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Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices
V. Application Review Information A. Criteria: If the Applicant has submitted an eligible Application, the CDFI Fund will conduct a substantive review in accordance with the criteria and procedures described in the Regulations, this NOFA, the Application guidance, and the Uniform Requirements. The CDFI Fund reserves the right to contact the Applicant by telephone, email, or mail for the purpose of clarifying or confirming Application information. If contacted, the Applicant must respond within the time period communicated by the CDFI
Fund or risk that its Application will be rejected. The CDFI Fund will review the Base-FA, DFFA, PPCFA, HFFIFA, and TA Applications in accordance with the process below. All internal and external reviewers will complete the CDFI Funds conflict of interest process.
The CDFI Funds Application conflict of interest policy is located on the CDFI
Funds website.
1. Base-FA Application Scoring, Award Selection, Review, and Selection Process: The CDFI Fund will evaluate each Application using a five-step review process illustrated in the sections below. Applicants that meet the minimum criteria will advance to the next step in the review process.
Applicants applying as a Community Partnership must describe the partnership in the Application pursuant to the requirements set forth in Table 8, and will be evaluated in accordance with the review process described below.
a. Step 1: Eligibility Review: The CDFI
Fund will evaluate each Application to determine its eligibility status pursuant to Section III of this NOFA.

b. Step 2: Financial Analysis and Compliance Risk Evaluation:
i. Step 2: Financial Analysis: For Regulated Institutions, the CDFI Fund will consider financial safety and soundness information from the Appropriate Federal or State Banking Agency. As detailed in Table 8, each Regulated Institution FA Applicant must have a CAMELS/CAMEL rating of at least 3 and/or no significant materials concerns from its regulator.
For non-regulated Applicants, the CDFI
Fund will evaluate the financial health and viability of each non-regulated Applicant using financial information provided by the Applicant. For the Financial Analysis, each non-regulated Applicant will receive a Total Financial Composite Score on a scale of one 1 to five 5, with one 1 being the highest rating. The Total Financial Composite Score is based on the analysis of twentythree 23 financial indicators.
Applications will be grouped based on the Total Financial Composite Score.
Applicants must receive a Total Financial Composite Score of one 1, two 2, or three 3 to advance to Step 3. Applicants that receive an initial Total Financial Composite Score of four 4 or five 5 will be re-evaluated and re-scored by CDFI Fund staff. If the Total Financial Composite Score remains four 4 or five 5 after CDFI
Fund staff review, the Applicant will not advance to Step 3.
ii. Step 2: Compliance Risk Evaluation: For the compliance analysis, the CDFI Fund will evaluate the compliance risk of each Applicant using information provided in the Application as well as an Applicants reporting history, reporting capacity,
and performance risk with respect to the CDFI Funds PG&Ms. Each Applicant will receive a Total Compliance Composite Score on a scale of one 1 to five 5, with one 1 being the highest rating. Applicants that receive an initial Total Compliance Composite Score of four 4 or five 5 will be re-evaluated by CDFI Fund staff. If the Applicant is deemed a high compliance risk after CDFI Fund staff review, the Applicant will not advance to Step 3.
c. Step 3: Business Plan Review:
Applicants that proceed to Step 3 will be evaluated on the soundness of their comprehensive business plan. Two external non-CDFI Fund Reviewers will conduct the Step 3 evaluation.
Reviewers will evaluate the Application sections listed in Table 13. All Applications will be reviewed in accordance with standard reviewer evaluation materials. Applications will be ranked based on Total Business Plan Scores, in descending order. In order to advance to Step 4, Applicants must receive a Total Business Plan Score that is either 1 equal to receiving a point score equivalent to a Good out of a ranking scale in descending order of Excellent, Good, Fair, Limited or Poor, in each section listed in Table 13, or 2
within the top 70% of the NACA FA
Applicant pool, whichever is greater. In the case of tied Total Business Plan Scores that would prevent an Applicant from moving to Step 4, all Applicants with the same score will progress to Step 4. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when determining the Step 4 Applicant pool.

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TABLE 13STEP 3: BASE-FA BUSINESS PLAN REVIEW SCORING CRITERIA
Base-FA application sections
Possible score
Score needed to advance
Executive Summary
Business Strategy
Market and Competitive Analysis
Products and Services
Management and Track Record
Growth and Projections
Total Business Plan Score

Not Scored
12
7
12
12
7
50

N/A.
N/A.
N/A.
N/A.
N/A.
N/A.
NACA Applicants: Top 70% of all NACA Applicant Step 3
Scores.

d. Step 4: Policy Objective Review:
The CDFI Fund internal reviewers will evaluate each Application to determine its ability to meet policy objectives of the CDFI Fund. Each Applicant will be evaluated in each of the categories listed in Table 14 below, and will receive a Total Policy Objective Review Composite Score on a scale of one 1 to
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five 5, with one 1 being the highest score. Applicants are then grouped according to Total Policy Objective Review Scores.
The CDFI Fund also conducts a due diligence review for Applications that includes an analysis of programmatic risk factors including, but not limited to:
history of performance in managing
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Federal awards including timeliness of reporting and compliance; ability to meet FA Objectives selected by BaseFA Applicants in their Applications;
reports and findings from audits; and the Applicants ability to effectively implement Federal requirements, each of which could impact the Total Policy Objective Review Score.

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