Appalachia Economic Development Initiative (AEDI)

Post Date

September 4th 2014

Application Due Date

November 3rd 2014

Electronically submitted applications must be submitted no later than 11:59:59 p.m., ET, on the listed application due date.

Funding Opportunity Number

FR-5800-N-19

CFDA Number(s)

14.270

Funding Instrument Type(s)

Grant

Funding Activity Categories

Housing

Number of Awards

5

Eligibility Categories

State Governments

Applicants that are eligible to participate in this initiative are State community and/or economic development agencies. Individuals, foreign entities, and sole proprietorship organizations are not eligible to compete for, or receive, awards made under this announcement.

Funding

• Estimated Total Funding:

  $1000000

• Award Range:

  $100000 - $1000000

Grant Description

Program Description: AEDI’s goal is to increase access to capital for business lending and development in the chronically underserved and undercapitalized Appalachian region. Applicants that are eligible to participate in this initiative are State community and/or economic development agencies. Specifically the AEDI will provide direct investment and technical assistance to community development lending and investing institutions in areas of the Appalachian Region that suffer from a lack of capacity to support business development. The AEDI will coordinate with ARC’s economic development programs such as the ACC intermediary to identify areas within the Appalachian Region that are most in need of lending and investment capacity. The AEDI will provide funding and assistance through State community and/or economic development agencies to support local rural non-profit organizations that will increase the capital and support available to businesses in underserved communities and enhance the effectiveness of economic development programs for these areas. AEDI will focus on improving Appalachian communities and creating asset building opportunities for Appalachian residents by helping local financial institutions improve their capacity to raise capital from public and private sources, and to lend and invest it 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 service providers who need their support.

Contact Information

• Agency

  Department of Housing and Urban Development

• Office:

  None

• Agency Contact:

  Jackie Williams
  Jackie.Williams@hud.gov
  

• Agency Mailing Address:

  Grants Policy

• Agency Email Address:

  Jackie.Williams@hud.gov

• More Information:

  http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/grants/fundsavail