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CDFA Revolving Loan Fund Finance Update - September 13, 2022

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Revolving Loan Funds Update
September 13, 2022
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Revolving Loan Fund Finance Update

Features

Don't Miss the CDFA Ohio Financing Roundtable This Week
Join CDFA on September 14, 2022, in Columbus, Ohio for a one-day conference to share best practices within the development finance industry. Experts from across the state will discuss the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward. If you have a stake in Ohio's economic development finance industry, you won't want to miss this event. Space is limited, register today!

FEMA Launches $50M Loan Fund to Reduce Natural Hazard, Climate Change Vulnerabilities
Under the direction of the Biden administration and drawing on funds from the Bipartisan Infrastructure Law, the Federal Emergency Management Agency (FEMA) will create a $50 million Safeguarding Tomorrow Revolving Loan Fund program to bolster state and local government efforts to fight natural hazards.

Join CDFA for an In-Person Minority Lending Workshop - November 3 in Denver, CO
Accessible small business lending is a critical component of economic justice, yet many loan funds struggle to connect with the full diversity of borrowers in their community. Don't miss this upcoming workshop at the CDFA National Development Finance Summit, Presented by CHFA, where speakers will break down how lenders can build relationships with underserved groups, adapt lending approaches to reach a wider range of borrowers, and make organizational changes to further support the lender's mission.

Great Falls, MT Approves $1.4M to Development Authority for Revolving Loan Fund
City Commissioners in Great Falls, Montana unanimously approved $1.4 million CARES Act funds to the Great Falls Development Authority for their revolving loan fund, which goes to local businesses as gap or bridge loans.

Coalition Awarded $45M to Expand Economic Opportunity in Native Communities
The Mountain | Plains Regional Native Community Development Financial Institutions Coalition will receive about $45 million to accelerate growth of the Indigenous finance sector and expand economic opportunity in Native American communities through a partnership with nine Native organizations.

Regional Planning Council Helps Small Businesses Stay Afloat in South Florida
With assistance from the Economic Development Administration (EDA), the South Florida Regional Planning Council is helping small, minority-owned businesses and other entrepreneurs develop and grow their enterprises. Capitalized with $5.9 million in EDA CARES Act funding, the program is designed to meet the needs of local businesses from Palm Beach to the Florida Keys who were adversely impacted by the pandemic and were unable to obtain conventional funding.

Colorado Startup Loan Fund Introduces New Financing Options to Help Small Businesses
The new Colorado Startup Loan Fund introduces financing options for small business owners across Colorado looking to start, restart, or restructure a business. The Fund will focus on serving business owners who have historically encountered barriers to bank financing so they can start and grow the types of thriving businesses that make up the heart of the Colorado economy and communities.

New York Awarded $501.5M in Federal Funds to Support Small Businesses
New York State has been awarded $501.5 million in federal funds through the State Small Business Credit Initiative, which was reauthorized and expanded as part of the American Rescue Plan Act. The initiative is managed by the U.S. Department of Treasury and provides funds to support programs for small businesses, with emphasis on those still struggling from the economic impact of the COVID-19 pandemic.

Upcoming Events
CDFA National Development Finance Summit

CDFA // BNY Mellon Development Finance Webcast Series: Deploying Capital in Native American Communities
Tuesday, September 13, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, a panel of experts will share insights on how to preserve and grow tribal communities by unlocking development finance tools.

Intro Tax Credit Finance WebCourse
September 19-20, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Intro Tax Credit Finance WebCourse examines the application of tax credit programs in greater economic development finance efforts. This course discusses the practical application of tax credit programs including brownfields, new markets, low-income housing, historic preservation, and state-specific programs.

Headlines

$200M Investment in Illinois Water Infrastructure
ABC 20 | Sep. 12 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | State Revolving Fund

The BIPOC Loan Fund is Helping Small Tucson, AZ Businesses
KJZZ | Sep. 12 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs) | Social Finance

Diverse Erie Creates $1.8 Million Small Business Fund in Erie, PA
Erie News Now | Sep. 6 | Access to Capital | Disaster Recovery & Relief | Economic Development | Revolving Loan Funds (RLFs)

Low-Income Credit Unions Awarded $1.5M from NCUA Grants
Credit Union Times | Sep. 1 | Access to Capital | Community Development | Economic Development | Revolving Loan Funds (RLFs)

Pennsylvania Business Organizations Apply for State Funding Through State Small Business Credit Initiative
Pennsylvania Business Report | Sep. 1 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs) | State Small Business Credit Initiative (SSBCI)

Kansas City, MO Receives Nearly $6M for Former Army Depot Cleanup
WDAF-TV | Aug. 31 | Brownfield Financing | Redevelopment | Revolving Loan Funds (RLFs)

Equitable Facilities Fund Announces Fourth Bond Issuance to Support Educational Equity
PR Newswire | Aug. 30 | Access to Capital | Community Development | Education | Revolving Loan Funds (RLFs) | Social Finance

One Pennsylvania Farm Raised $165K Using a Lending Platform for Sustainable Agriculture
Lancaster Farming | Aug. 29 | Access to Capital | Agriculture Finance | Crowdfunding | Food Systems Finance | Innovation Finance | Revolving Loan Funds (RLFs) | Resiliency

San Diego, CA Social Equity Proposal Could Provide Needed Fixes for Cannabis Industry
Nug Magazine | Aug. 26 | Access to Capital | Cannabis Finance | Economic Development | Revolving Loan Funds (RLFs)

Ohio's Ag-LINK Program Offers Financial Relief to AgCredit Borrower-Owners
BG Independent News | Aug. 25 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

Waupaca County, WI Spends $4.25M in ARPA Funds on Infrastructure, Small Businesses
Waupaca Now | Aug. 23 | Access to Capital | Community Development | Disaster Recovery & Relief | Economic Development | Education | Infrastructure Finance | Revolving Loan Funds (RLFs)

Challis, ID Awarded $3M Loan to Rebuild Water System
Idaho Capital Sun | Aug. 23 | Access to Capital | Bond Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | State Revolving Fund

New Hampshire Approves $18.5M for Water Infrastructure Projects
WaterWorld | Aug. 19 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | Drinking Water | Sewage & Waste | State Revolving Fund

Farm Credit System 2021 Lending Results
Progressive Farmer | Aug. 16 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs)

$10M Going Into Jackson, MI Wastewater and Water Treatment Facilities
FOX 47 | Aug. 15 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | Water Finance | Sewage & Waste | State Revolving Fund

Arkansas Approves $54.4M in Loans for Statewide Water Projects
TB&P | Aug. 15 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | Water Finance | State Revolving Fund



The Council of Development Finance Agencies (CDFA) is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information, visit www.CDFA.net or email info@cdfa.net


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

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CDFA National Sponsors

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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