The Department of Economic Development is offering the Delta Community Capital Initiative (DCCI) grant to support rural nonprofits and Indian tribes in the Lower Mississippi Delta. The program aims to improve access to capital for business lending, economic development, and securing additional funding sources. By providing direct investment and technical assistance, DCCI seeks to enhance economic development services and expand opportunities for underserved residents in the region. This grant will empower local financial institutions to increase their lending and investing capabilities, facilitating broader support for small business owners and entrepreneurs in the Lower Mississippi Delta.
Opportunity ID: 264012
General Information
| Document Type: | Grants Notice |
| Funding Opportunity Number: | FR-5800-N-18 |
| Funding Opportunity Title: | Delta Community Capital Initiative (DCCI) |
| Opportunity Category: | Discretionary |
| Opportunity Category Explanation: | – |
| Funding Instrument Type: | Grant |
| Category of Funding Activity: | Housing |
| Category Explanation: | – |
| Expected Number of Awards: | 5 |
| Assistance Listings: | 14.271 — Delta Community Capital Initiative |
| Cost Sharing or Matching Requirement: | No |
| Version: | Synopsis 1 |
| Posted Date: | Sep 04, 2014 |
| Last Updated Date: | – |
| Original Closing Date for Applications: | Nov 03, 2014 Electronically submitted applications must be submitted no later than 11:59:59 p.m., ET, on the listed application due date. |
| Current Closing Date for Applications: | Nov 03, 2014 Electronically submitted applications must be submitted no later than 11:59:59 p.m., ET, on the listed application due date. |
| Archive Date: | Feb 13, 2015 |
| Estimated Total Program Funding: | $1,000,000 |
| Award Ceiling: | $1,000,000 |
| Award Floor: | $100,000 |
Eligibility
| Eligible Applicants: | Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education Native American tribal governments (Federally recognized) |
| Additional Information on Eligibility: | Applicants that are eligible to participate in this initiative are community development lenders and investors, which may be local rural non-profit organizations. Applicants do not need to be certified as Community Development Financial Institutions by the CDFI Fund at the time of application. If applicants propose to become certified as a CDFI, they should establish milestones and timeframes toward the CDFI certification process in their application. Applicants may serve markets other than Delta residents and communities, using other sources of financing. Individuals, foreign entities, and sole proprietorship organizations are not eligible to compete for, or receive, awards made under this announcement. |
Additional Information
| Agency Name: | Department of Housing and Urban Development |
| Description: |
Purpose of the Program: The purpose of the Delta Community Capital Initiative (DCCI) is to support local rural nonprofits and Federally Recognized Indian tribes serving the Lower Mississippi Delta for lending and investing activities in businesses lending and economic development, and for securing additional sources of public and private capital for these activities. DCCI’s goal is to increase access to capital for business lending and development in the chronically underserved and undercapitalized Lower Mississippi Delta Region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions so that funding opportunities will be more effective and economic development services will expand to the underserved residents of Lower Mississippi Delta Region. DCCI will focus on helping local financial institutions improve their capacity to raise capital, and to lend and invest in local communities. Strengthening local community development lenders and investors will also widen the channels through which larger private institutions and federal agencies can reach small business owners and entrepreneurs who need their support. |
| Link to Additional Information: | http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/grants/fundsavail |
| Grantor Contact Information: | If you have difficulty accessing the full announcement electronically, please contact:
Jackie L. Williams
Jackie.Williams@hud.gov Email:Jackie.Williams@hud.gov |
Version History
| Version | Modification Description | Updated Date |
|---|---|---|
Related Documents
There are no related documents on this grant.
Packages
| Agency Contact Information: | Jackie L. Williams Jackie.Williams@hud.gov Email: Jackie.Williams@hud.gov |
| Who Can Apply: | Organization Applicants |
| Assistance Listing Number | Competition ID | Competition Title | Opportunity Package ID | Opening Date | Closing Date | Actions |
|---|---|---|---|---|---|---|
| 14.271 | FR-5800-N-18 | Delta Community Capital Initiative (DCCI) | PKG00205023 | Sep 04, 2014 | Nov 03, 2014 | View |
Package 1
Mandatory forms
264012 SF424_2_1-2.1.pdf
264012 HUD_FaxTransmittal-1.1.pdf
Optional forms
264012 HUD_DetailedBudget-1.1.pdf
264012 HUD_DisclosureUpdateReport-1.1.pdf
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