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CDFA Revolving Loan Fund Finance Update - November 10, 2020

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Revolving Loan Funds Update
November 10, 2020
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Revolving Loan Fund Finance Update


EDA Revolving Loan Fund Legislation Signed Into Law
Congress enacted the Reinvigorating Lending for the Future Act of 2020. The legislation reforms the Economic Development Administration's Revolving Loan Fund program by eliminating the burdensome "in perpetuity" reporting requirements, and instead releases the federal interest in EDA RLFs after seven years.

USDA Looks to Conservation Finance to Deliver More Working Lands Conservation
The U.S. Department of Agriculture's Natural Resources Conservation Service is the nation's largest funder of conservation on private land. Conservation finance and conservation partnerships have become an increasingly popular tool for NRCS and private investors alike.

Senator Brown Announces Over $1.1M for Rural Development in Southeast Ohio
U.S. Senator Sherrod Brown announced that the United States Department of Agriculture's Community Facilities Direct Loan and Grant Program has awarded a total of $1,127,000 to 13 counties in southeast Ohio. The funds for this program are a part of the USDA's Rural Development initiative, which provides affordable funding to develop essential community facilities in rural areas.

VEDA Secured $75M in Loans and $11.7M in PPP
 The Vermont Economic Development Authority approved $75 million in financing assistance for 439 Vermont businesses and farms during its fiscal year. VEDA also approved $11.7 million in Paycheck Protection Program forgivable loans for 264 Vermont businesses and farms as part of its support of federal and state economic disaster relief programs.

Main Street Loan Demand Surges on Cerebro Capital's Platform
Cerebro Capital, a commercial loan platform, announced that middle-market borrowers have been actively using Cerebro's platform to help secure over $300 million of the Federal Reserve's Main Street Lending Program (MSLP) loans over the past five months. In October alone, Cerebro clients have closed over $60 million in MSLP loans, representing the largest increase in MSLP loan activity Cerebro has seen.

Trenton, NJ Launches New Job Creation Loan Program
Mayor W. Reed Gusciora announced that Trenton businesses that want to expand or have lost workers due to COVID-19 can now access Trenton's new Job Creation Loan Program, managed by N.J. Community Capital. It offers a 50% matching loan at three% interest, with a maximum loan amount of up to $250,000.

Fresno, CA to Take Applications for $830K in CARES Funding
The City of Fresno's Economic Development Department announced Wednesday that it will begin accepting applications for a Revolving Loan Fund that will provide critical gap financing to small businesses and entrepreneurs adversely affected by the coronavirus pandemic in Fresno.

Innovative Water Quality Improvement Program in Kennett Township, PA
Kennett Township will be the first municipality in Pennsylvania to enter into the Revolving Water Fund program, which will help them meet the regulatory mandates of the federal government and the Pennsylvania Department of Environmental Protection.

Upcoming Events
CDFA Virtual National Summit: Financing Our COVID Recovery

CDFA // BNY Mellon Development Finance Webcast Series: Financing Resilient Infrastructure
Tuesday, November 17, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will analyze how to finance the built environment to mitigate disaster and protect human life.

CDFA-PFM Capital Markets Webinar Series: An Advanced Discussion on Ratings
November 19, 2020 - 2:00 - 3:30 PM Eastern
During this installment of the CDFA-PFM Capital Markets Webinar Series, we will gather experts from the leading rating agencies for a timely discussion on ratings, long-term outlooks, and how municipal advisors determine the importance of rating deals.


Texas Council Gives Ok for Convenience Store
Texarkana Gazette | Nov. 10 | Revolving Loan Funds (RLFs)

Keeping Doors Open: IDA Loan Assists City Business
The Post Journal | Nov. 3 | Revolving Loan Funds (RLFs)

Why Many Black-Owned Businesses Are on The Brink
Milwaukee Mag | Nov. 2 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | Social Finance | U.S. Small Business Administration (SBA) | COVID-19

America Is Hungry for Sustainable Food Systems. Can We Build Them?
Green Biz | Nov. 2 | Access to Capital | Agriculture Finance | Crowdfunding | Food Systems Finance | Revolving Loan Funds (RLFs)

USDA Invests $891M in Rural Water and Wastewater Infrastructure Improvements in 43 States
USDA | Oct. 29 | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA) | Water Finance

Vermont Community Loan Fund Makes SPROUT Loans Available for Working Lands Entrepreneurs
Vermont Biz | Oct. 29 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

We Must Collectively Commit to Rebuilding the Small Business Sector
Kauffman Foundation | Oct. 29 | Access to Capital | Disaster Recovery & Relief | Federal | Revolving Loan Funds (RLFs) | State Small Business Credit Initiative (SSBCI) | U.S. Small Business Administration (SBA) | COVID-19

COVID-19 Relief Funds Help Minnesota Farmers Restructuring Debt
Minnesota Department of Agriculture | Oct. 28 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA) | COVID-19

Organically Grown Establishes Grant, Low Interest Loan Fund
The Packer | Oct. 26 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

How Place-based Strategies in Virginia Are Leveraging Private Capital for Public Good
Impact Alpha | Oct. 26 | Community Development | Food Systems Finance | Housing Finance | Opportunity Zones | Revolving Loan Funds (RLFs)

VEDA Approved $5.9M in Financing Last Quarter, Plus PPP Loans
Vermont Biz | Oct. 19 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | COVID-19

Lorain County, OH Applying for $500K EPA Brownfield Cleanup Grant
Morning Journal | Oct. 18 | Brownfield Financing | Revolving Loan Funds (RLFs)

Congressman Rogers Announces $1.18M in USDA Rural Development Funding
Commonwealth Journal | Oct. 17 | Revolving Loan Funds (RLFs)

Portland, OR Grocery Creates Microloan Program
Grocery Dive | Oct. 14 | Access to Capital | Food Systems Finance | Revolving Loan Funds (RLFs)

What Smaller Texas Communities Can Learn from Startups About COVID-19 Economic Recovery
KXAN | Oct. 13 | Access to Capital | Disaster Recovery & Relief | Economic Development | Revolving Loan Funds (RLFs) | COVID-19

The Council of Development Finance Agencies (CDFA) 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 www.CDFA.net or email info@cdfa.net

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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