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CDFA Revolving Loan Fund Finance Update - February 9, 2021

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Revolving Loan Funds Update
February 9, 2021
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Revolving Loan Fund Finance Update

Features

CDFA-EDA Revolving Loan Fund Best Practices Handbook
Throughout the CDFA EDA RLF Best Practices Program, several common characteristics emerged from high performing RLFs. The best practices outlined in this guide synthesize these exceptional traits and address the strategies employed by successful EDA RLFs of all sizes. Each recommendation includes a basic description and several resources for expanded learning. This RLF Best Practices Handbook serves as an overview of the best practices that EDA RLF recipients should consider to maximize their lending capacity, support local businesses, and enhance the economic development financing ecosystem in their community.

CDFA Releases Policy Priorities for the Biden-Harris Administration
The Council of Development Finance Agencies (CDFA) is pleased to announce the release of Development Finance Solutions for Building Back Better: Policy Priorities for the Biden-Harris Administration. Built in collaboration with development finance agencies across the country and several key advocacy partners, this paper provides a roadmap for the new administration to use development finance solutions to address the numerous interconnected challenges facing the U.S. economy.

VCC Receives $1.5M from Wells Fargo Open for Business Fund to Support Diverse Small Businesses
Wells Fargo has selected Virginia Community Capital (VCC) to help underserved small businesses stay open and save jobs in Richmond. The $1.5 million in funding will aid the organization's short- and long-term COVID-19 recovery efforts, technical assistance, and lending programs for diverse small business owners.

Arizona Community Foundation and USDA Announce Development Partnership Serving Rural Arizona
The Arizona Community Foundation (ACF) and the U.S. Department of Agriculture Rural Development have launched a public-private partnership to support rural Arizona. ACF will provide $5 million in a revolving line of below-market rate financing to help rural communities access approximately $40 million annually in USDA funding for infrastructure projects that will improve water systems, schools, affordable housing, firehouses, parks, and related needs.

Harris, Yellen Work with Black Business Leaders on Recovery plan
Vice President Kamala Harris and Treasury Secretary Janet Yellen recently discussed how the Biden administration's American Rescue Plan could help Black small business owners recover from the financial devastation they've endured since the pandemic began in March.

EPA Announces Over $72M for Clean Water Projects in Texas
The U.S. Environmental Protection Agency (EPA) recently awarded the Texas Water Development Board $72,632,000 to provide low-interest loans to fund clean water projects in Texas. EPA provides the grant under the Clean Water Act's Clean Water State Revolving Fund, a federal-state partnership that provides communities low-cost financing for a wide range of water quality infrastructure projects.

Downtown Economic Development Incentive Fund Relaunches in Brookings, SD
The Downtown Brookings Business District Committee has relaunched the Downtown Economic Development Incentive Fund (DEDIF). The purpose of the DEDIF Loan Program is to stimulate private investment in downtown Brookings by lending funds to downtown property owners for the purpose of exterior streetside real estate improvements, repairs, and historical preservation.

West Virginia Investment, Economic Development Interest Soars Amid Pandemic
The ongoing COVID-19 pandemic has not slowed down interest in investing in West Virginia. In fact, according to officials with the West Virginia Economic Development Authority, the state has seen an uptick in economic development activity over the past year.

Upcoming Events
CDFA Federal Financing Webinar Series: Expanding Capital Access to Preserve Small Businesses

CDFA Food Systems Finance Webinar Series: Financing Food-Centered Redevelopment
Tuesday, April 13, 2021 - 2:00 PM - 3:30 PM Eastern
Food is a critical component of local economies. How food-related businesses and infrastructure – such as local restaurants, farmers markets, kitchen incubators, aggregation facilities – among others are incorporated into community development plans and large projects can significantly impact the entire community and beyond. During this installment of the CDFA Food Systems Finance Webinar Series, we will explore how investing in food-centered redevelopment can restore local food systems infrastructure, catalyze additional neighborhood development, and protect healthy, sustainable communities.

CDFA-TEDC Webinar: Putting RLFs to Work: Focusing on Access to Capital for Small & Minority-Owned Businesses
Tuesday, April 27, 2021 - 1:00 PM - 2:30 PM Central
Join CDFA, in partnership with the Texas Economic Development Council, for the CDFA-TEDC Webinar: Putting Revolving Loan Funds to Work: Focusing on Access to Capital for Small & Minority-Owned Businesses. Connect with development finance experts from around the state for an exclusive, 90 minute-long webinar discussion focused on practical guidance for RLFs aiming to expand access to capital for small and minority-owned businesses.

Headlines

Water Infrastructure — the Unmet Needs of Low-Income Communities
The Hill | Feb. 8 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Social Finance | Water Finance | Water Finance

Florida A&M University Credit Union Announces $1M Microloan Program for Women, Minority Business Owners
WCTV | Feb. 7 | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | COVID-19

EDA RLF Among COVID Business Resources Available in McKean County, PA
The Bradford Era | Feb. 3 | Disaster Recovery & Relief | Federal | Revolving Loan Funds (RLFs) | U.S. Economic Development Administration (EDA) | COVID-19 | EDA Revolving Loan Fund Grant Program

Five Small Businesses Seeing Relief with Loans Through the City of Charleston
NBC | Feb. 2 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | COVID-19

Gov. Lee, TDEC Announce $20.2M in Loans for Smyrna, TN Water Improvements
State of Tennessee | Feb. 1 | Revolving Loan Funds (RLFs) | Water Finance

Money Still Available in Charleston, SC Loan Fund to Help Businesses, Mayor Says
WCSC | Feb. 1 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | COVID-19

Ohio EPA Awards $15M in Financing to Southeast Ohio Communities
My Daily Tribune | Jan. 29 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | State Revolving Fund

California Budget Proposal Highlights Climate Resiliency as Major Priority
AgNet West | Jan. 29 | Energy Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Resiliency

Small Ohio Businesses Find Support During Pandemic
The Courier | Jan. 29 | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | COVID-19

Junior Ag Loans Available Through Montana Department of Agriculture
Sidney Herald | Jan. 28 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | State Finance Program

How Minority and Women-Owned Small Businesses Can Access Capital
HBCU Coalition | Jan. 27 | Access to Capital | Revolving Loan Funds (RLFs) | U.S. Small Business Administration (SBA)

Georgia Counties Receive $121M in Waterworks Project Loans
Valdosta Today | Jan. 25 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | Water Finance

Arizona Community Foundation and USDA Announce a Development Partnership Serving Rural Arizona
Sedona Biz | Jan. 19 | Revolving Loan Funds (RLFs) | Rural Development

Five of the Best Farm Loans in 2021
Treehugger | Jan. 15 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

Hundreds of Millions in Funding Still Available for Michigan Wastewater Projects
MLive | Jan. 12 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | Water Finance | State Revolving Fund


New Additions to the Online Resource Database

Tactical Guide: Inclusive Small Business Support Strategies
Access to Capital | Revolving Loan Funds (RLFs) | Social Finance
This tactical guide is designed to help city economic development leaders support minority- and women-owned (MWBE) and low-to-moderate income (LMI) small businesses in their communities by providing case-tested programs and strategies that can be pursued immediately. It outlines the challenges facing these small businesses, the importance of supporting their recovery, and some key principles to guide policies and programming. It includes 16 recommended actions, grouped into four categories. These recommendations are backed by practical case studies from across the US, step-by-step guides, resources to accelerate implementation, and metrics to measure long-term impact.


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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