This NOFA announces the availability of $1,000,000 to increase access to capital for business lending and economic development in the chronically underserved and undercapitalized Lower Mississippi Delta Region. The Delta Community Capital Initiative (DCCI) is a collaborative effort among three federal agencies - the Department of Housing and Urban Development (HUD), the Department of the Treasury - Community Development Financial Institutions Fund (CDFI Fund) and the Department of Agriculture - Rural Development (USDA-RD). The DCCI's goal is to increase access to capital for business lending and economic development in the chronically underserved and undercapitalized Lower Mississippi Delta Region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions that focus on businesses lending and economic development to benefit the residents of Lower Mississippi Delta Region. DCCI's goal is to increase access to capital for business lending and economic development in the chronically underserved and undercapitalized Lower Mississippi Delta Region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions (which may be local rural non-profit organizations) so that funding opportunities will be more effective and economic development services will expand to the underserved residents of Lower Mississippi Delta Region. The focus of DCCI will be on helping local financial institutions improve their capacity to raise capital, and to lend and invest in local communities. Strengthening local community development lenders and investors will also widen the channels through which larger private institutions and federal agencies can reach small business owners and entrepreneurs who need their support.
Funding Opportunity Number: FR-5800-N-18
Opportunity Title: Delta Community Capital Initiative (DCCI)
Competition ID: DCCI-18
CFDA No.: 14.271
OMB Approval Numbers: 2506-0200 exp. 6/30/2017
Deadline Date: November 3, 2014
CONTACT INFORMATION: For Assistance, applicants may call Thann Young or Monica Wallace in HUD's Office of Rural Housing and Economic Development at 877-787-2526 or (202) 708-2290. Persons with hearing and speech impairments may access the above numbers via TTY (text telephone) by calling the Federal Relay Service at (800) 877-8339 (this is a toll-free number). Information may also be obtained through the HUD website.