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CDFA Revolving Loan Fund Finance Update - December 12, 2023

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Revolving Loan Funds Update
December 12, 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.

Sullivan County, NY IDA to Take Over Administration of Revolving Loan Fund
Sullivan County, New York legislators have agreed to transfer the administration of revolving loan funds from the Sullivan County Planning and Community Development Division to the Sullivan County Industrial Development. The goal of transferring administration of this program to the IDA is to increase accessibility of funding to more people and create a one-stop-shop at the IDA for both loans and grants.

Arizona IDA Preps $230M Social Bond for Equitable School Revolving Fund
The Arizona Industrial Development Authority as conduit issuer is offering a $230 million social bond to support a variety of high-performing public charter schools across the United States. The senior manager is slated to price the Series 2023A senior National Charter School revolving loan fund social revenue bonds for the Equitable School Revolving Fund LLC.

Watertown, WI Redevelopment Authority Revolving Loan Program Supports Small Business
Initiated in December 2017, the Watertown Redevelopment Authority Revolving Loan Fund program has, to date, provided almost $1.2 million in loans and grants to 15 downtown businesses. The Watertown RDA was established to develop urban renewal projects, encourage private/public reinvestment in under-utilized areas resulting in: new infill housing and commercial developments, job creation, expanded tax base, improved quality of life for the citizens of Watertown.

New Program Supports Economic Development in Hardin County, OH
The Hardin County Commissioners have passed a resolution to create the Hardin County Local Revolving Loan Fund as part of an effort to support economic development in Hardin County. The program, created in partnership with the Hardin County Chamber and Business Alliance, is designed to provide gap funding, in the form of low-interest loans, to those looking to establish or expand a business enterprise in Hardin County.

Veterans in Queens, NY Get Legislative Support
Governor Hochul recently signed veteran-friendly legislation spearheaded by state Senator Joe Addabbo Jr. The bill requires the state's Small Business Revolving Loan Fund to target and market to veteran-owned enterprises and service disabled veteran-owned enterprises, ensuring their access to vital financial resources.

CEED Lending Helps Underserved Small Businesses with Oakland County, MI RLF
CEED Lending, a division of the Great Lakes Women's Business Council, wants to help small businesses grow. CEED has $4 million available to make loans ranging from $50,000 to $200,000 to for-profit, small businesses in Oakland County that have been affected by COVID-19. The Oakland County Revolving Loan Fund can help historically underserved small businesses reach their financial goals.

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.

Upcoming Events
Intro Federal Finance WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: Financing Childcare Facilities with Bonds
December 19, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, experts will discuss challenges faced in financing childcare facilities and share examples of how bond financing can be used to support such businesses.

Intro Revolving Loan Fund WebCourse
May 13-14, 2024 - Daily: 12:00 PM - 5:00 PM Eastern
The Intro Revolving Loan Fund Course offers an in-depth look at RLF program development, implementation, and management. During this course, attendees learn the essential elements needed to operate a successful RLF program and discuss programs making a difference in communities throughout the country.

Headlines

VHFA Receives $7.5M in Funding for Revolving Loans to Housing Developers
Vermont Biz | Dec. 11 | Community Development | Housing Finance | Revolving Loan Funds (RLFs)

EDA Investments Show a Continued Commitment to Regionally Focused Economic Growth
U.S. Economic Development Administration | Dec. 8 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs)

Adrian, MI to Use City Revolving Loan Fund to Assist Homeowners
The Daily Telegram | Dec. 6 | Community Development | Housing Finance | Revolving Loan Funds (RLFs)

Weirton, WV Demolitions to Provide New Opportunities with the City's Revolving Loan Fund
The Weirton Daily Times | Dec. 5 | Community Development | Economic Development | Revolving Loan Funds (RLFs)

SquareOne's Revolving Loan Fund Provides a Path to Home Ownership in Eugene, OR
The Register-Guard | Dec. 4 | Access to Capital | Housing Finance | Revolving Loan Funds (RLFs) | Urban Development

Work Begins on Phase One of $430M Colman Yards Mixed-Use Development in Illinois
Yield Pro | Dec. 1 | Economic Development | Revolving Loan Funds (RLFs) | Tax Credits

Stillwater Utilities Authority Receives $37M Through the Oklahoma Drinking Water State RLF
Oklahoma Water Resources Board | Nov. 30 | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs)

Black Business Boom Empowers Bankable Minority Businesses in Tennessee
Cision PR Newswire | Nov. 29 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs)

Birmingham, AL Approves $5M Loan to Help Keep Birmingham-Southern College Open
WBHM | Nov. 29 | Community Development | Economic Development | Education | Revolving Loan Funds (RLFs)

California Infrastructure Leaders Commit to Build Opportunities for Minority Firms
ENR California | Nov. 29 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs)

Revolving Loan Fund in Greencastle, IN Continues Supporting Local Small Businesses
The DePauw | Nov. 28 | Access to Capital | Community Development | Revolving Loan Funds (RLFs)

$5M RLF Increase Approved for Improvements in Cumberland County, NC
Eastern North Carolina NOW | Nov. 18 | Community Development | Economic Development | Redevelopment | Revolving Loan Funds (RLFs)

U.S. EPA Invests $52M for Wastewater Infrastructure in Puerto Rico
U.S. Environmental Protection Agency | Nov. 14 | Development Finance Toolbox | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | EPA Revolving Loan Fund Grants

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


New Additions to the Online Resource Database

CDFA-NASDA Foundation Socially Disadvantaged Farmers & Ranchers Access to Capital Toolkit
Access to Capital | Agriculture Finance | CDFA Original Research | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development | Social Finance
The CDFA-NASDA Foundation Socially Disadvantaged Farmers & Ranchers Access to Capital Toolkit is a set of best practice resources designed to provide practical assistance to communities looking to invest in socially disadvantaged farmers and ranchers. The toolkit will address topics from effective revolving loan fund management to leveraging bonds, tax increment, and other forms of public and private capital, to encourage increased investment in socially disadvantaged farmers and ranchers.


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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