The First CDFA Charter Schools Financing Initiative Paper Is Here! Development Finance Strategies for Charter Schools
CDFA has released the first publication of the CDFA Charter Schools Financing Initiative series, funded with support from the National Alliance For Public Charter Schools. This paper demonstrates how charter schools can access development finance tools and provides real-world examples of how these tools resources have been successfully implemented across the nation.
New CDFA White Paper Released! Reframe, Build, and Plan to Restore America's Local Food Systems
CDFA just released the sixth and final publication of the CDFA Food Finance White Paper Series, Advancing Local Food Systems Through Development Finance! Research on food systems finance and leadership with pilot projects has positioned CDFA to identify three key strategies for a comprehensive approach for restoring America's local food systems. Every organization, community, economic development agency, and small business working in the food sector should adopt the Reframe, Build, Plan approach to expand financing and drive capital into the local food system.
CDFI Fund Awards $204.1M to Support Economic Growth in Low-Income, Distressed, and Native Communities
The Community Development Financial Institutions Fund has doled out $204.1 million in awards to 397 CDFIs. The awards, through the fiscal year 2020 round of the CDFI Program and the Native American CDFI Assistance Program, will enable CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation.
A Mission-Minded Loan Source That Doesn't Care if You're a Startup With No Experience, Revenues, or Credit
CDFIs, like the Colorado Enterprise Fund, provide underserved communities with capital when banks say no. The niche is attracting investors seeking impact, including Google and Netflix. They exist as part of a government effort to encourage banks and lenders to invest in their local communities and provide credit to those in lower-income neighborhoods.
Strict Rules Keep Business Out of New Mexico Loan Program
Only about $20 million of a $400 million loan program for New Mexico small businesses hit by the pandemic has been approved to send out since the program began in August, according to the state agency running the program. Fewer than 900 businesses have applied for loans under the program, which range from $500 to $75,000.
CDFI Fund Awards $825K to Community Developer Cinnaire
The CDFI Fund awarded Cinnaire $825,750 in grants through the 2020 round of the federal program. Cinnaire is committed to delivering a range of flexible, competitive loan products to meet the needs of communities of color and to ensure equitable access to resources to support healthy, vibrant communities.
Huntington Bank Takes Top Spot Nationally For SBA 7(a) Loan Origination By Volume For Third Consecutive Year
Huntington is the nation's largest originator, by volume, of Small Business Administration (SBA) 7(a) loans for the third consecutive year at the close of SBA fiscal year 2020, further strengthening its position as the leader in supporting small businesses. This also marks the 12th year in a row Huntington has been the largest originator, by volume, of SBA 7(a) loans within its footprint.
504 Loan Program Assists Nation's Small Businesses with Record $1.28B Funding in September
The Small Business Administration's 504 Loan Program completed its largest monthly funding of loans in the program's 34-year history, including 1,462 loans for $1,284,274,000 – more than double the previous record set in September 2012. Historic levels of 504 loan closings and fundings were driven by record-low interest rates and debt relief provided by the CARES Act.