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.

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.

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.

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.

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.

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.

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."

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.

CDFA Federal Financing Webinar Series: U.S. Economic Development Administration (EDA)
October 18, 2018 - 2:00 PM Eastern

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