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CDFA Revolving Loan Fund Finance Update - June 11, 2024

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Revolving Loan Funds Update
June 11, 2024
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Revolving Loan Fund Finance Update

Features

Join CDFA for Our Upcoming Intro Tax Increment Finance WebCourse
Register for CDFA's Intro Tax Increment Finance (TIF) WebCourse taking place on June 26-27. Join us to learn the guiding principles and appropriate application of TIF. Our panel of expert instructors will discuss TIF deal-making and best practices highlighted by projects from around the country.

EDA Invests $800K to Capitalize an RLF and Support Small Businesses in South Dakota
The U.S. Department of Commerce's Economic Development Administration (EDA) is awarding an $800,000 grant to the Northeast Council of Governments Development Corporation in Aberdeen, South Dakota, to capitalize and administer a Revolving Loan Fund (RLF) serving small businesses in 12 counties in Northeast South Dakota. The RLF will support businesses facing obstacles in obtaining traditional financing to help them grow and create new jobs and economic opportunities.

It's Time to Register for the 2024 CDFA Summer School!
CDFA Summer School is a 2-week long virtual series of courses designed to help you accelerate your development finance education, with a curation of seven different training courses to choose from. Don't miss the opportunity to learn from our expert practitioners and experience CDFA's most interactive educational event of the year! Register today!

New Nonprofit Loan Program Aims to Increase Litchfield County, CT's Affordable Housing
The Litchfield County Center for Housing Opportunity and the Foundation for Community Health are offering a revolving loan program to help housing nonprofits improve or construct affordable housing. The loans, which have a 3% interest rate, will be used toward the purchase of property to create affordable housing. As a revolving loan program, loan payments will flow back into the program and be available to loan again.

The Walker River Tribe in Nevada Receives $2.4M for Clean Water Infrastructure Project
Members of the Walker River Paiute Tribe who depend on well water have been plagued by water scarcity, brought on by a lack of infrastructure and funding. Between aging pipes, pollutants and regional drought, the tribe's existing water infrastructure has been stretched to its limits. But after seven years of lobbying, the Walker River Paiute Tribe now has the funding it needs for a $12 million water system improvement project to secure a reliable and sustainable water supply for well users on the tribe's reservation. In total, the project will provide a comprehensive domestic water supply distribution system for more than 100 residences on the reservation.

EPA Grants to Fund Site Cleanups and Renovation in North-Central Montana
Two Montana economic development organizations will receive $500,000 each in grant funding from the U.S. Environmental Protection Agency to clean up and renovate sites on the Blackfeet Reservation and near Rocky Boy's Reservation. One grant will go to the Bear Paw Development Corporation to look into cleaning up and retrofitting or renovating several sites in Havre and Box Elder. The other $500,000 grant will go to the Sweetgrass Development Corporation, which will work with the North Central Montana Economic Development District to look at five different sites in Browning, Sunburst, and East Glacier Park.

Four New Jersey Communities Secure $3M Total in Brownfields Grants
Four New Jersey communities will receive $3 million through a recent round of federal grant funding. The awards come from the U.S. Environmental Protection Agency's Brownfields Multipurpose, Assessment, and Cleanup Grant Programs and Revolving Loan Fund Grant Programs. The brownfields initiatives work to transform once-polluted, vacant, and abandoned properties into community assets.

Milwaukee, WI Startup Incubator, FOR-M, Launches New Revolving Loan Fund
Milwaukee-based startup incubator FOR-M announced a new funding opportunity for startup founders. The organization had launched a revolving loan fund, which will offer low-interest loans to founders who have previously received a FOR-M grant, or a grant from a similar WEDC-funded program like Yes Blueprint. The revolving loan fund will provide up to $50,000 to founders who need to scale their businesses. Loan recipients will be selected by a panel of investors, who will also offer guidance and support to the loan recipients. The fund will start with an initial pool of $130,000, which will be replenished as the loans are repaid.

Upcoming Events
CDFA Summer School

CDFA FedFund Briefing: Community Change Grants
June 13, 2024 - 2:00 PM - 3:00 PM Eastern
CDFA will host staff from the U.S. Environmental Protection Agency (EPA) to discuss the Environmental and Climate Justice Community Change Grant program, a $2 billion funding opportunity to advance environmental and climate justice projects in communities impacted by climate change, legacy pollution, and historical disinvestments.

CDFA // BNY Mellon Development Finance Webcast Series: Impacts of Inflation on Bond Yields, Arbitrage, and Rates
June 18, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will walk through the impact of rate hikes on yield and arbitrage and share best practices for managing these impacts.

Headlines

Over $200M Water Infrastructure Investment: Local Communities Set to Benefit from Illinois EPA's RLF Funding Boost
WREX | Jun. 11 | Access to Capital | Development Finance Toolbox | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Bond Commission OKs Community Investment Fund New Haven, CT Grants
Patch | Jun. 10 | Bond Finance | Brownfield Financing | Community Development | Economic Development | Housing Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Social Finance

FBN® Finance Surpasses $2 Billion in Financing Provided to Growers
Yahoo!Finance | Jun. 6 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs)

Waukegan, North Chicago Pursuing Funding for Replacement of Lead Pipes
Chicago Tribune | Jun. 6 | Access to Capital | Innovation Finance | Revolving Loan Funds (RLFs) | Water Finance

Downtown Business Seeking Approval for Plattsburgh's Revolving Loan Fund
Plattsburgh Press-Republican | Jun. 5 | Access to Capital | Community Development | Development Finance Toolbox | Economic Development | Revolving Loan Funds (RLFs)

Fitch Rates Indiana Finance Authority's State Revolving Fund Program Bonds 'AAA'
Fitch Ratings | May. 29 | Access to Capital | Green Finance | Revolving Loan Funds (RLFs) | State Finance Program | Market Reports | Green Bonds

New York City Mayor Adams Makes $10M Investment To Seed New Small Business Loan Fund
The City of New York | May. 29 | Access to Capital | Community Development | Development Finance Toolbox | Economic Development | Revolving Loan Funds (RLFs) | Urban Development

IFC to Help Financial Institutions Support Small Businesses Through New Platform
IFC | May. 28 | Access to Capital | Innovation Finance | Revolving Loan Funds (RLFs) | Social Finance | Loan Guarantees | Microenterprise & Microloans

Carver Bancorp, Inc. Announces $25M Revolving Loan Facility with NY Green Bank to Support Building Decarbonization Projects in New York City
PR Newswire | May. 28 | Access to Capital | Green Finance | Revolving Loan Funds (RLFs)

Pennsylvania Boosts Agriculture With New Funding Awards
My ChesCo | May. 25 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

$20M Loan to Help Oak Ridge, TN Pay for New Water Treatment Plant
The Oak Ridger | May. 24 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Rockford, IL Receives $3.5M EPA Grant for Brownfields Cleanup
WREX | May. 23 | Brownfield Financing | Community Development | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

Fast-Growing Northern Colorado Wins $250M in Loans for New Dam, Regional Water Project
The Colorado Sun | May. 23 | Access to Capital | Revolving Loan Funds (RLFs) | Water Finance

Greater Berks Development Fund Awards $400K for Farm Acquisition in Jefferson Township, PA
Berks Weekly | May. 22 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

Rhode Island Infrastructure Bank Issues $41.6M Bond for Sewer Overflow Project
PBN | May. 21 | Bond Finance | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Water Finance | Water Finance | Sewage & Waste | State Revolving Fund

PCEDC Receives $1M in Brownfields Funding
The Piscataquis Observer | May. 21 | Access to Capital | Brownfield Financing | Economic Development | Revolving Loan Funds (RLFs)



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
info@cdfa.net

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CDFA National Sponsors

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  • BNY Mellon
  • Bricker Graydon LLP
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  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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