CDFA Announces 2023 CDFA Equitable Lending Learning Series
The CDFA is excited to announce the new 2023 CDFA Equitable Lending Learning Series, created in partnership with Lendistry and The Center by Lendistry. The CDFA Equitable Lending Learning Series will provide in-depth instruction to small business lenders on loan fund policies, lending processes, and other practices that remove barriers to capital and proactively advance economic justice.
$1.5M Federal Grant Funneled to Maine's Affordable Housing Crisis
A Maine affordable housing lender will use a $1.5 million grant from the U.S. Treasury Department to help address the state's affordable housing crisis. The Genesis Fund will funnel the award from the Equitable Recovery Program to areas identified in the latest Census as those that have experienced economic impacts from the COVID-19 pandemic.
Join CDFA for Our Upcoming Intro Tax Increment Finance Course!
Register for CDFA's Intro Tax Increment Finance Course taking place on June 14-15 to learn the guiding principles and appropriate application of TIF. Our panel of expert speakers will discuss TIF deal-making and best practices highlighted by projects from around the country.
Alabama Senate Approves $8.8B Education Budget, $2.8B Surplus Spending Plan
The Alabama Senate approved a record $8.8 billion state education spending plan for fiscal 2024 and an unprecedented $2.8 billion supplemental spending bill for this fiscal year. This includes $30 million for a new Distressed Institutions of Higher Education Revolving Loan Program administered by the State Treasurer.
Colorado Launches 'Landmark' Cannabis Loan Program for Social Equity Businesses
Colorado Governor Jared Polis and the Cannabis Business Office (CBO) have launched the Cannabis Business Loan Program for social equity licensed cannabis businesses in the Centennial State. The CBO had teamed up with lender NuProject to finance marijuana companies, which are not allowed to loan from traditional lenders. The initial $1 million investment is expected to lend $2.9 million over the next 10 years, creating and retaining important jobs in the state.
New Grow NCC Loan Fund to Support Small Businesses in New Castle County, DE
A new revolving loan fund developed by New Castle County, Discover Bank, and The Grow America Fund will offer low-interest loans to small businesses, providing beneficial access to capital amid a time of rising rates. The initial funding includes $750,000 appropriated by the county, $250,000 donated by Discover, and $3 million allocated by The Grow America Fund in a 3-1 match.
$2M Available for Eligible Small Businesses Through New RLF in Harlingen, TX
Harlingen Economic Development Corporation (HEDC) has partnered with PeopleFund, a nonprofit Community Development Financial Institution (CDFI), to launch a revolving loan fund that will provide $2 million in loan capital for eligible small businesses located within the Harlingen city limits. HEDC will grant $500,000 to PeopleFund to match their $1.5 million, and PeopleFund will originate and service the loans to eligible Harlingen small businesses.
Louisiana Rural Infrastructure Loan Program Bill Passes First Hurdle
A bill to help the state's small rural communities to fund infrastructure projects and address emergency issues moves to the House Committee on Appropriations after clearing the Ways and Means Committee. The Louisiana Rural Infrastructure Revolving Loan Program would be operated by the Department of Treasury, which would invest money in the fund to use interest earned on investment to provide loans of up to $1.5 million.
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