U.S. Department of the Treasury Guarantees $498 Million in Bond Funding for Projects in Low-Income Communities, Marking Largest Bond Issuance in Program History

WASHINGTON – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced an agreement to issue three guarantees worth $498 million under the CDFI Bond Guarantee Program, the largest issuance in the program’s history.The CDFI Bond Guarantee program provides long-term, fixed-rate capital for projects in low-income urban, rural, and Native communities, and the guarantees will be issued on behalf of 10 Eligible CDFIs under the fiscal year (FY) 2024 program round. Nearly $3 billion has been guaranteed since the program began in 2010.“Community Development Financial Institutions play an essential role to help businesses and organizations get off the ground and expand all over the country. Today’s historic announcement will increase their access to capital to help realize projects that expand housing supply, grow small businesses, and ensure access to health care and child care,” said U.S.