Join us for the Intro Bond Finance Course at CDFA Virtual Summer School!
On August 4-5, tune in for the Intro Bond Finance Course at the CDFA Virtual Summer School. Learn about the requirements for issuing a bond, the rules and regulations that govern tax-exempt and taxable bonds, the major players involved in a bond transaction, and the roles and responsibilities of both public and private sector participants. Attendees will also learn about the tax-exempt bond market, the ratings process, how to buy and sell bonds, and ongoing continuing disclosure.
USDA to Invest $1B to Purchase Healthy Food & Build Food Bank Capacity
The USDA will make a series of investments under the Build Back Better initiative to improve access to nutritious food, address racial injustice and inequity as well as a changing climate, provide ongoing support for producers and workers, and create a more resilient food system. This $1 billion will help resolve lingering challenges directly associated with the COVID-19 pandemic and start addressing long-term challenges to our nation's food system.
USDA to Invest an Additional $4B to Strengthen Food System
Citing lessons learned from the COVID-19 pandemic and recent supply chain disruptions, the USDA announced plans to invest more than $4 billion to strengthen critical supply chains through the Build Back Better initiative. The new effort is directed by Executive Order 14017 America's Supply Chains will create new market opportunities, tackle the climate crisis, help communities that have been left behind, and support good-paying jobs throughout the supply chain.
The SBA's $28.6B Restaurant Revitalization Fund Needs More Money
The Small Business Administration's Restaurant Revitalization Fund has more than $75 billion in applications and only $28.6 billion in funding — but help could be on the way. Sen. Ben Cardin, D-Md., chairman of the Senate's Small Business Committee, said in a hearing featuring SBA Administrator Isabel Guzman that the Senate's leadership is mulling over fresh legislation for the program, including more funding.
Banks Fight $4B Debt Relief Plan for Black Farmers
The Biden administration's efforts to provide $4 billion in debt relief to minority farmers is encountering stiff resistance from banks, which are complaining that the government initiative to pay off the loans of borrowers who have faced decades of financial discrimination will cut into their profits and hurt investors. The debt relief was approved as part of the $1.9 trillion stimulus package that Congress passed in March, but no money has yet gone out the door.
The Impact of COVID-19 on Ag Lending
Everyone has been impacted by the COVID-19 pandemic in some way or another, and the agricultural industry is no different. This outlines three areas of impact from COVID-19 that lenders to the ag industry will want to continue to evaluate in 2021: farm income, loan demand, and credit risk.
The Food System is Critical Infrastructure
Congress is considering two massive investments in America's infrastructure: the American Jobs Plan, focused on physical infrastructure and jobs, and the American Families Plan, focused on human infrastructure and care. Federal investment in food systems offers a powerful opportunity to connect the two plans, reinforcing the relationship between farmers and communities that our siloed policy structure too often misses.
Oshkosh, WI Food Co-op Awarded $250K Loan to Complete the Project
The Greater Oshkosh Economic Development Corporation announced the signing of a Revolving Loan Fund award and the award of two Capital Catalyst grants to local startups. The Oshkosh Food Co-op is scheduled to open later this summer and was able to raise funds through grants, member loans, charitable donations, and memberships. The $250,000 award is the main business loan that is needed to complete the Food Co-op project.
Vermont Farm Fund Lends Over $2M Statewide
Over the past 10 years, the Vermont Farm Fund, a nonprofit revolving loan fund, has made over $2 million in loans to Vermont farmers and food producers to help build the local agricultural economy. Originally founded in 2011 in response to Tropical Storm Irene, the Vermont Farm Fund has grown to provide not only emergency loans to farmers who have experienced a fire, flood or storm, but also to help food-related businesses grow and expand.
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