About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

CDFA Revolving Loan Fund Finance Update - July 14, 2020

Having trouble viewing this newsletter? View it online.
Revolving Loan Funds Update
July 14, 2020
Subscribe
View Archives
Revolving Loan Fund Finance Update

Features

CDFA Announces the CDFA-Frost Brown Todd Infrastructure Finance Collaboration
The Council of Development Finance Agencies has partnered with Frost Brown Todd and its affiliate FBT Project Finance Advisors on the new CDFA Intro Infrastructure Finance WebCourse and the CDFA Finance Toolbox video series. This collaboration will focus on financial challenges and opportunities facing communities working to develop or upgrade energy, water, broadband, disaster recovery, transportation, and other services, and provide expert analyses to inform the development finance industry.

Ohio Microlender Launches $10M Ohio COVID-19 Loan Fund
The Ohio Development Services Agency has created a $10 million revolving loan fund to help women- and minority-owned businesses recover from the coronavirus fallout, administered statewide by microlender Economic and Community Development Institute.

Wells Fargo Launches $400M Small Business Recovery Effort
Wells Fargo unveiled details of an approximately $400M effort to help small businesses impacted by the ongoing COVID-19 pandemic remain open, retain employees and rebuild. The Open for Business Fund's initial grants will allocate $28M to CDFIs aimed at empowering Black and African American-owned small businesses, which are closing at nearly twice the rate of the industry, according to the National Bureau of Economic Research.

Georgia Senators Secure $12M in CARES Act Funding
Through the Coronavirus Aid, Recovery and Economic Stability (CARES) Act, the U.S. Department of Commerce's Economic Development Administration is awarding Recovery Assistance grants to capitalize and administer Revolving Loan Funds that will provide critical gap financing to small businesses and entrepreneurs in Georgia that have been adversely affected by the coronavirus pandemic.

MVEDC Is Now Valley Partners; Launches New Loan Fund
In order to better identify and align itself with its mission and impact across the region, what was once the Mahoning Valley Economic Development Corp. is now Valley Economic Development Partners. Additionally, last week, it was announced that Valley Partners would receive a $5M EDA grant drawn from the Coronavirus Aid, Relief and Economic Security, or CARES, Act which will be used to create a new fund – the Valley Partners Revolving Loan Fund.

DoorDash Will Match Loans to Black-Owned Businesses
DoorDash's loan program aims to help improve Black-owned businesses' access to capital by matching funds from Kiva, a nonprofit lending company. DoorDash has established a $150,000 revolving loan fund to support the program, the company said.

States Prepare to Spend Millions to Address Flooding
A handful of states are preparing to spend millions of dollars to address flooding, as extreme rain and sea level rise threaten communities along rivers and coastlines. On July 1, Virginia's new Community Flood Preparedness Fund went into effect. It will set aside an estimated $45 million a year for flood mitigation projects.

Fed's $600B Main Street Lending Program Sees Lukewarm Interest
The government is offering to lend up to $600 billion to help small and midsize businesses weather the coronavirus-induced recession, but so far interest has been sparse. Under the Main Street Lending Program, commercial banks lend to companies and then sell all but a small portion of each loan to the Federal Reserve. The Treasury Department stands ready to cover the Fed's losses if companies fail to repay. More than two months after the program was announced, however, some bankers say they are still trying to decide whether to take part.

Capito, Katko Propose Bipartisan, Bicameral Bill to Enhance Revolving Federal Loan Funds
U.S. Sen. Shelley Moore Capito (R-WV) and U.S. Rep. John Katko (R-NY) unveiled bipartisan, bicameral legislation that aims to promote lending to businesses and create jobs by improving access to revolving federal loan funds. Specifically, the Reinvigorating Lending for the Future (RLF) Act of 2020 would reduce barriers to lending for recipients of capitalization grants through the U.S. EDA Revolving Loan Fund Program, according to a bill summary provided by the senator's office.

Comerica Bank Pledges $1M to Launch Black-Owned Business Fund
Comerica Bank will commit $1 million to a new initiative focused on increasing access to capital for black-owned businesses. The small business program is set to pilot in Comerica's five primary markets of Arizona, California, Florida, Michigan, and Texas, and it will become available in all 50 states in 2021.

Upcoming Events
CDFA Virtual Summer School

CDFA // BNY Mellon Development Finance Webcast Series: Financing Small Business Recovery After COVID-19
Tuesday, July 21, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, join us for a discussion about the impacts of COVID-19 on access to capital and how finance tools have evolved to meet the growing needs of small businesses as the nation works towards economic recovery.

CDFA Food Systems Finance Webinar Series: Neighborhood Revitalization Through Food Systems Finance
Thursday, July 30, 2020 - 2:00 PM Eastern
This installment of the CDFA Food Systems Finance Webinar Series will illustrate the many positive impacts that result from financing food systems at a neighborhood scale, with speakers to showcase the versatility of projects and financing approaches.

Headlines

PPP Data Errors Raise Questions About Effectiveness of Stimulus
American Banker | Jul. 13 | Access to Capital | Disaster Recovery & Relief | Federal | Revolving Loan Funds (RLFs) | U.S. Small Business Administration (SBA) | COVID-19

Larimer County Small Business Recovery Loan Fund Reaches $5M Goal
Loveland Reporter-Herald | Jul. 12 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Local Finance Program | Revolving Loan Funds (RLFs) | COVID-19

The Need to Expand Hometown Meatpacking Facilities
Leavenworth Times | Jul. 11 | Access to Capital | Food Systems Finance | Revolving Loan Funds (RLFs) | State Finance Program | Tax Credits

$1.5M in Ag Loans Approved by Kentucky Agriculture Finance Corp
WTVQ | Jul. 10 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

Port Angeles, WA City Council Approves Complete Streets RLF
Peninsula Daily News | Jul. 10 | Infrastructure Finance | Local Finance Program | Revolving Loan Funds (RLFs)

Black Executives Launch Fund to Erase Urban and Rural Broadband Deserts
The Black Chronicle | Jul. 8 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | Social Finance | Urban Development | Broadband

Gov. Ricketts of Nebraska Cuts Ribbon on New Home in Holdrege Constructed with Rural Workforce Housing Funds
EIN Presswire | Jul. 8 | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development

$1.5M Loan Program for Minority and Women-Owned Businesses Launched in Connecticut
New Haven Independent | Jul. 7 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | Social Finance | Case Studies | COVID-19

EPA Announces $300K to Texarkana, TX, for Additional Clean up and Reuse of Brownfield Sites
Texarkana Gazette | Jul. 6 | Brownfield Financing | Revolving Loan Funds (RLFs)

Congress Extends Small-Business Loan Program
The New York Times | Jul. 1 | Access to Capital | Disaster Recovery & Relief | Legislative | Revolving Loan Funds (RLFs) | COVID-19

Tax Credit, Loans Available to Small Agriculture Businesses in Missouri
News Tribune | Jun. 29 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Tax Credits

Delaware County, OH Rolls Out Revolving Loan Fund
The Delaware Gazette | Jun. 23 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs) | COVID-19

EPA Announces $900K to Brownfield RLFs in New York
EPA | Jun. 18 | Brownfield Financing | Revolving Loan Funds (RLFs)

Reviving the Grocery Trade in America's Food Deserts
Forbes | Jun. 18 | Access to Capital | Community Development | Food Systems Finance | Revolving Loan Funds (RLFs)

Kennebunk, MA Considers Micro-Loans for Struggling Businesses
Fosters | Jun. 17 | Local Finance Program | COVID-19

SBA Reopens Economic Injury Disaster Loan Program
Washington Business Journal | Jun. 16 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | U.S. Small Business Administration (SBA) | COVID-19

$10M Committed to Appalachian Growth Capital for Low-Interest Loan Fund
The Herald-Dispatch | Jun. 14 | Access to Capital | Community Development | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Rural Development | Revolving Loan Funds (RLFs) | Community Development Financial Institutions (CDFIs) | COVID-19

Voters Approve $18M Bond Issue for Water, Sewer Projects in Moberly, MO
Moberly Monitor-Index | Jun. 10 | Access to Capital | Bond Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Urban Development | Water Finance | Revolving Loan Funds (RLFs) | Water Finance | Sewage & Waste | State Revolving Fund | Stormwater

EPA Announces $6.9M in Supplemental Funding for Brownfield RLFs
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

What They Are Saying: Trump Administration's Cleaning up Contaminated Sites Across the Country
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

EPA Announces $600K to City of Tulsa, OK DEQ
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

St. Louis County Receives $300K to Clean Up and Reuse Brownfield Sites
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

EPA Announces $600K to Clean Up Brownfield Sites in Kentucky
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

EPA Helping Convert Mercury Building Into 'Boutique Hotel'
EPA | Jun. 10 | Brownfield Financing | Revolving Loan Funds (RLFs)

Bill to Assist Rural Hospitals in Financial Distress Becomes Law in Kentucky
Kentucky Today | Jun. 9 | State Finance Program | Revolving Loan Funds (RLFs) | COVID-19


New Additions to the Online Resource Database

Cultivating Development: Trends and Opportunities at the Intersection of Food and Real Estate
Bond Finance | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs) | Tax Credits | Tax Increment Finance (TIF)
Cultivating Development explores the mutually beneficial relationship between food-based amenities—such as working farms, community gardens, food halls, restaurants, and grocery stores—and real estate. Developers, owners, property managers, designers, investors, and others involved in real estate decision making can learn from the research, case studies, and food and development practitioner insights described in this report, thereby allowing them to create places that both support and leverage investments in food.

Federal Financing Webinar Series - Federal Recovery Resources from the USDA
Access to Capital | Agriculture Finance | Community Development | Economic Development | Food Systems Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development
During this webinar, experts from multiple USDA offices will dive into how the department has tailored its many financing programs to assist with the recovery while noting what we can learn from the pandemic to better prepare rural America for tomorrow.


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

Archives

Displaying 1 - 30 of 62

October 12, 2021
September 14, 2021
August 10, 2021
July 13, 2021
June 8, 2021
May 11, 2021
April 13, 2021
March 9, 2021
February 9, 2021
January 12, 2021
December 8, 2020
November 10, 2020
October 13, 2020
September 8, 2020
August 11, 2020
July 14, 2020
June 9, 2020
May 12, 2020
April 14, 2020
March 10, 2020
February 11, 2020
January 14, 2020
December 10, 2019
November 12, 2019
October 8, 2019
September 10, 2019
August 13, 2019
July 9, 2019
June 11, 2019
May 14, 2019




CDFA National Sponsors

  • Baker Tilly
  • BNY Mellon
  • Bricker & Eckler LLP
  • Brownfield Superfund Advisory, Inc
  • 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
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor