The past two years have challenged our nation like no other time in our history. From the COVID-19 pandemic, elections, and economic distress to the social, racial, and equity challenges facing many communities, our nation is looking for answers. The CDFA Virtual National Summit will take on these challenges and explore ways development finance can once again rise to the occasion.

To boost minority participation in the industry, U.S. Bank and Enterprise Community Partners (ECP) in July announced a $30 million bond to provide loans to black, indigenous, and other housing developers of color. The bond was issued by ECP's CDFI Enterprise Community Loan Fund and is being touted as the first racial equity bond issued by a CDFI. U.S. Bank served as a structuring agent and advisor, and also agreed to buy the first $10 million of the bond.

The Iowa Energy Center board and the Iowa Economic Development Authority have opened applications for a new program that is intended to support energy infrastructure projects. The Energy Infrastructure Revolving Loan Program is available to help projects that facilitate gas generation, transmission, storage, or distribution.

Western & Southern Financial Group is poised to invest millions to tackle Cincinnati's affordable housing shortage, though the company hasn't decided yet whether it will develop housing for very low-income people or people who earn more. Some of the investment could come in the form of a revolving loan fund, or could help finance some of the Cincinnati Development Fund's existing projects.

The Petersburg City Council has outlined how it will spend the first $8.8 million of federal funding from the American Rescue Plan Act. It chose 12 projects from a range of areas, from neighborhood storm drainage to the long-delayed renovations. Included in this, the Economic Development Authority was approved for $2.3 million for a revolving loan fund.

The Vermont Farm Fund, a non-profit revolving loan fund for local farmers and food producers, has launched a new loan program for start-up farmers and food businesses. The VFF's New Producer Loan will provide access to no-hassle, friendly-term loans up to $20,000 at a low 3% interest rate. A true revolving loan fund, as the community of recipients pays back their loans, funds are replenished for the next cycle of borrowers.

Congressman Steven Horsford has announced that his office secured a $2,750,000 award for the Nevada Business Opportunity Fund. This funding will establish a Revolving Loan Fund to provide capital and technical assistance to underserved businesses throughout Clark County.

Appalachian Community Capital today announced receipt of a $1.5M grant from the Appalachian Regional Commission to help bring expanded investment into Central Appalachian communities in five states: Tennessee, North Carolina, Ohio, Virginia, and West Virginia. ACC is the lead partner in Opportunity Appalachia, an initiative designed to provide targeted support for downtown and rural development to build entrepreneurial communities where local businesses can thrive.

California's smallest businesses now have access to an additional $56.5 million through the California Rebuilding Fund, which offers flexible, low-cost loans to support long-term recovery from the COVID-19 pandemic. The California Rebuilding Fund is a public-private partnership that blends capital from private, philanthropic, and public sector organizations to support new lending administered by Community Development Financial Institutions.

CDFA // BNY Mellon Development Finance Webcast Series: Exploring Local Economy Preservation Funds
Tuesday, October 19, 2021 - 2:00 PM - 3:00 PM Eastern

SSBCI Learning Series - Module III
October 22, 2021 - 1:00 PM Eastern

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Many economic development organizations (EDOs) have embraced the mission to support entrepreneurial firms in their communities. EDOs engage in their entrepreneurial ecosystems, in part, by providing resources, sometimes in the form of business incentives. The purpose of this report is to provide practitioners and policymakers with insights regarding the use of these incentives and guidance for offering incentives to entrepreneurial firms.

Together, the U.S. Department of Health and Human Services Administration for Children and Families and the U.S. Department of Agriculture Rural Development mission area have developed this Joint Resource Guide to further our commitment to supporting rural families by expanding childcare facilities.

The RISE Miami-Dade Fund (RISE) grew from an idea proposed by a diverse coalition to an effective team delivering technical assistance, advice, and much-needed capital to Miami-Dade County's hard-to-reach small businesses. This report demonstrates the success of RISE, including the critical ingredients that powered it. In addition, the data collected through the application process offers a window into the long-term needs of Miami-Dade's small business community. Finally, the report offers a new structure for RISE going forward that can begin to address the gaps.

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