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CDFA Revolving Loan Fund Finance Update - April 10, 2018

Revolving Loan Funds Update
April 10, 2018
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Revolving Loan Fund Finance Update


Energy Efficiency RLF Planned as Part of Offshore Wind Project
The revolving loan fund will provide financing for energy efficiency improvements to multifamily, low-income housing, and to give ongoing credits to low-income residents' electricity bills and backup power and cost savings for public buildings.

Scotland County OKs Change to Revolving Loan Fund
The Scotland County Board of Commissioners voted to transfer the control of a revolving loan fund to the Scotland County Economic Development Corporation to offer more flexibility. The $75,000 fund was provided to the county by the Economic Development Association and has assisted five companies so far.

Revolving Loan Fund a Key Tool to Support Richland County Small Business
The program helps create additional jobs, helps brand new businesses start as well as helping existing businesses to improve. "I believe it's been very successful. It's really a win-win for everyone involved," said Leslie Messer, Richland Economic Development's Executive Director.

Humboldt, IA Considers Broadening USDA RLF
The Humboldt, IA City Council is considering merging two urban renewal areas so that its USDA-sponsored RLF can be used in more ways. The RLF is currently restricted to one renewal area because the city used TIF funds from that district as the match for the USDA funds.

Akron Community Revitalization Fund Makes First Loan
The Development Fund of the Western Reserve is issuing its first-ever loan to help underwrite the redevelopment of Akron's historic United Building at Main and Market streets into a 71-room boutique hotel. The Akron Community Revitalization Fund loan is key to the United Building hotel project, which is estimated to cost about $10 million.

Revolving Loan Fund Program ‘Significantly' Helps Gorge Businesses
According to a MCEDD press release, the team completed an independent analysis of MCEDD's revolving loan fund program, revealing that businesses in the program have overall significantly contributed to employment, wages, and community health.

VT House Dedicates $500K to Energy RLF
After the state received $28 million from a settlement with tobacco companies, it was up to the House to apportion it. Much of the funds went to addressing the opiate crisis and the teacher pension fund. $2 million was added to the states rainy day fund and $500,000 was apportioned for a new RLF to support energy improvements on state-owned properties.

Skagit County, WA Revolving Loan Fund Expanding
The National Development Council is taking over the Skagit County Revolving Loan Fund and plans to increase lending and training for small businesses, according to a news release from the development council. NDC will increase the loan amount, which was capped at $80,000.

Submit Your Proposal to Present at the 2018 CDFA National Summit
CDFA needs your help to source deals, projects and programs and will be accepting submissions for potential deals, projects and program presentations. If selected, each speaker will be given one complimentary registration to attend the CDFA National Summit.

Upcoming Events
Intro EB-5 Finance WebCourse

CDFA // BNY Mellon Webcast Series: US vs UK Access to Capital Strategies
Tuesday, April 17, 2018 - 11:00 AM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, learn from U.S. and U.K. experts how each country addresses their respective access to capital challenges, and the ways in which our two countries' can learn from one another to unlock capital.


Pittsburg, KS Lends $300K to Block22
KOAM | Apr. 6 | Revolving Loan Funds (RLFs)

$25M La Pine, OR Infrastructure Project Advances
The Bulletin | Mar. 29 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)

Region 9 EDA RLF Provides Support to Waxed Salon in Durango, CO
EDA | Mar. 20 | Revolving Loan Funds (RLFs)

LEDC Seeking $199K USDA Grant for RLF
Press Reporter | Mar. 14 | Access to Capital | Revolving Loan Funds (RLFs)

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  • Alaska Industrial Development and Export Authority
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  • Bricker & Eckler LLP
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  • Business Oregon
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  • FBT Project Finance Advisors LLC
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  • Z. The Bond Buyer
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