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CDFA Revolving Loan Fund Finance Update - June 8, 2021

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Revolving Loan Funds Update
June 8, 2021
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Revolving Loan Fund Finance Update

Features

Expand Your Skills at CDFA's Advanced Revolving Loan Fund Course
The Advanced Revolving Loan Fund Course builds on CDFA's Intro RLF Course with in-depth instruction on loan underwriting and portfolio management. Topics discussed during this course include analyzing borrower documents, performing financial analysis, balancing portfolio risk, and making loan decisions based on the mission and lending criteria of your RLF.

USDA Expands Access to Capital for Very Small Rural Businesses
The U.S. Department of Agriculture (USDA) announced that it has implemented a series of actions to make it easier for very small rural businesses to get access to capital. A final rule was published outlining changes to the Rural Microentrepreneur Assistance Program. The program provides loans and grants to microenterprise development organizations to help them establish revolving loan programs to assist microenterprises with 10 or fewer full-time employees.

El Paso County, TX Relaunches Business Loan Fund for Small Businesses and Startups
El Paso County continues its commitment to startups and local small businesses with a relaunch of a Business Loan Fund program. This fund will provide loans to private, for-profit small businesses and startups in El Paso County, who otherwise may not be able to access financing through conventional lenders. Borrowers will have access to loan funding, and wrap-around support services such as education, consulting and/or mentorship, and technical assistance services.

Gov. Wolf Announces New Funding for Minority-Owned Businesses in Erie, PA
Governor Tom Wolf announced the approval of new funding for the Enterprise Development Fund of Erie County, Inc. through the Department of Community and Economic Development's Pennsylvania Minority Business Development Authority that will help support local business growth and job creation. The organization encourages industrial development and job creation in the region through grant procurement used to make low interest loans to businesses.

Oakland County, MI Receiving $3M from Federal Government to Further Support Business Pandemic Recovery
Oakland County will receive $3 million from the U.S. Economic Development Administration to use as loans to support small businesses still recovering from the COVID-19 pandemic. The county's economic development department, in collaboration with the Great Lakes Women's Business Council and its CEED Lending program, applied for the CARES Act Recovery Assistance Grant funding. The federal dollars will be dropped into the county's revolving loan fund.

Clayton County, GA Water Authority Awarded $60M in Low-Interest Loans
The Clayton County Water Authority has been awarded a $50 million Clean Water State Revolving Fund (CWSRF) loan and a $10 million CWSRF loan by the Georgia Environmental Finance Authority (GEFA) board of directors to finance upgrading the biosolids management at the W.B. Casey Water Reclamation Facility and rehabilitating the county's stormwater system.

Modesto, CA Has $23M to Address Effects of Pandemic. Who Will Be Helped in the City Plan?
Modesto officials are proposing to spend the millions the city is receiving from the American Rescue Plan on helping its downtown, neighborhoods, and others in the community as well as trying to meet some of its own needs. The proposed spending plan includes more than $2 million for downtown for such efforts as beautification, expanded Wi-Fi service, and a revolving loan fund to attract development.

Wichita, KS Launches PROPEL Revolving Loan Program
The City of Wichita has created a low-interest, short-term revolving loan program called PROPEL - Providing Resources & Opportunities for Proprietors, Entrepreneurs & Lenders - to direct micro-loans to women and minority-owned businesses. Partners in developing this fund included the South Central Kansas Economic Development district, the Federal Reserve Bank of Kansas, and CML Collective, a minority-owned firm with experience creating and managing microloan programs.

Upcoming Events
CDFA Virtual Summer School

CDFA // BNY Mellon Development Finance Webcast Series: Rural Broadband & Telehealth Financing
Tuesday, June 15, 2021 - 2:00 PM - 3:00 PM Eastern
During this webinar, experts will explain how rural communities can embrace the challenges of financing high-speed internet for the economic and societal gains provided by broadband.

Intro Revolving Loan Fund WebCourse
June 23-24, 2021 - Daily: 12:00 - 5:00 PM Eastern
The Intro Revolving Loan Fund Course offers an in-depth look at RLF program development, implementation, and management. This course demonstrates how an RLF program can complement your economic development strategy, encourage investment, and assist traditionally underserved businesses. During this course, attendees learn the essential elements needed to operate a successful RLF program and discuss programs making a difference in communities throughout the country.

Headlines

USDA Seeks Applicants to Improve Water and Wastewater Infrastructure in Rural Areas
Water World | Jun. 4 | Access to Capital | Federal | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | U.S. Dept. of Agriculture (USDA)

Wyoming Smart Capital Network Helping Local Businesses with $5.1M from EDA
Wyoming News Now | Jun. 4 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | State Finance Program | Revolving Loan Funds (RLFs) | COVID-19

Colorado Senate Passes Five Stimulus Bills
Fox Denver | Jun. 3 | Agriculture Finance | Disaster Recovery & Relief | Education | Food Systems Finance | Healthcare | Revolving Loan Funds (RLFs) | COVID-19

The Impact of COVID-19 on Ag Lending
ABA Banking Journal | Jun. 2 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA) | COVID-19

Santa Monica, CA Considers Revenue Bonds to Close Funding Gap for Water Self-Sufficiency Projects
Santa Monica Daily Press | May. 26 | Bond Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | Water Finance | WIFIA

Vermont Farm Fund Lends Over $2M Statewide
VT Digger | May. 23 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Resiliency | Revolving Loan Funds (RLFs)

Banks Fight $4B Debt Relief Plan for Black Farmers
The New York Times | May. 21 | Access to Capital | Agriculture Finance | Federal | Revolving Loan Funds (RLFs) | Social Finance | U.S. Dept. of Agriculture (USDA)

Berkshire Agriculture Group Announces Funding Milestone for Local Farmers, Food Producers
News 10 | May. 19 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs)

$2.6M Federal Grant Supports Hudson Valley Agriculture Loans
Daily Freedman | May. 15 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Federal | Food Systems Finance | Revolving Loan Funds (RLFs) | U.S. Economic Development Administration (EDA) | Revolving Loan Funds (RLFs) | COVID-19

CARES Act Funds to Capitalize Revolving Loan Fund in Wyoming
Jackson Hole Public Radio | May. 14 | Access to Capital | Disaster Recovery & Relief | Federal | Revolving Loan Funds (RLFs) | Rural Development | U.S. Economic Development Administration (EDA) | COVID-19

Nebraska City, NE Breaks Ground on Flood Recovery Houses
News Channel Nebraska | May. 14 | Access to Capital | Disaster Recovery & Relief | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development

Greystone Affordable Development Transforming Indiana Affordable Housing
Globe Newswire | May. 13 | Bond Finance | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development | Tax Credits | U.S. Dept. of Agriculture (USDA)

Revolving COVID Loan Fund Remains Available to Businesses in New York Capital Region
The Daily Gazette | May. 12 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs) | COVID-19

EPA Announces $900K Brownfields Grants for Spanish Fork and Salt Lake County, UT
Utah Policy | May. 12 | Access to Capital | Brownfield Financing | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | EPA Assessment Grants

Four New Jersey Projects to Receive $1.9M for Brownfields Cleanup and Assessment
Insider NJ | May. 11 | Brownfield Financing | Federal | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)



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

  • Baker Tilly
  • BNY Mellon
  • Bricker & Eckler LLP
  • Brownfield Superfund Advisory, Inc
  • Bryan Cave Leighton Paisner LLP
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  • KeyBanc Capital Markets
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  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
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  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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