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Revolving Loan Funds Update
October 9, 2018
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Revolving Loan Fund Finance Update

Features

How to Capitalize a Revolving Loan Fund?
Revolving Loan Funds (RLFs) are a key tool for supporting local small business development, but how are they capitalized? Some RLFs are funded completely with local public money, others seek private investments, and still others may seek state or federal grants. Join CDFA in Dallas, Texas for the 2018 National Development Finance Summit as we discuss various capitalization stories.

First Loans Dispersed Through Local Microloan Program in MO
When the Arlee factory was sold, TDIO used a portion of the proceeds to fund a Revolving Loan Fund. The money paid back goes into a fund to be loaned out again. Ozark Small Business Incubator (OzSBI) manages this fund, as well as other microloan programs. They also provide business mentoring support for businesses funded.

WI State Officials Unveil $2M Disaster Recovery Microloan Program
In order to help small businesses, the Wisconsin Economic Development Corporation unveiled a $2 million Disaster Recovery Microloan Program. The program will provide an immediate source of funds for necessary restoration work and related expenses.

Part of Greenville, SC $6M Surplus Will Support Affordable Housing RLF
A total of $1.4 million dedicated for affordable housing would go toward the Housing Trust Fund, which was set up last year by the city to offer public tax money leveraged with private money to support the preservation of homes for low-income households.

AK Governor Signs Bill to Increase Fishing RLF Loan Limits
House Bill 56, primarily sponsored by Rep. Dan Ortiz, I-Ketchikan, rewrites sections of the state's Commercial Fisheries Revolving Loan Program to change the cap on allowable amounts of certain types of loans. Fishermen who want to buy individual fishing quotas, or IFQ, limited entry permits or gear can now borrow up to $400,000, an increase from $300,000.

U.S. House Passes Water Resources Development Act
On September 13, the U.S. House of Representatives passed S. 2800, the Water Resources Development Act. The bill reauthorizes WIFIA, the Drinking Water State Revolving Fund, the Clean Water Act, and authorizes $6.1 billion for Army Corps of Engineers studies.

First Rehabilitated Broadway Row House Hits Market in Louisville, KY
The sale of all five houses is expected to clear its construction loan debt. Additional money from the home sales will go into the Vital Sites Revolving Loan Fund for future projects. Vital Sites is working with Louisville Metro Government on a couple of other potential projects that will have the "opportunity to have an impact on a neighborhood scale."

Proposal Would Set Aside Funding for Racine, WI Microenterprises
A Microenterprise Revolving Loan Fund, seeded with a grant from the U.S. Department of Housing and Urban Development, would provide low-interest loans of up to $15,000 for early-stage, owner-operated firms in the city that are between six months and three years old. Racine plans to distribute $62,700 from the fund in the 2018 fiscal year.

Upcoming Events
CDFA National Development Finance Summit

CDFA Federal Financing Webinar Series: U.S. Economic Development Administration (EDA)
October 18, 2018 - 2:00 PM Eastern
In this webinar, CDFA will convene experts on the EDA, as well as current and past recipients of EDA programming, to discuss the agency's offering of programs and initiatives. Notable programs that CDFA will highlight includes the Revolving Loan Fund Program, the Public Works Program, and the Planning Program.

Headlines

Auburn, AL Uses RLF to Support Food Bank
Opelika Auburn News | Oct. 4 | Food Systems Finance | Revolving Loan Funds (RLFs)

RLF Could Support Ice Cream Shop in Celina, OH
The Daily Standard | Oct. 4 | Access to Capital | Revolving Loan Funds (RLFs)

WI Public Service Commission Awards $5M in Energy Innovation Grants
Daily Energy Insider | Oct. 2 | Energy Finance | Revolving Loan Funds (RLFs)

RLF Provides Capital for Volunteer Fire Department to Acquire New Trucks
The Caswell Messenger | Sep. 26 | Revolving Loan Funds (RLFs)

WA Grants $3M From Clean Energy Fund to Nonprofit Lenders
KXLY | Sep. 12 | 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
info@cdfa.net


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CDFA National Sponsors

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  • SB Friedman Development Advisors
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  • Stifel Nicolaus
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  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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