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.
|