The inaugural application period for the Treasury’s Community Development Financial Institution (CDFI) Fund Bond Guarantee Program is now open. Summit has been working with Treasury to develop the program’s application and issuance strategies through multiple efforts, including data analysis of the CDFI industry.
The Bond Guarantee Program provides guarantees on 100 percent of bonds issued by CDFIs for community and economic development purposes. Implementation of this program requires adherence to regulations outlined in the Small Business Jobs Act of 2010, as well as the Federal Credit Reform Act of 1990. Summit’s team has experience in Federal Credit reform, CDFI development and structuring, and loan underwriting; these skills allow us to provide comprehensive support to the CDFI Fund.
Although this is a major accomplishment in the engagement, the Summit team is eager to continue supporting the CDFI Fund’s goals for the program. To read CDFI's press release, visit their website.