EDA has released their final rule in response to the 103 comments received on the proposed rules from November, 2016. The new rules will go into effect on January 2, 2018.

EDA has released a notice of proposed performance measures and request for comments. This document explains the performance measures in detail. Comments will be accepted through the Federal Register for document 2017-25276 until January 2, 2018.

Franklin County received around 1,500 acres from the army in the 1990's which it later sold to capitalize a revolving loan fund to support economic development in the county. "We netted between $1 and $1.5 million and have been able to loan that money to businesses across the county," says Mike Ross, executive director of the Franklin County Area Development Corporation.

Two loans have been secured for the site. One would be a 20-year, zero-percent-interest loan from the Indiana Brownfields Program's Revolving Loan Fund. The second would be a 20-year, 2-percent-interest loan from the State Revolving Fund for demolition of the buildings.

Grassroots Local Market says it's ready to build after it got the funding to move forward with construction. They got an approval of a $200,000 loan through the Lynchburg Economic Development Authority's Revolving Loan Fund and secured the funding necessary to build their cooperatively owned grocery store.

After two downtown tax increment financing districts closed, the city had about $50,000 left over. The money was used to open the revolving loan fund, and five local banks donated to bring the total up to $100,000. Residents can use the fund for low-interest loans to spruce up their properties.

In the 15 years since the Minnesota Investment Fund dollars were first used, the city made one additional loan. After a vote, the council entered into an agreement for a local development organization with BLAEDC. Administration of the $436,500 will move to BLAEDC and the Unified Fund with the goal of improving the use of the funds.

The Whitestown Town Council has appropriated $50,000 for the new revolving fund program, which will provide loans of up to $10,000 to town businesses in an attempt to improve infrastructure and foster economic development.

Up to $10,000 in "Fix Up, Clean Up, Paint Up" grants will be awarded to Fort Pierre, South Dakota businesses early next year by the Fort Pierre Development Corporation. Both geography and type of project will be considered when determining award winners.

The Buffalo County Economic Development Committee re-activated a revolving-loan-fund to help promote growth and new jobs. The county has an estimated $375,000 in an account that was set-up with seed money from a government community development block grant administered by the State of Wisconsin.

CDFA // BNY Mellon Webcast Series: Crowdfunding Small Business Development
December 19, 2017 - 1:00 PM Eastern

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