To promote economic revitalization and community development through technical assistance to native community development financial institutions (CDFIS) and emerging CDFIS.

The Department of the Treasury Community Development Financial Institutions Fund awarded a $125,000 Project Grant to Chi Ishobak Inc. under the Native Initiatives federal grant program (CFDA 21.012) to provide technical assistance to Native Community Development Financial Institutions (CDFIs) and emerging CDFIs from September 16, 2021 through December 31, 2023. The grant funds will support eligible technical assistance activities including compensation for personal and professional services, travel costs, training and education, equipment, supplies, and incorporation costs. The goal is to build organizational capacity to serve rural and urban low-income communities and individuals who lack access to affordable financial products and services. Intended beneficiaries include for-profit organizations, private nonprofits, and Native American organizations.

Activities

Technical assistance must be used for the following eligible activities subject to the applicable provisions of the uniform requirements: compensation ? Personal services, compensation ? Fringe benefits, professional service costs, travel costs, training and education costs, equipment, supplies, and incorporation costs (sponsoring entities only). End goal/expected outcomes: the goal of the technical assistance is to build certified and emerging cdfi?S organizational capacity to serve eligible markets and/or their target markets, in order to serve rural and urban low-income people, and communities across the nation that lack adequate access to affordable financial products and financial services.

Intended beneficiaries

Profit organization, private nonprofit institution/organization (includes institutions of higher education and hospitals), native american organizations (includes indian groups, cooperatives, corporations, partnerships, associations).

Subrecipient activities

Only in the case where a cdfi depository institution holding company applicant intends to carry out the activities of an award through its subsidiary cdfi insured depository institution, as identified in its assistance agreement with the cdfi fund.