Today, the U.S. Department of Treasury announced the completion of funding under its Community Development Capital Initiative (CDCI), a program created under the Emergency Economic Stabilization Act’s Troubled Asset Relief Program (TARP). The CDCI investments announced today provided $312 million in funds to 38 Community Development Financial Institutions (CDFIs) and close the program a few days shy of the October 3 expiration of Treasury's TARP purchase authority.

Treasury has invested over $570 million under the CDCI in 84 CDFIs in an effort to strengthen those financial institutions that lend to small businesses and families in underserved communities. To qualify as a CDFI, an institution must target at least 60% of its lending and other economic development activities in underserved areas.