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CDFA Revolving Loan Fund Finance Update - December 10, 2019

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Revolving Loan Funds Update
December 10, 2019
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Revolving Loan Fund Finance Update


Announcing the CDFA Federal Policy Conference: April 14-15, 2020 in Washington, DC
The CDFA Federal Policy Conference will highlight policies and programs at the federal level and will feature development finance experts and practitioners from key federal agencies, congressional offices, and policy organizations. Attendees will have access to networking opportunities with a dozen federal agencies, a federal grant application writing workshop, and so much more. Register now to secure your spot!

Mahoning Valley EDC Gets Grant to Start $2M Revolving Loan Fund from U.S. EDA
The Mahoning Valley Economic Development Corporation was just awarded a $1.6 million grant from the U.S. Economic Development Administration to start a Revolving Loan Fund. The $1.6 million will be matched by $400,000 in local funds. The RLF is expected to help create 200 jobs, retain 55 jobs, and generate $9 million in private investment.

Rural Nevada Development Corporation Leverages $17.2M in Small Business Loans
For more than 25 years, Rural Nevada business owners have benefited from a small but powerful alternative lender — the Rural Nevada Development Corporation (RNDC). USDA Rural Development Nevada (RD Nevada) is proud to partner with this economic dynamo. From that initial investment, RNDC has leveraged $17.2 million in revolved loan value, including $4.4 million in match from private cash match and owner injection, more than doubling the original loan investment.

Amazon to Give Virginia $20M for Affordable Housing
In Virginia, Amazon is offering $20 million to Arlington County affordable housing investment fund in exchange for being allowed to build a bigger headquarters complex in Pentagon City neighborhood than zoning allows.

VT Distillery to Receive $25K from Revolving Loan Fund
Ripton Mountain Distillery in Brandon, Vermont has been approved for a $25,000 loan from the town's successful revolving loan fund, to support the final phases of renovation for their tasting room and bar space. This fund has helped other small businesses in Brandon, like Red Clove Ale and Olivia's Croutons, and is considering expanding to support projects like solar energy development as well.

Colorado Lending Source and Fort Collins, CO Partner on Small Business Loan Program
Colorado Lending Source and the City of Fort Collins have partnered to help make access to capital more attainable for small businesses by creating the Fort Collins Main Street Loan Program. This loan program is a friendly and affordable option for Fort Collins-based businesses seeking capital from $5,000-$50,000 and are unable to secure traditional financing sources.

New OH Community Loan Fund Backs 3 Projects in Akron
The Western Reserve fund, which the Development Finance Authority of Summit County (DFA), said it helped to form in spring with $900,000 in initial funding, is currently a 501(c)(3) nonprofit. The DFA plans to apply to have the fund designated as a community development financial institution (CDFI). The Greater Akron Chamber is using the funds toward its new headquarters, the Well for its "Launch Kitchen" and trucking company JRayl for a new office headquarters in town.

Madison OKs Loan to Assist ProCoat's Relocation
Madison City Council Tuesday approved a $150,000 loan from the city's revolving loan fund to assist a North Vernon company in relocating to Madison. Under terms of the deal, Messer will repay the loan over 10 years at 4.5% interest and agreed to expand his workforce and work with local non-profits for training and hiring.

Upcoming Events
Intro Food Systems Finance WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: Sourcing Local Capital for Community Projects
Tuesday. December 17, 2019 - 1:00 PM Eastern
From crowdfunding to co-ops, during this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will learn about the tools that are being used to bridge the financing gap and make local economies work.


Joint Revolving Loan Benefits City and County 
Door County Daily News | Dec. 9 | Revolving Loan Funds (RLFs)

Flood Control Revolving Fund Makes Resources Available to Communities in IN
The PEW | Dec. 9 | Disaster Recovery & Relief | Revolving Loan Funds (RLFs)

MN Public Facilities Authority Awards $9.5M to Water Infrastructure Projects
Fillmore County Journal | Dec. 9 | Revolving Loan Funds (RLFs) | Water Finance

Burlington, VT City Council Approve Performing Arts RLF
myracinecounty.org | Dec. 9 | Revolving Loan Funds (RLFs)

Wheeling, WV Seeks Brownfield RLF
WTRF | Dec. 6 | Brownfield Financing | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

Pomeroy, OH Receives $3.7M in Funding for Sewers
My Daily Sentinel | Dec. 4 | Revolving Loan Funds (RLFs) | Water Finance

Low-interest Loans, Vacant Storefronts: How Downtown Springfield, MA Is Attracting Restaurants
Mass Live | Dec. 2 | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs) | Special Assessment Districts

AK Ag Industry Frets Over Plan to End Local Grown RLF
Stock Daily Dish | Dec. 1 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

Waukesha County's GROW Fund to Start Lending Soon
gmtoday.com | Nov. 29 | Revolving Loan Funds (RLFs)

$5M Grant to Kick-Start Columbus, OH Revival Initiative Focused on Housing, Health and Business Assistance
Columbus Business Journal | Nov. 26 | Access to Capital | Community Development | Housing Finance | Local Finance Program | Revolving Loan Funds (RLFs) | Social Finance

New Water System to Support Economic Development in Walla Walla, WA
Union-Bulletin | Nov. 24 | Economic Development | Revolving Loan Funds (RLFs) | State Finance Program | Water Finance

When a FL Small Town's Only Grocery Closed, City Hall Opened Its Own
The Washington Post | Nov. 22 | Community Development | Food Systems Finance | Revolving Loan Funds (RLFs)

How State RLFs Can Be Used for Ag Conservation
Pork Business | Nov. 22 | Agriculture Finance | Bond Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

'Michigan Good Food Fund' Shares Why They Support Growers
Growing Produce | Nov. 14 | Access to Capital | Agriculture Finance | Food Systems Finance | Public-Private Partnership (P3) Financing | Revolving Loan Funds (RLFs)

A Network of Foundations Takes on Big Ag by Financing Small Farmers
Inside Philanthropy | Nov. 13 | Access to Capital | Agriculture Finance | Food Systems Finance | 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


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CDFA National Sponsors

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • 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
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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