14.271: Delta Community Capital Initiative
Alternate Name: Delta Community Capital Initiative DCCI
Overview
Program Number
14.271
Status
Inactive
Last Modified
Aug. 11, 2022
Date Posted
Aug. 11, 2022
Objective
DCCI’s goal is to increase access to capital for business lending and development in the chronically under-served and under-capitalized 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 under-served 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.
Type of Assistance
B - Project Grants
Applicant Eligibility
Applicants that are eligible to participate in this initiative are community development lenders and investors, which may be local rural non-profit organizations or federally recognized tribes. 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 lay out milestones and time frames toward the CDFI certification process in their application. Applicants may serve other markets than Delta residents and communities, using other sources of financing.
Beneficiary Eligibility
Eligible target markets for use of DCCI funds include businesses owned by or serving low income residents of the Lower Mississippi Delta Region. The Delta region includes the 252 counties and parishes in eight states that make up the Lower Mississippi Delta Region, as defined by the Delta Regional Authority. The Delta Regional Authority (DRA) is a federal-state partnership working to stimulate economic development and governed by the Delta Regional Authority Board, comprised of the Federal Co-Chairman, appointed by the President and confirmed by the U.S. Senate, and the governors of the eight states. The eight states that are included in the region are: Alabama, Arkansas, Illinois, Kentucky, Louisiana, Mississippi, Missouri, and Tennessee.
Additional Information
Grant Awards
Delta Community Capital Initiative direct grants
Grant Opportunities