To promote economic revitalization and community development through technical assistance awards to build the capacity of community development financial institutions (CDFIS) and emerging CDFIS.

Nave Bank received a $150,000 Technical Assistance award from the Community Development Financial Institutions Fund (CDFI Fund) under the Community Development Financial Institutions Program (CFDA 21.020), effective September 30, 2025, with completion by December 31, 2028. This Technical Assistance grant funds organizational capacity-building activities designed to enhance Nave Bank's ability to serve eligible markets and low-income communities lacking adequate access to affordable financial products and services. Eligible uses of the funding include personnel compensation and fringe benefits, professional services, travel, training and education, equipment, supplies, and incorporation costs.

As a Technical Assistance recipient, Nave Bank must utilize the award funds within a three-year period (through December 31, 2028) and maintain comprehensive records documenting all costs incurred and achievement of specified performance goals and measures. The funding supports the broader mission of the CDFI Program to promote economic revitalization and community development by strengthening the institutional capabilities of Community Development Financial Institutions serving underserved populations and geographies across the nation.

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 goals: 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 low-income people, and communities across the nation that lack adequate access to affordable financial products and financial services. Beneficiaries: profit organization, private nonprofit institution/organization, other private institution/organization. Investment areas and targeted populations, as defined in 12 C.F.R. 1805. Subrecipients: there are no subrecipients for this program. Broadband: not applicable. Reason for modification: not applicable.