CDFA Revolving Loan Fund Finance Update - February 12, 2019
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Features |
New Small Grand Rapids, MI Fund Puts Racial Equity Front and Center
Part of the loan fund's early start-up capital comes from the Grand Rapids Community Foundation, which provided a $100,000 grant as well as a $200,000 low-interest loan to help get the fund going. While currently focused on Michigan, Rende Progress Capital plans on expanding its operations to the District of Columbia and Virginia.
Seed Money Kick Starts New RLF in SC
In January, the Sand Dollar Funds received an initial donation of $5,000 in seed money to create a revolving loan fund for the Moore County-based community development organization. In addition, the local nonprofit has formed a new partnership with Piedmont Business Capital to help new or expanding businesses in economically distressed areas of the Sandhills have a better shot at success.
Widespread Support for NH Affordable Housing Fund
NH Sen. Jeb Bradley, R-Wolfeboro, called it a "big ask." But it turns out that Senate Bill 15 wasn't a hard sell at all. His bill calls for allocating $10 million up front and, starting in October, $5 million a year from the real estate transfer tax, to go to a dedicated fund to support affordable housing projects.
What Will Be the Legacy of the Legacy Fund?
North Dakota voters decided in 2010 to set aside 30 percent of state oil and gas tax revenues for the Legacy Fund. The trust fund was inaccessible until 2017, but now – and every two years into the future – the Legislature can use the fund's earnings with a simple majority vote.
$40K No-Interest RLF Loan Supports TwispWorks
The $40,000 no-interest loan is designed to incubate businesses in the Methow Valley. It will help fund renovations to 1,650 square feet of interior space in the "West Shed" area of TwispWorks, 502 S. Glover St. The area now serves as outdoor equipment and vehicle storage bays.
Brooklyn, NY Clinic Project Supported by RLF, NMTCs
The 25,000-square-foot clinic is the first project to receive funding—$2.5 million—from the state Community Health Care Revolving Capital Fund. The $19.5 million fund was created last year through a public-private partnership between the state and Primary Care Development Corp.
New RLF Will Help Conneaut, OH Small Businesses
The Conneaut Foundation and the 503 Corporation established a Revolving Loan Fund (RLF), which will provide capital to start up and existing businesses looking to get started or expand their operations. Loan funds can be used for real estate acquisition, working capital and machinery and equipment.
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Upcoming Events |
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Headlines |
$4.3M Loan to Improve Water System in GA
WTOC | Feb. 5 | Revolving Loan Funds (RLFs) | Water Finance
Santa Clarita, CA Gets $87M Water Treatment Plant
SCV News | Feb. 1 | Revolving Loan Funds (RLFs) | Water Finance
IA Receives $64M in Water Quality Loans
Bell Times Courier | Jan. 25 | Revolving Loan Funds (RLFs) | Water Finance
RLF Among Incentives Proposed to Galesburg, IL Council
WGIL | Jan. 15 | Incentives | Revolving Loan Funds (RLFs)
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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
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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