this
NOFA, the Recipient receives a
final determination, made within
the three years prior to the
publication of this NOFA until the
Assistance Agreement is executed,
in any proceeding instituted
against the Recipient in, by, or
before any court, governmental, or
administrative body or agency,
declaring that the Recipient has
violated the following laws: Title
VI of the Civil Rights Act of 1964,
as amended (42 U.S.C. 2000d);
Section 504 of the Rehabilitation
Act of 1973 (29 U.S.C. 794); the
Age Discrimination Act of 1975, (42
U.S.C. 6101-6107), and Executive
Order 13166, Improving Access to
Services for Persons with Limited
English Proficiency, the CDFI Fund
will terminate and rescind the
Assistance Agreement and the award
made under this NOFA.
Do Not Pay........................ <bullet> The CDFI Fund reserves the
right, in its sole discretion, to
rescind an award if the Recipient
(or Affiliate of a Recipient) is
determined to be ineligible based
on data in the Do Not Pay database.
<bullet> The Do Not Pay Business
Center was developed to support
Federal agencies in their efforts
to reduce the number of improper
payments made through programs
funded by the Federal government.
Safety and soundness.............. <bullet> If it is determined that
the Recipient is or will be
incapable of meeting its SDL
Program Award obligations, the CDFI
Fund will deem the Recipient to be
ineligible or require it to improve
safety and soundness conditions
prior to entering into an
Assistance Agreement.
------------------------------------------------------------------------

C. Assistance Agreement: Each Applicant that is selected to receive
an award under this NOFA must enter into an Assistance Agreement with
the CDFI Fund in order to become a Recipient and receive Payment. Each
SDL Program Assistance Agreement has a three-year Period of
Performance.
1. The Assistance Agreement will set forth certain required terms
and conditions of the SDL Program Award, which will include, but not be
limited to:
(a) The amount of the award;
(b) The approved uses of the award;
(c) Performance goals and measures; and
(d) Reporting requirements for all Recipients.
2. Prior to executing the Assistance Agreement, the CDFI Fund may,
in its discretion, allow Recipients to request changes to certain
performance goals and measures. The CDFI Fund, in its sole
determination, may approve or reject these requested changes or propose
other modifications, including a reduction in the Award amount. The
CDFI Fund will only approve performance goals and measures if it
determines that such requested changes do not undermine the competitive
process upon which the SDL Program Award determination was made. Any
modifications agreed upon prior to the execution of the Assistance
Agreement will become a condition of the Award.
3. The Assistance Agreement shall provide that, prior to any
determination by the CDFI Fund that a Recipient has failed to comply
substantially with the SDL Program statute or the environmental quality
regulations, the CDFI Fund shall provide the Recipient with reasonable
notice and opportunity for hearing. If the Recipient fails to comply
substantially with the Assistance Agreement, the CDFI Fund may:
(a) Require changes in the performance goals set forth in the
Assistance Agreement;
(b) Reduce or terminate the SDL Program Award; or
(c) Require repayment of any SDL Program Award that has been
distributed to the Recipient.
4. The Assistance Agreement shall also provide that, if the CDFI
Fund determines noncompliance with the terms and conditions of the
Assistance Agreement on the part of the Recipient, the CDFI Fund may:
(a) Bar the Recipient from reapplying for any assistance from the
CDFI Fund; or
(b) Take such other actions as the CDFI Fund deems appropriate or
as set forth in the Assistance Agreement.
5. In addition to entering into an Assistance Agreement, each
Applicant selected to receive a SDL Program Award must furnish to the
CDFI Fund a certificate of good standing from the jurisdiction in which
it was formed. The CDFI Fund may, in its sole discretion, also require
the Applicant to furnish an opinion from its legal counsel, the content
of which may be further specified in the Assistance Agreement, and
which, among other matters, opines that:
(a) The Recipient is duly formed and in good standing in the
jurisdiction in which it was formed and the jurisdiction(s) in which it
transacts business;
(b) The Recipient has the authority to enter into the Assistance
Agreement and undertake the activities that are specified therein;
(c) The Recipient has no pending or threatened litigation that
would materially affect its ability to enter into and carry out the
activities specified in the Assistance Agreement;
(d) The Recipient is not in default of its articles of
incorporation or formation, bylaws or operating agreements, other
organizational or establishing documents, or any agreements with the
Federal government; and
(e) The Recipient is exempt from Federal Income taxation pursuant
to the Internal Revenue Code of 1986.
D. Paperwork Reduction Act: Under the Paperwork Reduction Act (44
U.S.C. chapter 35), an agency may not conduct or sponsor a collection
of information, and an individual is not required to respond to a
collection of information, unless it displays a valid OMB control
number. If applicable, the CDFI Fund may inform Applicants that they do
not need to provide certain Application information otherwise required.
Pursuant to the Paperwork Reduction Act, the SDL Program Application
has been assigned the following control number: 1559-0036.
E. Reporting: The CDFI Fund will require each Recipient that
receives a SDL Program Award through this NOFA to account for and
report to the CDFI Fund on the use of the SDL Program Award. This will
require Recipients to establish administrative controls, subject to the
Uniform Requirements and other applicable OMB guidance. The CDFI Fund
will collect information from each such Recipient on its use of the SDL
Program Award annually following Payment and more often if deemed
appropriate by the CDFI Fund in its sole discretion. The CDFI Fund will
provide guidance to Recipients outlining the format and content of the
information required to be provided to describe how the funds were
used.
The CDFI Fund may collect information from each Recipient
including, but not limited to, an annual report with the components
listed in Table 10:

[[Page 30016]]

Table 10--Reporting Requirements
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Single Audit (if applicable)...... A non-profit Recipient must complete
an annual Single Audit pursuant to
the Uniform Requirements (2 CFR
200.500) if it expends $750,000 or
more in Federal awards in its
fiscal year, or such other dollar
threshold established by OMB
pursuant to 2 CFR 200.501. If a
Single Audit is required, it must
be submitted electronically to the
Federal Audit Clearinghouse (FAC)
(see 2 CFR subpart F-Audit
Requirements in the Uniform
Requirements) and optionally
through AMIS.
Financial Statement Audit......... For-profit and nonprofit Recipients
must submit a Financial Statement
Audit (FSA) report in AMIS, along
with the Recipient's statement of
financial condition audited or
reviewed by an independent
certified public accountant.
Uses of Award Report.............. The Recipient must submit the Uses
of Award Report to the CDFI Fund in
AMIS.
If the Recipient is a Depository
Institution Holding Company that
deploys all or a portion of its SDL
Program grant through its
Subsidiary CDFI Insured Depository
Institution, that Subsidiary CDFI
Insured Depository Institution must
also submit a Uses of Award Report.
Furthermore, if the Depository
Institution Holding Company itself
deploys any portion of the SDL
Program grant, the Depository
Institution Holding Company must
submit a Uses of Award Report.
Performance Progress Report....... The Recipient must submit the
Performance Progress Report through
AMIS.
If the Recipient is a Depository
Institution Holding Company that
deploys all or a portion of its SDL
Program grant through its
Subsidiary CDFI Insured Depository
Institution, that Subsidiary CDFI
Insured Depository Institution must
also submit a Performance Progress
Report. Furthermore, if the
Depository Institution Holding
Company itself deploys any portion
of the SDL Program grant, the
Depository Institution Holding
Company must submit a Performance
Progress Report.
------------------------------------------------------------------------
* Personally Identifiable Information (PII) is information, which if
lost, compromised, or disclosed without authorization, could result in
substantial harm, embarrassment, inconvenience, or unfairness to an
individual. Although Applicants are required to enter addresses of
homes and other properties in AMIS, Applicants should not include the
following PII for the individuals who received the financial products
or services in AMIS or in the supporting documentation (i.e.,--name of
the individual, Social Security Number, driver's license or state
identification number, passport number, Alien Registration Number,
etc.). This information should be redacted from all supporting
documentation (if applicable).

Each Recipient is responsible for the timely and complete
submission of the annual reporting documents. The CDFI Fund will use
such information to monitor each Recipient's compliance with the
requirements set forth in the Assistance Agreement and to assess the
impact of the SDL Program. The CDFI Fund reserves the right, in its
sole discretion, to modify these reporting requirements if it
determines it to be appropriate and necessary; however, such reporting
requirements will be modified only after notice to Recipients.
F. Financial Management and Accounting: The CDFI Fund will require
Recipients to maintain financial management and accounting systems that
comply with Federal statutes, regulations, and the terms and conditions
of the SDL Program Award. These systems must be sufficient to permit
the preparation of reports required by general and program specific
terms and conditions, including the tracing of funds to a level of
expenditures adequate to establish that such funds have been used in
accordance with the Federal statutes, regulations, and the terms and
conditions of the SDL Program Award.
The cost principles used by Recipients must be consistent with
Federal cost principles; must support the accumulation of costs as
required by the principles; and must provide for adequate documentation
to support costs charged to the SDL Program Award. In addition, the
CDFI Fund will require Recipients to: Maintain effective internal
controls; comply with applicable statutes and regulations, the
Assistance Agreement, and related guidance; evaluate and monitor
compliance; take action when not in compliance; and safeguard
personally identifiable information.

VII. Agency Contacts

A. Availability: The CDFI Fund will respond to questions and
provide support concerning this NOFA and the Application between the
hours of 9:00 a.m. and 5:00 p.m. ET, starting on the date of the
publication of this NOFA until the close of business on the third
business day preceding the Application deadline. The CDFI Fund will not
respond to questions or provide support concerning the Application that
are received after 5:00 p.m. ET on said date, until after the
Application deadline. CDFI Fund IT support will be available until 5:00
p.m. ET on date of the Application deadline. Applications and other
information regarding the CDFI Fund and its programs may be obtained
from the CDFI Fund's website at <a href="http://www.cdfifund.gov/sdlp">http://www.cdfifund.gov/sdlp</a>. The CDFI
Fund will post on its website responses to questions of general
applicability regarding the SDL Program.
B. The CDFI Fund's contact information is listed in Table 11:

Table 11--Contact Information
----------------------------------------------------------------------------------------------------------------
Telephone No.
Type of question Preferred method (not toll free) Email addresses
----------------------------------------------------------------------------------------------------------------
SDL Program........................ Submit a Service 202-653-0421 <a href="/cdn-cgi/l/email-protection#3b485f574b7b585f5d52154f495e5a48155c544d">[email&#160;protected]</a>.
Request in AMIS.
CDFI Certification................. Submit a Service 202-653-0423 <a href="/cdn-cgi/l/email-protection#c7a4a4aaa287a4a3a1aee9b3b5a2a6b4e9a0a8b1">[email&#160;protected]</a>.
Request in AMIS.
Compliance Monitoring and Submit a Service 202-653-0423 <a href="/cdn-cgi/l/email-protection#82e1e1efe7c2e1e6e4ebacf6f0e7e3f1ace5edf4">[email&#160;protected]</a>.
Evaluation. Request in AMIS.
Information Technology Support..... Submit a Service 202-653-0422 <a href="/cdn-cgi/l/email-protection#dd9c90948e9dbeb9bbb4f3a9afb8bcaef3bab2ab">[email&#160;protected]</a>.
Request in AMIS.
----------------------------------------------------------------------------------------------------------------

The preferred method of contact is to submit a Service Request
within AMIS. For an SDL Program Application question, select ``Small
Dollar Loan Program'' for the program. For a CDFI Certification
question, select ``Certification.'' For a Compliance question, select
``Compliance & Reporting.'' For Information

[[Page 30017]]

Technology, select ``Technical Issues.'' Failure to select the
appropriate program for the Service Request could result in delays in
responding to your question.
C. Communication With the CDFI Fund: The CDFI Fund will use AMIS to
communicate with Applicants and Recipients, using the contact
information maintained in their respective AMIS accounts. Therefore,
the Recipient and any Subsidiaries, signatories, and Affiliates must
maintain accurate contact information (including contact persons and
Authorized Representatives, email addresses, fax numbers, phone
numbers, and office addresses) in its AMIS account(s). For more
information about AMIS please see the Help documents posted at <a href="https://amis.cdfifund.gov/s/Training">https://amis.cdfifund.gov/s/Training</a>.
D. Civil Rights and Diversity: Any person who is eligible to
receive benefits or services from the CDFI Fund or Recipients under any
of its programs is entitled to those benefits or services without being
subject to prohibited discrimination. The Department of the Treasury's
Office of Civil Rights and Diversity enforces various Federal statutes
and regulations that prohibit discrimination in financially assisted
and conducted programs and activities of the CDFI Fund. If a person
believes that s/he has been subjected to discrimination and/or reprisal
because of membership in a protected group, s/he may file a complaint
with: Director, Office of Civil Rights and Diversity, 1500 Pennsylvania
Ave. NW, Washington, DC 20220 or (202) 622-1160 (not a toll-free
number).
E. Statutory and National Policy Requirements: The CDFI Fund will
manage and administer the Federal award in a manner so as to ensure
that Federal funding is expended and associated programs are
implemented in full accordance with the U.S. Constitution, Federal law,
and public policy requirements: Including, but not limited to, those
protecting free speech, religious liberty, public welfare, the
environment, and prohibiting discrimination.

VIII. Other Information

None.
Authority: Pub. L. 111-203. 12 U.S.C. 4719, 12 CFR part 1805, 12
CFR part 1815, 12 U.S.C. 4502.

Jodie L. Harris,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2022-10526 Filed 5-16-22; 8:45 am]
BILLING CODE 4810-05-P

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