Revolving Loan Fund Week is coming up next month, with the Intro Revolving Loan Fund Course on May 1-2 followed by the Advanced Revolving Loan Fund Course on May 3-4. Register for one or both of these courses to learn from experts about developing, implementing, and managing revolving loan fund programs that are efficient and impactful.

Arkansas-based nonprofit Alliance for Rural Impact (ARI) recently unveiled the Rural Impact Fund, a revolving loan fund with a focus on lending to diverse small businesses, micro-enterprises, and entrepreneurs in rural communities. The new loan fund targets projects which result in the creation or retention of quality high-paying jobs and improvement of quality of life in the Mississippi Delta region. ARI will provide recipients with expertise in helping businesses achieve innovative technical assistance.

Florida Senate President Kathleen Passidomo recently highlighted elements of the Senate's proposed budget and other legislative efforts totaling $3 billion that have aided in hurricane relief across the state. This includes making the Local Government Emergency Bridge Loan Program a revolving program and authorizing the federal Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act, a revolving loan program for local government hazard mitigation projects.

Legislation filed by Rep. June Speakman, D-Bristol, would establish a $50-million revolving fund to finance the development of mixed-income public housing. House Bill 6168, would allow Rhode Island's new Department of Housing to issue $50 million in bonds to establish a housing production revolving fund.

Managed by Michigan Women Forward, the Michigan Economic Opportunity Fund is a microbusiness loan program funded by the Michigan Economic Development Corporation, Huntington Bank, and the Ballmer Group. Entrepreneurs from historically disadvantaged communities, including minority-, women- and veteran-owned small businesses, can apply for up to $50,000 in loans through this program.

The Illinois Finance Authority (IFA), in its role as the State Climate Bank, today announced a landmark year of deploying over $250 million in private capital to further clean and sustainable development projects. Additionally, the IFA Climate Bank is holding public hearings and stakeholder meetings as it crafts applications for up to $1.3 billion in federal funds to advance clean energy, climate, and equity goals as outlined by Illinois' Climate and Equitable Jobs Act (CEJA) through climate finance and program deployment.

The city has formed an Economic Justice Accelerator, a fund designed to leverage public funding, private equity, and philanthropic investment to continue the economic justice action plan beyond the 2026 deadline when all $150 million from the federal government will have been spent. Counting city commitments, the economic justice action plan currently has $246 million attached to it.

Legislation to establish a Community Hazard Assistance Mitigation Program (CHAMP) Revolving Loan Fund in the New Jersey Infrastructure Bank (NJIB) and authorize the issuance of bonds to fund certain hazard mitigation and resilience projects was released by the Senate Budget and Appropriations Committee.

CDFA Food Systems Finance Webinar Series: Access to Capital Tools & Food Systems
April 25, 2023 - 2:00 PM - 3:30 PM Eastern

2023 Equitable Lending Learning Series: Evaluating Risk
May 23, 2023 - 1:00 PM - 4:00 PM Eastern

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The American Rescue Plan has helped to power one of the strongest and most equitable recoveries on record while making investments that position our nation for economic success in the coming decades. Over the last year, American Rescue Plan programs administered by Treasury continued to make a significant difference in the lives of millions of Americans and contribute to the strengthening of local communities and an expansion of economic opportunities.

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