$17M Freed Up for Western NY Economic Development
Nearly $3 million in direct federal grant funding and nearly $14 million in revolving loan funds have been unfrozen for projects throughout the region. That includes money destined for specific investments, as well as dollars intended for the Erie County Industrial Development Agency.
MEDA RLF Used to Support Immigrants
It's been a year since MEDA launched its Adelante Fund for small business lending. In that time, they've made 25 loans, totaling more than $700,000. Of their borrowers, 87 percent are Latino-owned businesses, and a majority are in food and beverage.
New Boston RLF Will Support Women and Minority Owned Business
Northeastern has committed $2.5 million in seed funding, which supports a revolving loan fund of more than $6.5 million. The university is partnering with LISC to make and manage the loans, which will range from $1,000 to $1 million.
Evansville, IN to Launch Re-Vamped RLF Program
Coures says one of the major changes to the revolving loan fund is having a commercial bank underwrite future loans which helps guarantee the loan is paid back. The other big change is allowing loans to be made to a greater variety of business ventures, instead of just manufacturing.
Cedar Rapids, IA Uses RLF to Assist Flood Recovery
The Jobs and Small Business Recovery Fund 2016 initially will be funded with $75,000 from the Cedar Rapids Assistance Revolving Loan Fund and an $8 per book contribution from The Gazette Company from the sale of "Epic Stand."
USDA Awards NE Over $1M to Capitalize RLF Programs
The Nebraska Enterprise Fund in Oakland, will receive a $250,000 Rural Microentrepreneur Assistance Program loan to capitalize a revolving loan fund to make loans of $50,000 or less to rural microentrepreneurs.
RLF Used in Tandem With Kenyon's Small Business Loan Program
Twenty percent of the total project costs is the owner's match. Here SEMMCHRA has committed $100,000 of the Goodhue County Revolving Loan Fund to "cover" the owner's match percentage.
EPA Provides $14.6M to LA Clean Water RLF
The U.S. Environmental Protection Agency (EPA) recently awarded the Louisiana Department of Environmental Quality a grant of more than $14.6 million to fund clean water projects in the state. This grant will go to the state's Clean Water Revolving Loan Fund (CWSRF).
Dickinson College Plans on Using RLF to go Carbon Neutral
Dickinson will contract Solar City to build a 3 megawatt solar system on Rittner Highway that will extend for 8-10 acres. According to Cassel, the project will be affordable thanks to government implemented financial incentives such as the Green Revolving Loan fund and tax credits.
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