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CDFA Revolving Loan Fund Finance Update - September 12, 2023

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Revolving Loan Funds Update
September 12, 2023
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Revolving Loan Fund Finance Update


Join CDFA at the 2023 National Development Finance Summit
CDFA is traveling to Philadelphia, PA for the 2023 National Development Finance Summit! The NDFS brings together leaders and dealmakers in the development finance industry to discuss best practices, trends, and project financing solutions. Early Bird registration rates end October 13 so register today!

Pennsylvania Allocates $2.2M in New PIDA Loans
Department of Community and Economic Development (DCED) Secretary Rick Siger announced the recent approval of three new low-interest loans through the Pennsylvania Industrial Development Authority (PIDA) to support business expansions and help spur the economy in Beaver, Elk, and Westmoreland counties. Pennsylvania-based businesses across a variety of industries are eligible to apply for PIDA loans including agriculture.

Share Your Experience Lending to the Food System - Short Survey for CDFA Research!
CDFA is researching the feasibility and market demand for a national food systems loan guarantee program to help unlock investment for food- and agriculture-related businesses and projects. This research includes surveying loan funds operated by private, public, and quasi-public development finance agencies (DFAs) around the country to learn more about existing lending programs. Please take a few minutes to share your expertise in this short survey!

Revolving Loan Fund to Bolster Housing Development in Jefferson County, CO
Thrive Economic Development announced the launch of the Live Local Development Fund, an initiative aimed at promoting housing development and fostering vibrant communities across Jefferson County.

Join CDFA for Our Upcoming Intro Tax Credit Finance Course
Register for CDFA's Intro Tax Credit Finance Course taking place on September 27-28 to learn the application of tax credit programs and their use in greater economic development finance efforts. Our panel of expert speakers will discuss tax credit programs including new markets, low-income housing, historic preservation, and state-specific programs.

Kentucky Agricultural Finance Corp. Approves $2.4M in Loans
The Kentucky Agricultural Finance Corp. (KAFC) approved more than $2.4 million for 16 agricultural loans for projects across the Commonwealth through the Agricultural Infrastructure Loan Program (AILP), Beginning Farmer Loan Program (BFLP), and Large/Food Animal Veterinary Loan Program (LFAVLP).

$11M to Revolutionize Investment in Black Agricultural, Food Businesses in New York
Black Farmer Fund (BFF) has reached a major fundraising milestone by successfully raising $11 million of the $20 million goal for BFF Fund 2.0. BFF Fund 2.0 builds off of the Pilot Fund and is a $20 million integrated capital fund that provides Black agricultural and food businesses in the Northeast with grants, patient debt, and technical assistance to optimize their growth potential and social impact.

Tennessee Announces $2.3M for Rocky Top Water Infrastructure
The Tennessee Department of Environment and Conservation (TDEC) announced two loans totaling $2.3 million for the City of Rocky Top to improve water infrastructure. The two loans for the City of Rocky Top come from the Clean Water State Revolving Fund Loan Program and will address infiltration and inflow correction within the wastewater collection system. These loans have a 20-year term at 1.73 percent interest.

New York Receives $185M Federal Grant and Approves $189M Bond for Water Infrastructure
New York announced over $185 million in direct financial assistance for water infrastructure improvement projects across the state. The announcement authorizes municipal access to over $94.7 million in low-cost short-term financing and previously announced grants. The state also took action to help ensure continued, long-term affordability of existing projects, which includes a $189 million bond sale that will save municipalities an estimated $125 million in debt service payments for 25 projects statewide.

DOT Approves $501M TIFIA Loan for Interstate Expansion in Colorado
The U.S. Department of Transportation (DOT) announced that its Build America Bureau has provided a $501 million low-interest Transportation Infrastructure Finance and Innovation Act loan to the Colorado Transportation Investment Office on behalf of the Colorado Department of Transportation to improve a 61-mile corridor of I-25, including adding 52 miles of express toll lanes between Denver and Fort Collins, Colorado.

Upcoming Events
CDFA National Development Finance Summit

CDFA // BNY Mellon Development Finance Webcast Series: Best Practices and Strategies for Housing Finance
September 19, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Webcast Series, development finance practitioners will highlight the variety of finance tools available for supporting affordable housing projects and discuss best practices for deploying these to meet the growing need.

2023 Equitable Lending Learning Series: Identifying Your Target Market
September 26, 2023 - 1:00 PM - 4:00 PM Eastern
During this event in the Equitable Lending Learning Series, speakers will talk about how lenders can reach underserved borrowers, discuss technical strategies and best practices for data collection and learning about borrower needs in a specific community, and illustrate how this information can be used to increase access to capital among underserved small business owners.


FSA Farm Loans Available for Farm Purchase in Pennsylvania
The Daily Item | Sep. 9 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)

DeSantis Announces $1.6M for Florida Small Businesses Recovering From Idalia
The Floridian | Sep. 9 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | State Finance Program

Organic Waste Processing Facility Will Bring More Than 150 Jobs to San Diego, CA
Business Facilities | Sep. 6 | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs)

Clayton County, GA Water Authority Awarded $16M for Water Treatment Plant Upgrades
Clayton News Daily | Sep. 5 | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance

Agriculture Loan Program Open for Kentucky Meat and Poultry Processors, Growers
The Lebanon Enterprise | Aug. 30 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

Colorado's MCEDC Receives $5M Grant for Revolving Loan
The Fort Morgan Times | Aug. 30 | Agriculture Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)

Virginia Loan Fund Provides $412K for Waterloo's All-In Grocers
The Courier | Aug. 28 | Community Development | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs)

Loan Program Rewards Regenerative Agriculture, Sets Example for Other Lenders
Triple Pundit | Aug. 24 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | Resiliency

Wells Fargo Leads $75M Warehouse Finance Facility for Greenbacker Renewable Energy
ABL Advisor | Aug. 23 | Energy Finance | Revolving Loan Funds (RLFs)

Iowa Getting Rural Development Funds for Projects in 4 Counties
Radio Iowa | Aug. 22 | Economic Development | Healthcare | Revolving Loan Funds (RLFs) | Rural Development

Nonprofit Receives $10M State Loan to Invest in West Michigan Housing Projects
Crain's Grand Rapids Business | Aug. 22 | Federal | Housing Finance | Revolving Loan Funds (RLFs)

Microloans Available Through $55.5M Small Business Revolving Loan Fund 2
RCBJ | Aug. 17 | Access to Capital | Economic Development | Federal | Revolving Loan Funds (RLFs)

Plattsburgh, NY to Help Downtown Businesses Through Revolving Loan Fund
Press-Republican | Aug. 16 | Economic Development | Revolving Loan Funds (RLFs)

Lima, OH Launches New Small Business Loan Program
limaohio.com | Aug. 16 | Infrastructure Finance | Revolving Loan Funds (RLFs)

Mississippi's Education Facilities Loan Fund Invests Millions in School Infrastructure
Yahoo!Finance | Aug. 14 | Education | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs)

Kent County, MI to Launch Affordable Housing Revolving Loan Fund With Initial $58M
Crains Grand Rapids Business | Aug. 11 | Housing Finance | Revolving Loan Funds (RLFs)

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


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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • 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
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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