Restaurants shut out of Restaurant Revitalization Fund (RRF) could get another shot at federal relief under changes quietly made in a low-interest loan program run by the SBA. A $500,000 cap on loans awarded under the SBA's Economic Injury Disaster Loans initiative was expanded to $2 million, and the eligibility criteria were recast to match the standards used in the RRF program. The changes are expected to bring $150 billion in aid within easier reach of small businesses.

The Commongrounds Cooperative just received an $8 million loan guarantee from the U.S. Department of Agriculture. The building will be mixed-use and will include workforce housing, a teaching kitchen, office space, an early childcare facility, a food hall, and a small performing arts space.

Promised Land Opportunity Zone Farms I, LLC announced that it recently closed a $50 million debt financing with Conterra Agricultural Capital, LLC. The 10-year financing facility expands Promised Land's ability to acquire, improve, and stimulate economic development associated with farmland located in qualified opportunity zones in the United States.

The Federal Agricultural Mortgage Corporation (Farmer Mac), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural America, announced that it is enhancing its operations by expanding its internal loan servicing function. To further bolster these capabilities, the company has purchased the loan servicing rights for a portion of its Farm & Ranch and USDA Guaranteed loan portfolios through a strategic acquisition.

Foodshed Capital has partnered with Virginia Community Capital and the Virginia Food Access Investment Fund to build sustainable resiliency and equity into food systems. The Virginia Good Food Fund (VGFF) is envisioned to be a network of food system partners, lenders, funders, technical assistance providers, and other stakeholders who work together and combine our resources to support producers and suppliers.

USDA announced that $700 million in competitive grant funding will be available through the new Farm and Food Workers Relief grant program to help farmworkers and meatpacking workers with pandemic-related health and safety costs. Additionally, to recognize the essential role and costs borne by front-line grocery workers, $20 million of this amount has been set aside for at least one pilot program to support grocery workers and test options for reaching them in the future.

Over the last decade and a half, the idea of "impact investing" – where funds are directed to generate not just financial return but also social and environmental impact – has become increasingly popular in investment and social impact circles. More recently, RSF has been pioneering in a new investment area called "regenerative finance."

The new, full-service Homeland grocery store opened in northeast Oklahoma City, increasing access to fresh groceries which has been missing from their neighborhoods for more than 20 years. This public-private partnership deal secured over $10 million in new market tax credits from U.S. Bank and Heartland Renaissance Fund, $3.5 million in tax increment financing, and a social impact loan from Metafund's new Impact Accelerator.

Intro Tax Credit Finance WebCourse
September 29-30, 2021 - Daily: 12:00 - 5:00 PM Eastern

CDFA Food Systems Finance Webinar Series: Debunking Risk in Food System Finance
Tuesday, October 12, 2021 - 2:00 PM - 3:30 PM Eastern

>>> VIEW THE FOOD SYSTEMS RESOURCE CENTER   
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This report describes how three CDFIs drive economic growth in low-income and historically marginalized communities through a model defined by the EFOD Collaborative as Equitable Food Oriented Development (EFOD). EFOD is a development approach that supports locally owned food-based economies. The report details systemic financial barriers that business owners and aspiring entrepreneurs face in marginalized communities.

A Playbook for Scaling Latino-Owned Businesses is designed to support the scaling and continued growth of Latino-owned businesses by offering entrepreneur support organizations, financial institutions, and other stakeholders actions they can take to offer Latino entrepreneurs greater access to financial capital, expanded markets, and support for rapid scale.

During this installment of the CDFA Federal Financing Webinar Series, top officials from the EDA and USDA discussed their new financing solutions for local community facilities and how to coordinate with partners. Programs discussed included the EDA's American Rescue Plan programs and the USDA's Emergency Rural Healthcare Grant program.

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will be discussing creative financing approaches to minimize barriers and increase access to capital for minority-owned businesses across the country.

America's rural workforce provides a vital foundation for the nation's economy. Rural America supplies the nation's food and energy resources, and the fiber necessary for goods and manufacturing. As USDA continues to respond to the COVID-19 pandemic and help restore the economy, USDA remains committed to supporting rural employers and job seekers.

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>>> SEARCH AGRICULTURE RESOURCES