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Community Development Financial Institutions
(CDFI) Fund
REI implemented an online system for the end-to-end grants management
process for the New Markets Tax Credit (NMTC) Program. The process
started with an online application system, which was available
to the applicants 24/7. This handbook approach mitigated the complexities
of the paper application by isolating the user from mathematical
calculations and validations, thus, enhancing the user experience.
This also helped the Fund proactively control, and maintain checks
on, the information that applicants would provide, eliminating
erroneous information that would otherwise be present in paper
applications. The EHB technology was also put to use in building
a seamlessly integrated administrative handbook, which allowed
the Fund to manage the complete allocation process. This handbook
automated the various application review processes, award review
processes, applicant notifications, allocation agreement/Notice
of Allocation document generations, allocation tracking and management
etc. The EHB model also allowed users to build ad-hoc reports and
generate various metrics to identify the impact of the investments
in the Low Income Communities across the nation.
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