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CDFA COVID-19 Recovery & Relief Update - October 13, 2020

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COVID-19 Recovery & Relief Update
October 13, 2020
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COVID-19 Recovery & Relief Update

Features

White House Pivots Again on Stimulus Negotiations After Bipartisan Backlash
The White House again pivoted its approach to stimulus negotiations on Sunday, with the president's aides pushing for immediate action on a narrow measure after the administration's $1.8 trillion proposal was rebuffed by members of both parties.

Business Credit Programs in the Pandemic Era
The Federal Reserve's Main Street Lending Program for small and medium-sized businesses should take more risks to meet the unique challenges posed by the COVID-19 pandemic, suggests a paper discussed at the Brookings Papers on Economic Activity (BPEA) conference.

What Smaller Texas Communities Can Learn from Startups About COVID-19 Economic Recovery
As the coronavirus pandemic continues to take a toll on lives and healthcare systems across the country, communities are also having to contend with the economic fallout of the COVID-19 pandemic. Now, 58 Texas communities beyond metropolitan areas have a new lifeline in weathering this storm: an accelerator program that uses the lessons of business startups to help them create paths forward.

Coronavirus Economy: Recovery of California's Bay Area Is One of Nation's Most Feeble
Once a leading economic powerhouse, the Bay Area now is one of the nation's weakest regions in recovering the jobs lost when coronavirus-linked business shutdowns began. The East Bay, the San Francisco-San Mateo region, and Santa Clara County are performing so poorly in recovering from the epic employment losses of March and April that these local regions are in the bottom 10 of a ranking of 30 large metro areas in the U.S.

$10M Awarded to Fund Access to Fresh Food, COVID-19 Mitigation Efforts in Low-Income Pennsylvania Communities
 At Karimar Grocery in Franklin County yesterday, Agriculture Secretary Russell Redding and Community and Economic Development Secretary Dennis Davin announced that more than 100 projects, funding access for fresh food in low-income communities, have received grants through Pennsylvania's $10 million Fresh Food Financing Initiative.

Stand-Alone Airline Bill Under Discussion After Broader Coronavirus Aid Stalls
One day after pulling the plug on a new coronavirus relief package, the Trump administration made a push for piecemeal legislation to help the pandemic-battered airline industry. Treasury Secretary Steven Mnuchin called Speaker Nancy Pelosi on Wednesday morning to inquire about a separate aid package for airlines.

Will Remote Work Change Central Business Districts?
The open-ended work-from-home orders millions of Americans received from their employers, and the apparent success of that model to date, raises questions about the future commitment of corporations to basing their employees in cities or office buildings in general, and whether the work-from-home strategy can be a win-win situation.

Food Policy Scorecard Underscores Congress' Failure To Feed Hungry, Protect Workers
Food Policy Action and the Environmental Working Group Action Fund released an updated report today scoring every member of the Senate and the House of Representatives for their votes on legislation related to food and farm policy. To arrive at a score for each member of Congress, Food Policy Action and EWG Action Fund selected ten bills and amendments that lawmakers voted on during the 116th session of Congress.

How Businesses Can Fix Our Broken Food System
The most progressive businesses have accepted that protecting human health and the planet makes economic sense. Yet investments towards sustainable agri-food systems are a fraction of what is needed to drive systemic change. Businesses will not be able to transform food systems without the support of investors, public policy, and consumers. But the role of the private sector as a catalyst for change is indisputable.

Upcoming Events
CDFA Virtual National Summit: Financing Our COVID Recovery

CDFA // BNY Mellon Development Finance Webcast Series: Manufacturing Bonds for Disaster Response
Tuesday, October 20, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will look at how IDBs act as a resilient economic driver by financing the manufacturing facilities that stabilize local economies during crises.

CDFA-PFM Capital Markets Webinar Series: Pricing Private Activity Bonds in Complex Capital Stacks
October 22, 2020 - 2:00 - 3:30 PM Eastern
During this installment of the CDFA-PFM Capital Markets Webinar Series, project finance experts and issuers will discuss the viability of how private activity bond deals can fit into complex capital stacks.

State & Local Programs

Deadline Fast Approaching for North Carolina COVID-19 Rapid Recovery Loan Program
Montgomery Herald | Oct. 8 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Rural Development | State Finance Program | Revolving Loan Funds (RLFs) | COVID-19

Carlsbad, CA Approves Small Business COVID-19 Loans
The Coast News Group | Oct. 8 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs) | COVID-19

University City, MO Announces New $850K Small Businesses Assistance Program
KSDK | Oct. 8 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs) | COVID-19

A Mission-Minded Loan Source That Doesn't Care if You're a Startup With No Experience, Revenues, or Credit
The Colorado Sun | Oct. 8 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | COVID-19

Strict Rules Keep Business Out of New Mexico Loan Program
KRQE | Oct. 7 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | State Finance Program | Revolving Loan Funds (RLFs) | COVID-19

El Centro, CA Awarded $550K by CARES Act for Business Loans
The Desert Review | Oct. 7 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | U.S. Economic Development Administration (EDA) | Revolving Loan Funds (RLFs) | COVID-19

SCOCOG Offers Revolving Loans to Small Businesses Looking to Grow
West Plains Daily Quill | Oct. 7 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | U.S. Economic Development Administration (EDA) | COVID-19

New Mexico State Senator Eyes Permanent Small-Business Fund
Santa Fe New Mexican | Oct. 6 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | State Finance Program | COVID-19

Federal Financing Programs

Agency Seal U.S. Dept. of Commerce (DOC)

EDA CARES Act Recovery Assistance
EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau's flexible Economic Adjustment Assistance (EAA) program, provides a wide range of financial assistance...

Agency Seal U.S. Dept. of Education (DoED)

Education Stabilization Fund Discretionary Grants
Congress set aside 1% of the $30.75 billion allotted to the Education Stabilization Fund through the CARES Act for grants to States with the highest coronavirus burden. The Department will make these...

Agency Seal U.S. Small Business Administration (SBA)

Economic Injury Disaster Loan (EIDL)
These loans of up to $2 million help meet financial obligations and operating expenses. Loan advances up to $10,000 are also offered.


The Council of Development Finance Agencies 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 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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