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CDFA Revolving Loan Fund Finance Update - January 9, 2024

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Revolving Loan Funds Update
January 9, 2024
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Revolving Loan Fund Finance Update

Features

Join CDFA for the Return of the Fundamentals of Economic Development Finance Course
Join CDFA as we kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 24-25, 2024! This course is the foundation for all of CDFA's educational offerings and will help attendees understand the variety of development finance tools available including bonds, tax credits, tax increment financing (TIF), federal financing programs, RLFs, Opportunity Zones, and access to capital lending resources.

Nebraska Turns USDA Revolving Funds Into Beef Bacon
Dawson Public Power partnered with the Nebraska Enterprise Fund, a 501(C)(3) nonprofit revolving loan fund, to secure $15 million from the USDA Meat and Poultry Intermediary Lending Program. The first $5 million loan from this funding, along with owner equity and investments, will be loaned to Copperstone Foods to finance the necessary building expansion and cutting-edge equipment to brine, smoke, slice, package, and store the product from short plate to beef bacon.

CDFA Releases Socially Disadvantaged Farmers and Ranchers Access to Capital Toolkit
The CDFA-NASDA Foundation Socially Disadvantaged Farmers & Ranchers Access to Capital Toolkit is designed to assist practitioners working in agriculture and economic development in learning more about the range of finance tools available to assist underserved farmers and ranchers with obtaining capital to start and grow their businesses. This toolkit outlines the many barriers socially disadvantaged farmers and ranchers face with finding affordable funding sources and provides resources and practical assistance to communities looking to invest in them.

New Facilities RLF to Assist Nevada Charter Schools in High-Needs Communities
The Nevada State Infrastructure Bank approved the Nevada Facilities Fund, a $100 million revolving loan fund (RLF), to assist charter schools with a need that, generally, state funding does not cover for any public schools and is instead often funded through bonds. The loan fund is open to charters operating in, or that want to operate in Nevada that can show strong financials and demonstrate that they impact high-needs, historically underrepresented communities.

CDFA is Hiring a New Vice President of Development Finance
The Council of Development Finance Agencies is now accepting applications for Vice President, Development Finance. This position leads CDFA's development finance practice and is responsible for ensuring CDFA delivers on its research projects, resource collection, educational offerings, partnerships, and content creation. Want to join the CDFA family in Columbus, Ohio? Email your cover letter, resume, salary request, and three professional references to jobs@cdfa.net.

Certified Ag Group Introduces New RLF Financing Option
The Certified Agriculture Group (TCAG) is rolling out Certified Agriculture Dealer Financing (CADFi), the next evolution of the only agriculture program in the automotive industry. The CADFi program seeks to bridge the gap in financing/leasing options for the farming and ranching industry. Farmers and ranchers can finance/lease trucks, accessories, and upgrades as well as bundle other farm operation expenses using irregular payment terms that best suit the farm or ranch.

Youngstown, OH City Council OKs $10M for Housing Projects
Youngstown City Council approved three ordinances to spend a combined $10 million in American Rescue Plan funds on three housing initiatives. The legislation includes $5 million to create a fund for down payments and interior work for those wanting to buy homes in the city, $3 million for a residential facade program, and $2 million for a landlord revolving loan fund.

Safeguarding Tomorrow RLF Grant Program to Make Communities Safer
This revolving loan fund program, funded by the Bipartisan Infrastructure Law, provides capitalization grants to eligible applicants nationwide. Applicants then offer low-interest loans directly to local communities to reduce their vulnerability to disasters, promote equity, foster greater community resilience, and reduce disaster impacts. Due to the high level of interest in the first opportunity, the Biden-Harris Administration has tripled the amount of money available in this round of funding to $150 million.

RLF to Provide Low-Interest Loans for Small Businesses in East County, CA
The Santee City Council has approved a plan to allocate the remainder of its $7.3 million in American Rescue Plan Act funding to business and homelessness support programs. This project will create a revolving loan fund (RLF) to provide low-interest loans for small businesses in East County that may face barriers in accessing traditional financing due to high interest rates or more stringent lending requirements.

Missoula County, MT Approves Revolving Loan Fund for Mental Health Services
Missoula County commissioners approved the creation of a revolving loan fund on Tuesday morning for mental health services. The fund will set aside up to $1 million of American Rescue Plan Act funds for nonprofits addressing mental health and substance abuse. Colleen Rudio, the center's interim executive administrator, said the funding, along with grants, will provide stability for services like a consistent long-term facility for those dealing with substance abuse.

Upcoming Events
Fundamentals of Economic Development Finance WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: Bond Market 2024 Forecast
January 16, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will identify trends shaping national bond markets and discuss the economic opportunities to expect for local projects.

Intro Bond Finance WebCourse
March 4-5, 2024 - Daily: 12:00-5:00 PM Eastern
The Intro Bond Finance Course provides an in-depth look at governmental and qualified private activity bonds, with a focus on industrial development bonds (IDBs), 501(c)(3) non-profit bonds, exempt facility bonds, and other special bond programs authorized by the federal government.

Headlines

$34M from Cincinnati, OH Affordable Housing Fund Can't be Spent
WVXU News | Jan. 4 | Economic Development | Housing Finance | Revolving Loan Funds (RLFs)

Wisconsin Communities Receive $414M in State Funding for Water Projects
American City and County | Jan. 2 | Development Finance Toolbox | Legislative | Revolving Loan Funds (RLFs) | Water Finance

Brattleboro, VT RLF Replenished for Housing, Economic Development
Brattleboro Reformer | Jan. 2 | Community Development | Housing Finance | Revolving Loan Funds (RLFs)

Drinking Water State RLF Helps Bradshaw, NE Build a New Steel Water Tower
York News-Times | Dec. 29, 2023 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Massachusetts Provides Substantial Funds for Centennial Water Treatment Facility
Amherst INDY | Dec. 28, 2023 | Economic Development | Revolving Loan Funds (RLFs) | Water Finance

Waco, TX to Seek $20M Loan to Eradicate Lead Pipes
Waco Tribune-Herald | Dec. 24, 2023 | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs)

Michigan RLF Provides High-Quality Drinking Water to Residents
Department of Environment, Great Lakes, and Energy | Dec. 21, 2023 | Economic Development | Revolving Loan Funds (RLFs) | Water Finance

Sunnyside, WA Businesses can Apply Online for Revolving Loan Fund
Sunnyside Sun | Dec. 20, 2023 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs)

Kokomo, IN Revolving Loan Fund Supports Local Dog Grooming Business
Kokomo Tribune | Dec. 20, 2023 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs)

Vermont Governor Announces More Than $4.5M in CDBG and RHP Awards
State of Vermont | Dec. 14, 2023 | Community Development | Housing Finance | Revolving Loan Funds (RLFs)

Revolving Loan Fund Program Offers Loans to Make Nevada Homes More Energy Efficient
Las Vegas Sun | Dec. 14, 2023 | Economic Development | Green Finance | Revolving Loan Funds (RLFs)

TDEC Announce Loans Totaling $17.8M for Fayetteville, TN Water Improvements
TN Department of Environment & Conservation | Dec. 13, 2023 | Economic Development | Revolving Loan Funds (RLFs) | Water Finance

Michigan Awarded Community Development RLF Grant for Energy-Saving Upgrades
CUInsight | Dec. 13, 2023 | Access to Capital | Green Finance | Revolving Loan Funds (RLFs)

Gallatin County, MT Commission Directs RLF to Preserve Belgrade Mobile Home Park
7 KBZK Bozeman | Dec. 12, 2023 | Access to Capital | Housing 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
info@cdfa.net

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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner 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
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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