[Federal Register Volume 86, Number 81 (Thursday, April 29, 2021)]
[Notices]
[Pages 22765-22780]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-08848]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Funding Opportunities; Small Dollar Loan Program; 2021 Funding 
Round

    Funding Opportunity Title: Notice of Funds Availability (NOFA) 
inviting Applications for the fiscal year (FY) 2021 Funding Round of 
the Small Dollar Loan Program (SDL Program).
    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2021-SDL.
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.025.
    Dates:

           Table 1--FY 2021 Small Dollar Loan Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
          Description                     Deadline             Time (eastern time-ET)       Submission method
----------------------------------------------------------------------------------------------------------------
OMB Standard Form (SF)-424       May 28, 2021..............  11:59 p.m. ET.............  Electronically via
 Mandatory form.                                                                          Grants.gov.
Last day to enter EIN and DUNS   May 28, 2021..............  11:59 p.m. ET.............  Electronically via
 numbers in AMIS.                                                                         Awards Management
                                                                                          Information System
                                                                                          (AMIS).
Last day to contact SDL Program  June 25, 2021.............  5:00 p.m. ET..............  Service Request via
 Staff.                                                                                   AMIS or CDFI Fund
                                                                                          Helpdesk: 202-653-0421
                                                                                          or
                                                                                          [email protected].
Last day to contact              June 25, 2021.............  5:00 p.m. ET..............  CCME Helpdesk: 202-653-
 Certification, Compliance                                                                0423 or Compliance and
 Monitoring and Evaluation                                                                Reporting AMIS Service
 (CCME) staff.                                                                            Request.
Last day to contact IT Help      June 29, 2021.............  5:00 p.m. ET..............  CDFI Fund IT Helpdesk:
 desk re AMIS support and                                                                 202-653-0422 or IT
 Application submission.                                                                  AMIS Service Request.
SDL Program Application and      June 29, 2021.............  5:00 p.m. ET..............  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 defray the costs of a small dollar loan program 
established or maintained by such institution; 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 a new program, 
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

[[Page 22766]]

Requirements. Details regarding Application content requirements are 
found in the Application and related materials at www.cdfifund.gov/sdlp.
    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 nearly $4 billion through a variety of monetary awards 
programs to CDFIs, community development organizations, and financial 
institutions. In addition, the CDFI Fund has allocated $61 billion in 
tax credit allocation authority to Community Development Entities 
through the New Markets Tax Credit Program (NMTC Program), and has 
guaranteed more than $1.7 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) Koffer 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 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.
    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. Automatic loan insurance   Loans that automatically include add-on
 or credit card add-ons.        insurance products that require
                                borrowers to 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.
                                   Does not offer a workout
                                   program or other accommodations to
                                   help struggling borrowers before
                                   pursuing other debt collection
                                   avenues.
                                   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.
                                   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.
------------------------------------------------------------------------


[[Page 22767]]

    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; and
    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.

II. Federal Award Information

    A. Funding Availability: The CDFI Fund expects to award, through 
this NOFA, up to $13.5 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 to be
                                                  closed On-Balance
                                                  Sheet Small Dollar
                                                  Loans, not to exceed
                                                  $350,000.
Technical Assistance...........          10,000  $150,000.
Combination of Loan Loss                 30,000  $500,000 (up to Up to
 Reserves and Technical                           20% of the Applicant's
 Assistance.                                      3 year Projected Total
                                                  to be closed On-
                                                  Balance Sheet Small
                                                  Dollar Loans, not to
                                                  exceed $350,000 plus
                                                  $150,000).
------------------------------------------------------------------------

    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 2021 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 metrics, 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 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 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:

[[Page 22768]]



 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.
(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
                                200.474 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 prepare or assist
                                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, 2020 (Pub. L. 116-63) and Consolidated 
Appropriations Act, 2021 (Pub. L. 116-260), 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: https://www.cdfifund.gov/Documents/PPC%20updated%20Oct.2017.xlsx. 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:
    i. A Certified CDFI; and
    ii. 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

[[Page 22769]]

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 2021 SDL 
Program funding round or apply as a partner for more than one 
Application submitted under the FY 2021 SDL Program funding round. A 
partnership is a formal arrangement, as evidenced by a 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 LLRs 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 that it will refer all small 
dollar loan candidates to the CDFI. ABC Certified CDFI chooses to 
apply as a partnership with the local FIDI as its partner. ABC 
Certified CDFI will explain in its narrative and Partnership 
Agreement how an 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 an 
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 an SDL Program Award for TA and the financial 
counseling provided to potential borrowers and 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...............   Must be a Certified CDFI as set
                                forth in 12 CFR 1805.201 and verified in
                                the CDFI's AMIS account as of the
                                publication date of this NOFA.
                                   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.
                                   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.
                                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.
                                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.................   Is not required to be a
                                Certified CDFI.
                                Must have a primary mission to
                                serve targeted Investment Areas.
Application and submission      Applicants must submit the
 overview through Grants.gov    Required Application Documents listed in
 and Awards Management          Table 6.
 Information System (AMIS).     The CDFI Fund will only accept
                                Applications that use the official
                                Application templates provided on the
                                Grants.gov and AMIS websites.
                                Applications submitted with alternative
                                or altered templates will not be
                                considered.
                                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 Grants.gov and (2) all
                                other Required Application Documents in
                                AMIS.
                                Grants.gov and the SF-424:
                                   Grants.gov: Applicants must
                                   submit the Standard Form (SF) SF-424,
                                   Application for Federal Assistance.

[[Page 22770]]

 
                                   All Applicants must register
                                   in the Grants.gov system to
                                   successfully submit an Application.
                                   The CDFI Fund strongly encourages
                                   Applicants to register as soon as
                                   possible.
                                   The CDFI Fund will not extend
                                   the SF-424 application deadline for
                                   any Applicant that started the
                                   Grants.gov 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.
                                   The SF-424 must be submitted
                                   in Grants.gov 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 Grants.gov portal.
                                   The deadline for the
                                   Grants.gov submission is before the
                                   AMIS submission deadline.
                                   The SF-424 must be submitted
                                   under the SDL Program Funding
                                   Opportunity Number for the SDL
                                   Program Application.
                                   If the SF-424 is not accepted
                                   by Grants.gov by the deadline, the
                                   CDFI Fund will not review any
                                   material submitted in AMIS and the
                                   Application will be deemed
                                   ineligible.
                                AMIS and all other Required
                                Application Documents listed in Table 6:
                                   AMIS is an enterprise-wide
                                   information technology system.
                                   Applicants will use AMIS to submit
                                   and store organization and
                                   Application information with the CDFI
                                   Fund.
                                   Applicants are only allowed
                                   one SDL Program Application
                                   submission in AMIS.
                                   Each Application in AMIS must
                                   be signed by an Authorized
                                   Representative.
                                   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.
                                   Only the Authorized
                                   Representative or Application Point
                                   of Contact, included in the
                                   Application, may submit the
                                   Application in AMIS.
                                   All Required Application
                                   Documents must be submitted in AMIS
                                   on or before the deadline specified
                                   in Tables 1 and 6.
                                   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         Applicants must have a unique
 Number (EIN).                  EIN assigned by the Internal Revenue
                                Service (IRS).
                                The CDFI Fund will reject an
                                Application submitted with the EIN of a
                                parent or Affiliate organization.
                                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.
                                Applicants must enter their EIN
                                into their AMIS profile by the deadline
                                specified in Tables 1 and 6.
Dun & Bradstreet, (DUNS)        Pursuant to OMB guidance (68 FR
 number.                        38402), an Applicant must apply using
                                its unique DUNS number in Grants.gov.
                                The CDFI Fund will reject an
                                Application submitted with the DUNS
                                number of a parent or Affiliate
                                organization.
                                The DUNS number in the
                                Applicant's AMIS account must match the
                                DUNS number in the Applicant's
                                Grants.gov and SAM accounts. The CDFI
                                Fund will reject an Application if the
                                DUNS number in the Applicant's AMIS
                                account does not match the DUNS number
                                in its Grants.gov and SAM accounts.
                                Applicants must enter their DUNS
                                number into their AMIS profile on or
                                before the deadline specified in Tables
                                1 and 6.
                                For Applicants applying as a
                                partnership, the DUNS number of the
                                designated lead Certified CDFI Applicant
                                in AMIS must match the DUNS number on
                                the SF-424 submitted through Grants.gov.
System for Award Management     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.
                                Applicants must register in SAM
                                as part of the Grants.gov registration
                                process.
                                Applicants must have a DUNS
                                number and an EIN number in order to
                                register in SAM.
                                Applicants must be registered in
                                SAM in order to submit an SF-424 in
                                Grants.gov.
                                The CDFI Fund reserves the right
                                to deem an Application ineligible if the
                                Applicant's SAM account expires during
                                the Application evaluation period, or is
                                set to expire before September 30, 2021,
                                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.................   The Authorized Representative
                                and/or Application Point of Contact must
                                be included as ``users'' in the
                                Applicant's AMIS account.
                                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.............   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.

[[Page 22771]]

 
Compliance with                 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          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.
                                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.
                                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.................   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)).
                                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.
                                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
                                C.F.R. 200.216 of the Uniform
                                Requirements, with respect to any Direct
                                Costs.
                                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.......   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           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        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.
                                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            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.
                                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\...   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''.
                                SDL Program Applicants with
                                CAMELS/CAMEL ratings of ``4'' or ``5''
                                will not be eligible for awards.
                                The CDFI Fund will also evaluate
                                material concerns identified by the
                                Appropriate Federal Banking Agency in
                                determining the eligibility of Regulated
                                Institution Applicants.
------------------------------------------------------------------------


[[Page 22772]]

     
---------------------------------------------------------------------------

    \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.
---------------------------------------------------------------------------

    Any Applicant that does not meet the criteria in Table 5 is 
ineligible to apply for an SDL Program Award under this NOFA.
    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 Certification, Compliance Monitoring and Evaluation 
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 [email protected] or by telephone at (202) 
653-0421. The CDFI Fund will not respond to Applicants' reporting, 
compliance, or disbursement telephone calls or email inquiries that are 
received after 5:00 p.m. ET on June 25, 2021 until after the 
Application deadline. The CDFI Fund will respond to technical issues 
related to AMIS Accounts through 5:00 p.m. ET on June 29, 2021, via 
AMIS Service Requests, or at [email protected], 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 2020 and 2021 
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 CFR1807.104. 
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 http://www.cdfifund.gov/sdlp for more details).
    2. An Applicant will not be eligible to receive an SDL Program 
Award if the Applicant ails 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. SDL Program Awards will not 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 Grants.gov and the CDFI Fund's website at 
www.cdfifund.gov/sdlp. Applicants may request a paper version of any 
Application material by contacting the CDFI Fund Help Desk by email at 
[email protected] or by telephone at (202) 653-0421.
    B. Content and Form of Application Submission: The CDFI Fund will 
post to its website, at www.cdfifund.gov/sdlp, 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 2021 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.                              Grants.gov.         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 completed                         Loan funds,
 fiscal years prior to the                              venture capital
 publication date of this NOFA).                        funds, and other
                                                        non-Regulated
                                                        Institutions.

[[Page 22773]]

 
Management Letter for the          PDF in AMIS.......  Required only for
 Applicant's Most Recently                              Loan funds,
 Completed Fiscal Year.                                 venture capital
                                                        funds, and other
                                                        non-Regulated
                                                        Institutions.
The Management Letter is prepared
 by the Applicant's auditor and
 is a 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.
Statement(s) in Lieu of
 Management Letter for
 Applicant's Most Recently
 Completed Fiscal Year issued by
 the Board Treasurer or other
 Board member using the template
 provided in the Application
 materials (required only if
 Management Letters are not
 available for audited financial
 statements).
Year-end call reports for          PDF in AMIS.......  Required only for
 Applicant's three most recently                        Regulated
 completed fiscal years prior to                        Institutions.
 the publication date of the NOFA
 (for additional guidance see
 FAQ).
A Qualified Federally Insured      PDF in AMIS.......  Required only for
 Depository Institution                                 a federally
 Partnership Attestation Form                           insured
 demonstrating that the federally                       depository
 insured depository institution                         institution that
 has a primary mission of serving                       is applying as a
 targeted Investment Areas.                             partnership with
                                                        a Certified CDFI
                                                        for an LLR
                                                        award.
A Partnership Agreement between a  PDF in AMIS.......  Required only
 Certified CDFI and federally                           for: (1) A
 insured depository institution                         federally
 that has a primary mission of                          insured
 serving targeted Investment                            depository
 Areas applying for an LLR award                        institution and
 or a partnership between or                            a Certified CDFI
 among two or more Certified                            applying for an
 CDFIs applying for a TA award                          LLR award; and
 detailing the terms of their                           (2) two or more
 partnership to establish or                            Certified CDFIs
 maintain a small dollar loan                           that are
 program.                                               applying as a
                                                        partnership for
                                                        a TA award.
------------------------------------------------------------------------

    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 Grants.gov 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 Grants.gov in order to provide sufficient time to 
resolve any potential submission issues.
    Applicants should contact Grants.gov directly with questions 
related to the registration or submission process, as the CDFI Fund 
does not administer the Grants.gov system.
    The CDFI Fund strongly encourages Applicants to start the 
Grants.gov registration process as soon as possible, as it may take 
several weeks to complete (refer to the following link: http://www.grants.gov/web/grants/register.html). An Applicant that has 
previously registered with Grants.gov must verify that its registration 
is current and active. If an Applicant has not previously registered 
with Grants.gov, it must first successfully register in SAM.gov, as 
described in Section IV.D below.
    C. Dun and Bradstreet Data Universal Numbering System: Pursuant to 
the Uniform Requirements, each Applicant must provide as part of its 
Application submission a valid Dun & Bradstreet Data Universal 
Numbering System (DUNS) number. Any Applicant without a DUNS number 
will not be able to register in the System for Award Management (SAM) 
or register and submit an Application in the Grants.gov system. Please 
allow sufficient time for Dun & Bradstreet to respond to inquiries and/
or requests for DUNS numbers.
    D. System for Award Management: Any entity applying for Federal 
grants or other forms of Federal financial assistance through 
Grants.gov must be registered in SAM before submitting its Application 
materials through that platform. When accessing SAM.gov, users will be 
asked to create a login.gov user account (if they do not already have 
one). Going forward, users will use their login.gov username and 
password every time when logging into SAM.gov. 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 DUNS number is 
required by SAM and must be mailed to the Federal Service Desk. This 
requirement is applicable to new entities registering in SAM, as well 
as existing entities with registrations being updated or renewed in 
SAM. Applicants that have previously completed the SAM registration 
process must verify that

[[Page 22774]]

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 https://www.sam.gov or call 866-606-8220.

            Table 7_Grants.gov Registration Timeline Summary
------------------------------------------------------------------------
                                                 Estimated  minimum time
             Step                   Agency              to complete
------------------------------------------------------------------------
Obtain a DUNS number.........  Dun & Bradstreet  One Week.*
Register in SAM.gov..........  System for Award  Four Weeks.*
                                Management
                                (SAM).
Register in Grants.gov.......  Grants.gov......  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 DUNS
  number, and/or fails to properly register in Grants.gov.
** This estimate assumes an Applicant has a DUNS number, an EIN number,
  and is already registered in SAM.gov.

    E. Submission Dates and Times:
    1. Submission Deadlines: Table 8 lists the deadlines for submission 
of the documents related to the FY 2021 SDL Program Funding Round:

                                                  Table 8--FY 2020 SDL Program Deadlines for Applicants
--------------------------------------------------------------------------------------------------------------------------------------------------------
              Document                            Deadline                 Time-- eastern time (ET)                     Submission method
--------------------------------------------------------------------------------------------------------------------------------------------------------
SF-424 Mandatory form...............  May 28, 2021...................  11:59 p.m......................  Electronically via Grants.gov.
Create AMIS Account (if the           May 28, 2021...................  11:59 p.m......................  Electronically via AMIS.
 Applicant does not already have
 one).
SDL Program Application and Required  June 29, 2021..................  5:00 p.m.......................  Electronically via AMIS.
 Attachments.
--------------------------------------------------------------------------------------------------------------------------------------------------------

    2. Confirmation of Application Submission in Grants.gov and AMIS: 
Applicants are required to submit the SF-424 Mandatory Form through the 
Grants.gov system under the FY 2021 SDL Program Funding Opportunity 
Number (listed at the beginning of this NOFA). All other required 
Application materials must be submitted through the AMIS website. 
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 
Grants.gov 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 Grants.gov 
portal, given that potential submission issues may impact the ability 
to submit a complete Application.
    (a) Grants.gov Submission Information: Each Applicant will receive 
an initial email from Grants.gov immediately after submitting the SF-
424, confirming that the submission has entered the Grants.gov 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 Grants.gov 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 Grants.gov directly. The 
Application materials submitted in AMIS are not accepted by the CDFI 
Fund until Grants.gov has validated the SF-424. In the Grants.gov 
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

[[Page 22775]]

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 Grants.gov, which does allow for multiple submissions of the 
SF-424. If an Applicant submits multiple SF-424 Applications in 
Grants.gov, the CDFI Fund will only review the SF-424 Application 
submitted in Grants.gov 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 Grants.gov 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 Grants.gov, SAM.gov, AMIS or any other applicable 
government system. Please note that this exception does not apply to 
errors arising from obtaining a DUNS number from Dun & Bradstreet, 
which is not a government entity. An Applicant unable to make timely 
submission of its Application due to any errors in the process of 
obtaining a DUNS number will not be allowed to submit its Application 
after the Application deadline has passed.
    (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 
via an AMIS service request to the SDL Program with a subject line of 
``Late SF-424 Submission Request--Small Dollar Loan Program.''
    (b) 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 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

[[Page 22776]]

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 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 promote 
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

[[Page 22777]]

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, 2021. 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.

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.
    If the Recipient's certification status as a CDFI changes prior to 
entering into an Assistance Agreement, the CDFI Fund reserves the 
right, in its sole discretion, to re-calculate the SDL Program Award, 
or modify the Assistance Agreement based on the Recipient's non-CDFI 
status.
    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       If an Applicant received a prior
 requirements.                  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.
                                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.
                                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.

[[Page 22778]]

 
Failure to maintain CDFI        A Recipient must be a Certified
 Certification (if              CDFI as is defined in the SDL Program
 applicable).                   Application and this NOFA, prior to
                                entering into an Assistance Agreement.
                                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.
                                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           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.
                                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        If, at any time prior to
 status.                        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.
Compliance with Federal civil   If, prior to entering into an
 rights requirements.           Assistance Agreement under this NOFA,
                                the Recipient receives a final
                                determination, made within the last
                                three years, 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...................   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.
                                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.........   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

[[Page 22779]]

    (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:

                    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 200.500. 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

[[Page 22780]]

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 http://www.cdfifund.gov/sdlp. 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 number
         Type of question              Preferred method      (not toll free)            Email addresses
----------------------------------------------------------------------------------------------------------------
SDL Program.......................  Submit a Service             202-653-0421  [email protected].
                                     Request in AMIS.
CDFI Certification................  Submit a Service             202-653-0423  [email protected].
                                     Request in AMIS.
Compliance Monitoring and           Submit a Service             202-653-0423  [email protected].
 Evaluation.                         Request in AMIS.
Information Technology Support....  Submit a Service             202-653-0422  [email protected].
                                     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 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 https://amis.cdfifund.gov/s/Training.
    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: Associate Chief Human Capital Officer, 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, 
statutory, 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. 110-289. 12 U.S.C. 4701, 12 CFR part 1805, 
12 CFR part 1807, 12 CFR part 1815, 12 U.S.C. 4502.

Jodie L. Harris,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2021-08848 Filed 4-28-21; 8:45 am]
BILLING CODE 4810-05-P