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CDFA Revolving Loan Fund Finance Update - November 14, 2023

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Revolving Loan Funds Update
November 14, 2023
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Revolving Loan Fund Finance Update

Features

Join CDFA for Our New Intro Federal Finance Course
Register for CDFA's Intro Federal Finance Course taking place on December 13-14 to learn the federal funding resources available to help advance economic development. Our panel of expert speakers will discuss how federal support tools can work in coordination with other development finance tools for programs and projects on the local level.

Nevada Offers Charter Schools Low-Interest Loans Through Fund
Opportunity 180, a Nevada nonprofit, and Equitable Facilities Fund, a philanthropy-backed impact fund, are joining with the state of Nevada in what the firms called a "first of its kind public-private partnership" to provide a dedicated facility funding resource for public charter schools looking to open or expand in Nevada.

CDFA Coalition Submits $2B Clean Investment Accelerator for DFAs Proposal Under Greenhouse Gas Reduction Fund Competition
CDFA and its coalition partners submitted a $2 billion Clean Investment Accelerator for Development Finance Agencies (DFAs) proposal for the Clean Communities Investment Accelerator competition under the Greenhouse Gas Reduction Fund. Under this program, CDFA and its coalition partners will launch a 6-year accelerator program designed to serve a community lender network of DFAs to build the expertise and financial capacity of DFAs to fund qualified projects that reduce or avoid emissions of greenhouse gas and other pollutants in low-income and disadvantaged communities.

Chenango County, NY Revolving Loan Fund Provides Critical Loans for Businesses
The Chenango County Planning & Development Department is helping businesses avoid financial burdens by offering a Revolving Loan Fund program with capitalization funds from the U.S. Department of Housing & Urban Development. Businesses that are in need of critical funding or looking to expand could qualify for up to $150,000 in loan funding at 75% of the prime interest rate.

Lake Francis, NH Development Corporation Receives USDA Grant for RLF Program
The Lake Francis Case Development Corporation has been granted a $54,000 revolving loan fund grant from the United States Department of Agriculture Rural Development. The funds will be used to help address community needs like housing and child care, as well as business retention, expansion, and development. The Rural Development RLF program will target businesses with fewer than 50 new workers and less than a million dollars in gross revenue.

Bipartisan Infrastructure Law Helps Communities Prepare for Their Climate Futures
In the two years since the Bipartisan Infrastructure Law, became law, communities of all sizes have been using these funds to address longstanding environmental problems, invest in infrastructure, and prepare for emergent climate challenges. Below are examples of how communities have taken advantage of these funds to create and expand programs that remediate environmental hazards, reduce waste, and prepare for the intensifying impacts of climate change.

New York Provides $109M for Local Water Infrastructure Projects
New York announced the approval of $108.8 million in financial assistance for water infrastructure improvement projects across the state. The approval authorizes municipal access to over $88.9 million in low-cost short-term financing and previously announced grants to get shovels in the ground for critical water and sewer infrastructure projects and financings through the Clean Water State Revolving Fund and Drinking Water State Revolving Fund.

Federal Government Gives Omaha, NE $20M for Affordable Housing Loans to Developers
The City of Omaha will use $20 million in recently awarded federal grant money to make loans to real estate developers to build affordable housing. Omaha will create a loan pool from which for-profit and nonprofit developers can borrow money at low interest rates.The money is meant for housing that is affordable to people with low to moderate incomes.

Upcoming Events
Intro Federal Finance Course

CDFA // BNY Mellon Development Finance Webcast Series: The Latest in Cannabis Finance
November 21, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, speakers will review the latest regulations affecting cannabis financing and the creative financing approaches providing capital to this emerging industry.

CDFA Food Systems Finance Webinar Series: Restoring Local Food Systems Through Finance
November 28, 2023 - 2:00 PM - 3:30 PM Eastern
In this installment of the CDFA Food Systems Finance Webinar Series, we will illustrate the Reframe, Build, Plan framework of critical success factors that are needed to expand financing and drive capital into local food systems.

Headlines

By Making Microloans to Small Businesses, Newboco's Kiva Iowa Changes Lives
The Gazette | Nov. 13 | Access to Capital | Revolving Loan Funds (RLFs)

Berthold, ND Awarded State Loans for Water and Sewer Projects
Minot Daily News | Nov. 13 | Revolving Loan Funds (RLFs) | Water Finance

Springfield, VT Area Revolving Loan Fund Helps Business in Region
VermontBiz | Nov. 10 | Economic Development | Revolving Loan Funds (RLFs)

Great Falls, MT Approves $1.2M in Federal Funds for Apartment Project
The Electric | Nov. 9 | Federal | Housing Finance | Revolving Loan Funds (RLFs)

Beachwood, OH Institutes a Revolving Loan Fund to Help Its Businesses Grow
Cleveland.com | Nov. 8 | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs)

Cumberland, MD Discusses Small Business Loan Program
Yahoo!News | Nov. 8 | Economic Development | Revolving Loan Funds (RLFs)

City of Janesville, WI Offers Lower Rates for the Downtown Revolving Loan Program
City of Janesville | Nov. 3 | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs)

Chicago, IL Receives $336M WIFIA Loan to Replace Lead Pipes
U.S. Environmental Protection Agency | Nov. 3 | Development Finance Toolbox | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance | EPA Revolving Loan Fund Grants | WIFIA | Water Infrastructure Finance and Innovation Act (WIFIA)

Ishpeming, MI $20M Water Infrastructure Project Moving Forward
The Mining Journal | Oct. 27 | Infrastructure Finance | Revolving Loan Funds (RLFs) | State Finance Program | Water Finance | Revolving Loan Funds (RLFs) | Water Finance | State Revolving Fund

Ft. Lauderdale, FL Receives $120M WIFIA Loan for Climate Resilience
U.S. Environmental Protection Agency | Oct. 27 | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance | WIFIA | Water Infrastructure Finance and Innovation Act (WIFIA)

Susquehanna Valley, PA to Benefit from $1M from Brownfield Revolving Loan Fund
The Daily Item | Oct. 21 | Brownfield Financing | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Local Brownfield Programs | Transportation | EPA Revolving Loan Fund Grants

Smaller Operating Loans Slow Farm Lending Activity
Federal Reserve Bank of Kansas City | Oct. 19 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs)

Rutland City, VT Mayor Announces New Loans to Rehab Rental Housing
Mountain Times | Oct. 18 | Federal | Housing Finance | Revolving Loan Funds (RLFs)

Chattanooga, TN Receives $20M from Clean Water State Revolving Loan Fund
News Channel 9 ABC | Oct. 16 | Infrastructure Finance | Revolving Loan Funds (RLFs) | State Finance Program | Water Finance | Water Finance

Fort Collins Launches Revolving Loan Fund for Small Business
BizWest | Oct. 16 | Economic Development | Revolving Loan Funds (RLFs)


New Additions to the Online Resource Database

2023 Small Business Capital: A Place-Based Approach
Access to Capital | Economic Development | Federal | Revolving Loan Funds (RLFs)
Accelerator for America and the International Economic Development Council present the first segment in a two-part series exploring the needs and opportunities to drive more equitable entrepreneurship and small business growth in communities across the U.S. This first piece addresses equitable capital access, and the second will delve into the other critical elements of the entrepreneurial and small business ecosystem that are necessary to foster inclusive growth.


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

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
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  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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