About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

CDFA COVID-19 Recovery & Relief Update - March 31, 2020

Having trouble viewing this newsletter? View it online.
COVID-19 Recovery & Relief Update
March 31, 2020
Subscribe
View Archives
COVID-19 Recovery & Relief Update

Spotlight

Subscribe Now to CDFA's New COVID-19 Recovery & Relief Update Newsletter!
CDFA is launching a weekly newsletter covering how development finance is addressing disaster relief and recovery with a special focus on the COVID-19 pandemic. Subscribe now to this free offering from CDFA to keep receiving this content in the future!

Listen: COVID-19 Weekly Development Finance Briefing - March 27 (Free Recording)
On the March 27, 2020 Weekly COVID-19 Development Finance Briefing, we discussed how Development Finance Agencies have initially responded to COVID-19, examined Congressional legislation, analyzed how federal agencies are reacting, and looked at a few exemplary state and local financing programs.

CDFA's COVID-19 Comprehensive Recovery Strategy
Based on the input of our 500+ members, CDFA has developed a set of policy proposals that would allow state and local governments, through development finance agencies, to be immediate problem solvers that can help alleviate the extreme economic challenges facing small businesses and communities to put America securely on the path to recovery.

Features

Summary of the CARES Act
This is a summary of the Coronavirus Aid, Relief, and Economic Security (CARES) Act from the Congressional Research Service. This is the third in a series of legislative packages addressing the COVID-19 pandemic.

$2 Trillion Emergency Relief Includes Muni Market Provisions
A Coronavirus Relief fund of $150 billion would be shared among state, local and tribal governments while the Federal Reserve would be authorized to purchase all types of municipal bonds under the $2 trillion package.

Frequently Asked Questions for SBA's Economic Injury Disaster Loan Program
This document contains Frequently Asked Questions for the SBA's Economic Injury Disaster Loans (EIDL) Program, a low-interest federal loan issued by the SBA to alleviate economic injury small businesses or private non-profits are experiencing injury and injury caused by COVID-19.

Tax Filing Delays Will Hit Near-Term Liquidity for State Govts
Extension of tax filing deadlines and reduced economic activity brought on by the coronavirus pandemic will pressure states' short-term liquidity, although Fitch Ratings says most, and potentially all, states will absorb the deterioration without materially affecting credit quality.

Highlights of CARES Act for Tribal Nations
The National Congress of American Indians (NCAI), tribal nations, partner organizations, and tribal advocates worked tirelessly to develop Indian Country's top policy priorities for addressing COVID-19. The final stimulus legislation features strong provisions in support of these priorities and will help tribal communities across Indian Country as they respond to the pandemic.

Key COVID-19 Response Strategies for Development Finance Agencies
Development finance has always been at the forefront of recovering from natural disasters and economic challenges. The emergence of the COVID-19 crisis requires a unique and targeted response by the federal government, state and local development finance agencies (DFAs), private banks, and philanthropy. The following set of strategies and recommendations is designed to help DFAs evaluate their portfolios and determine whether modifications are needed for their bonds, tax increment finance, and revolving loan fund programs.

Dealers Face Compliance Challenges in Coronavirus-Impacted Market
Nearly unprecedented price volatility in the past two weeks has caused a compliance challenge for broker-dealer firms as they try to keep pace with the market. Benchmark yields swung between 50 to 60 to 75 basis points in either direction over the course of two weeks, first correcting higher and then falling sharply this week.

Senate Passes Phase III of the Federal Coronavirus Relief Legislation
Following days of often tense negotiations, the United States Senate has passed the third phase of federal coronavirus relief legislation, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), which will provide $2 trillion in economic aid to individuals and businesses impacted by the coronavirus public health emergency.

How Can We Alleviate Economic Insecurity During The Pandemic?
Host Justin Milner speaks with Urban's Donald Marron and the Tax Policy Center's Howard Gleckman about the pandemic's economic impact and powerful economic solutions we can use to respond.

What The $2T Stimulus Package Means For The Food System
A number of stimulus provisions are aimed at helping producers and workers throughout the food supply chain, from agricultural producers to restaurant workers, but small and independent restaurant owners say they've been left out of the stimulus package altogether.

Fed Announces Unlimited Bond Purchases in Unprecedented Move to Prevent a Depression
The Federal Reserve launched an unprecedented effort to keep money flowing to companies, households and cities by buying unlimited amounts of U.S. Treasurys and mortgage-backed securities, an extraordinary backstop for lending markets that goes much further than what the central bank did in the 2008-2009 crisis.

USDA Implements Measures to Help Affected Rural Residents, Businesses, Communities
USDA Rural Development has taken a number of immediate actions to help rural residents, businesses and communities affected by the COVID-19 outbreak. Rural Development will keep its customers, partners, and stakeholders continuously updated as more actions are taken.

COVID-19: Impact on Financial Markets and Opportunity Zones
Craig Bernstein, principal of OPZ Capital, which launched the OPZ Capital Opportunity Zone Fund in 2018, is the guest on this episode of Opportunity Zones podcast. He discusses opportunity zones and what the pandemic means for their future, as well as the overall economic shift the virus has caused at it spreads across the United States. Find the episode and a transcript here.

Upcoming Events
Weekly Development Finance COVID-19 Briefing

CDFA Food Systems Finance Webinar Series: Disaster Recovery for the Food System
Thursday, April 16, 2020 - 2:00 PM Eastern
During the first installment of the CDFA Food Systems Finance Webinar Series, we will explore creative financing efforts being launched to support our local food economies during this time of unprecedented crisis.

State & Local Programs

Washington Department of Commerce Announces $1.8M to Rural Counties for COVID-19 Response
Washington State Department of Commerce | Mar. 26 | Access to Capital | Disaster Recovery & Relief | Member News | Rural Development | State Finance Program | COVID-19

New Jersey Economic Development Authority Announces New Initiatives to Support Businesses Impacted by COVID-19
NJEDA | Mar. 26 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Member News | Revolving Loan Funds (RLFs) | COVID-19

Washington, DC Launches Small Business Recovery Microgrants
Government of the District of Columbia | Mar. 26 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | COVID-19

Long Beach, CA Offering Several Loan Programs to Small Businesses
City of Long Beach | Mar. 26 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | COVID-19

Oakland, CA to Provide Businesses with Tax Help and Technical Assistance
City of Oakland | Mar. 26 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | COVID-19

North Carolina COVID-19 Rapid Recovery for Small Businesses
NC Rapid Recovery | Mar. 25 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | State Finance Program | COVID-19

Detroit, MI Small Business Stabilization Fund
TechTown | Mar. 25 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | COVID-19

Salt Lake City, UT Launches Emergency Loan Program
Salt Lake City | Mar. 25 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | COVID-19

Federal Financing Programs

Agency Seal U.S. Small Business Administration (SBA)

Economic Injury Disaster Loan
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury...

Paycheck Protection Program
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by directing $349 billion towards job retention and business operating expenses.

Agency Seal Export-Import Bank of the United States (EXIM Bank)

Working Capital Loan Guarantee Program
Working Capital Loan Guarantees can empower exporters to unlock cash flow and take on new business abroad. Exporters can borrow more with the same collateral, secure performance, bid bonds needed to...

Highlights from the Online Resource Database

COVID-19 Emergency Loans & Small Business Checklist - U.S. Chamber of Commerce
Access to Capital | Community Development | Disaster Recovery & Relief
The U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals prepare to file for a loan.

Coronavirus Discussion Guide for Local Governments
Community Development | Disaster Recovery & Relief | Organizational Management
Local government managers should prepare their communities by reviewing their emergency response plans for pandemic events. Begin by discussing these prompts with your leadership team and partner organizations and pair this discussion guide with frequently updated information noted in the Key Resources section.


The Council of Development Finance Agencies 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 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

Archives

Displaying 1 - 30 of 51

September 21, 2021
August 24, 2021
July 27, 2021
June 22, 2021
June 8, 2021
May 25, 2021
May 11, 2021
April 27, 2021
April 13, 2021
March 30, 2021
March 16, 2021
March 2, 2021
February 16, 2021
February 2, 2021
January 19, 2021
January 5, 2021
December 22, 2020
December 8, 2020
December 1, 2020
November 24, 2020
November 17, 2020
November 10, 2020
November 3, 2020
October 27, 2020
October 20, 2020
October 13, 2020
October 6, 2020
September 29, 2020
September 22, 2020
September 15, 2020




CDFA National Sponsors

  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • 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
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor