The CDFA is excited to announce the 2023 CDFA Equitable Lending Learning Series, created in partnership with Lendistry and The Center by Lendistry. The CDFA Equitable Lending Learning Series will provide in-depth instruction to small business lenders on loan fund policies, lending processes, and other practices that remove barriers to capital and proactively advance economic justice.

The Rural Business-Cooperative Service (RBCS), a Rural Development agency of the USDA, invites applications for grants under the Rural Cooperative Development Grant (RCDG) program for Fiscal Year (FY) 2023. This notice is being issued to allow applicants sufficient time to leverage financing, prepare and submit applications, and give RBCS time to process applications within FY 2023. Funding of $5.8 million will be available for FY 2023.

With support from a third round of funding from the W.K. Kellogg Foundation, CDFA is continuing to advocate for Defining the Food System Asset Class by building on previous efforts to increase opportunities and leverage existing capital to support local and regional food systems. There is a significant opportunity for further investment in this space through formalized technical assistance, facilitated collaboration between food system practitioners and development finance agencies, and direct and indirect lending programs for food- and agriculture-related businesses and projects.

A proposal to establish Minnesota's first "green bank" would make it easier and less expensive to finance climate and clean energy projects in the state. The Minnesota Climate Innovation Finance Authority would receive $45 million in one-time state money to create a self-sustaining lending institution that would be able to offer businesses and homeowners longer terms and lower interest rates than are currently available for projects.

Join us on May 9 from 2:00 PM - 3:30 PM ET for our session on Promoting Access to Capital For Tribal Small Businesses. During this session of the CDFA Tribal Financing Webinar Series, development finance experts will highlight a variety of finance programs that are helping to increase access to capital for new and existing small business owners.

Michigan's economic development board approved a nearly $615 million transformational brownfield plan for the $1.5 billion District Detroit development by Olympia Development and The Related Cos.

Colorado Governor Jared Polis and the Cannabis Business Office (CBO) have launched the Cannabis Business Loan Program for social equity licensed cannabis businesses in the Centennial State. The CBO had teamed up with lender NuProject to finance marijuana companies, which are not allowed to loan from traditional lenders. The initial $1 million investment is expected to lend $2.9 million over the next 10 years, creating and retaining important jobs in the state.

The new project, expected to provide 195 units upon completion in 2025, was emblematic of the level of investment affordable housing developments need. Ovation used funding from the 2021 American Rescue Plan, Clark County, and private sources including the Federal Home Loan Bank of San Francisco.

All four bills from the economic incentive package dubbed the "Game Plan" have passed both chambers of the legislature and have been signed into law by Governor Kay Ivey. The bills would renew existing economic incentives from the Jobs Act while offering new opportunities to improve site development, support to small businesses, and transparency in the incentive process.

The City of Cleveland, through its Department of Economic Development, is soliciting proposals from qualified organizations and teams for the creation and implementation of a Minority Business Credit Enhancement Fund. Send electronic copies to Isabel Espinal at iespinal@clevelandohio.gov

>>> SEARCH HEADLINES