The CDFA EC-Tech (Equitable Capital Technology) Initiative is a comprehensive solution for development finance agencies working to implement stronger lending for minority business owners, pairing the adoption of an online lending platform with direct technical assistance. This informal event is an opportunity for organizations interested in joining the initiative to see a demonstration of the end-to-end lending platform and hear more about participating.

U.S. Secretary of Commerce Gina M. Raimondo announced that the Department's Economic Development Administration (EDA) is awarding a $1.6 million grant to the Maryland Department of Commerce, Baltimore, Maryland, to capitalize and administer a revolving loan fund that will serve small businesses throughout Maryland. This grant is funded by the American Rescue Plan.

Bipartisan legislation to help cities get money to fix their water systems has been signed by Michigan Governor Gretchen Whitmer. Federal money for water infrastructure is going into the State Revolving Loan Fund, and the new laws make it easier to apply for these funds.

Credit unions designated as Community Development Financial Institutions (CDFIs) have until August 23 to apply for grants under the CDFI Fund's Equitable Recovery Program. The CDFI Fund is making $1.73 billion available to help eligible financial institutions expand lending, provide grants, and make investments in low-to-moderate-income communities, including minority communities, that need better access to financial services and were disproportionately affected by the pandemic.

CDFA Virtual Summer School is offering three different training courses, all held online during August 1-4. Learn from expert practitioners and experience CDFA's most interactive educational event of the year! These courses also qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program and scholarships are available.

Polk County will invest more than $15 million in affordable housing projects. The funding is part of $95 million the county received from American Rescue Plan Act funds. The county's decision comes as supervisors and staff develop a process to determine how to ensure ARPA funds are used to the maximum benefit of the community.

A loan fund was recently announced with a goal of helping Detroit's early stage minority developers gain access to capital and assistance. The initial $11 million fund, known as Ebiara, was launched through a partnership between nonprofit Invest Detroit and consulting firm URGE Imprint, with funding provided by The Kresge Foundation.

Governor Phil Scott signed into law a comprehensive package of workforce and economic development initiatives first proposed by the Scott Administration and passed by the Legislature this session. The bill invests $84.5 million of both state and federal American Rescue Plan Act (ARPA) funding to address Vermont's workforce shortage and provide local businesses and municipalities with resources to grow in the years ahead.

CDFA // BNY Mellon Development Finance Webcast Series: Development Finance and the Cannabis Industry
Tuesday, July 19, 2022 - 2:00 PM - 3:00 PM Eastern

SSBCI Learning Series - Aligning your SSBCI Strategy with Federal Funding Priorities
July 29, 2022 - 1:00 PM Eastern

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U.S. Department of Agriculture (USDA) Rural Development and U.S. Economic Development Administration (EDA) launched a joint resource guide to help community organizations access USDA and EDA resources to build strategies to boost economic development in rural America. The guide outlines programs and services that can be used to advance community and economic development in rural communities through four key focus areas and features information and links to USDA and EDA key priorities and resources.

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