Join Us Next Month for CDFA's Intro to Brownfields Finance Course
Brownfields pose health, safety, and economic threats to communities because of lingering legal, regulatory, or site control challenges on top of the underlying environmental hurdles causing roadblocks for development. This comprehensive training curriculum helps economic developers, policymakers, and real estate professionals understand and master the financing strategies for the lifecycle of a brownfield property. Register today to attend!
Growth Loan Fund Provides Funding for Early-Stage Businesses in Minnesota
The Minnesota Department of Employment and Economic Development (DEED) launched the Growth Loan Fund as part of the recently announced $97 million through the State Small Business Credit Initiative (SSBCI) from the U.S. Department of the Treasury. This new program provides direct loans from DEED to technologically innovative seed and early-stage businesses.
Cleveland, OH Introduces $15M in New ‘Housing for All' Requests
Cleveland, OH Mayor Justin Bibb wants to spend $15 million of American Rescue Plan Act funds on proposals aimed at improving housing throughout the city. One proposal would establish a $10 million fund to help homeowners and landlords pay for improvements on their homes, the other proposal would spend an additional $5 million to create a revolving loan fund to repair 100 vacant and abandoned homes.
Lendistry Closes $85M Senior Debt Offering in One of the Largest Institutionally-Led Capital Raises by a CDFI in 2022
The investor consortium included 25 banks, insurance companies and ESG-focused institutions. This innovative structure provides attractive financing for Lendistry. Proceeds will support underserved small business lending initiatives across America.
Colorado Startup Loan Fund Introduces New Financing Options to Help Small Businesses
The Colorado Startup Loan Fund at the Office of Economic Development and International Trade (OEDIT) is introducing new financing options for small business owners looking to start, restart, or restructure a business. The Fund will focus on serving business owners who have historically encountered barriers to bank financing so they can start and grow the types of thriving businesses that make up the heart of the Colorado economy and communities.
$143M in Federal Infrastructure Funds to be Used for Water Projects Across Wisconsin
Governor Tony Evers announced $143 million in federal funds to improve wastewater and drinking water infrastructure across the state. The funds come from the federal Bipartisan Infrastructure Law and will provide $800 million over five years to the State Revolving Loan Fund, which is composed of the Clean Water and Safe Drinking Water loan programs.
JEDCO Awarded $1.5M for JEDgrow Program
The Jefferson Parish Economic Development Commission (JEDCO) received a $1.5 million CARES Act Recovery Assistance Grant from the EDA to provide critical gap financing that will help small Jefferson Parish businesses grow, thrive, and create new employment opportunities. The funds are available for small business loans through the JEDCO Growth (JEDgrow) Fund.
$40M Investment to Bring More Than 600 Jobs to Eastern Kentucky
Several Eastern Kentucky communities received more than $9.9 million in Appalachian Regional Commission (ARC) Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) funds to support 11 projects. The projects will create more than 600 jobs and will generate up to a $40 million investment.
USDA Invests $658K in West Virginia Organizations Supporting Rural Businesses and Communities
U.S. Department of Agriculture (USDA) West Virginia Director Ryan Thorn announced that 11 organizations will receive grants totaling $658,900 for economic and community development projects. This includes $50,000 to establish a revolving loan fund to support small businesses to fund their operating expenses or to provide capital improvements that will lead to growth and expansion.