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CDFA Revolving Loan Fund Finance Update - July 11, 2023

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Revolving Loan Funds Update
July 11, 2023
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Revolving Loan Fund Finance Update

Features

Mark Your Calendar for the 2023 CDFA Virtual Summer School!
Join us August 7-15 for a series of courses presented by the CDFA Training Institute. CDFA Virtual Summer School will offer five different training courses, all held online. Learn from our expert practitioners and experience CDFA's most interactive educational event of the year – all from the comfort of your home or office! All CDFA Virtual Summer School courses qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program.

Philadelphia, PA Nonprofit to Help Small Businesses Buy Property
The Enterprise Center, a Philadelphia-based nonprofit organization that helps promote small business development, has a new $500,000 revolving loan pool for minority-owned companies. The goal is to increase building ownership along commercial corridors — which enables small businesses to build equity instead of renting, and helps stabilize neighborhoods. The short-term loans will cover up to 75% of business expenses related to due diligence, which includes things like attorney fees, closing costs, or even building appraisals.

CDFA to Build Greenhouse Gas Reduction Fund Coalition
CDFA is building a national coalition to apply for the Greenhouse Gas Reduction Fund's Clean Communities Investment Accelerator and hosted an informational briefing on how it's building that coalition. Join today!

$4.6M Announced for Cleanup, Technical Assistance at Polluted Brownfield Sites in Ohio
The U.S. Environmental Protection Agency (EPA) recently announced more than $4.6 million from President Biden's Investing in America Agenda to expedite the assessment and cleanup of brownfield sites in Ohio while advancing environmental justice. EPA selected eight communities in Ohio to receive eight grants totaling more than $4.6 million in competitive EPA Brownfields funding through the Multipurpose, Assessment, Revolving Loan Fund, and Cleanup (MARC) Grant programs.

Learn About Equitable Underwriting Strategies with CDFA and Lendistry
Join the CDFA Equitable Lending Learning Series on Tuesday, July 25 for a discussion on how lenders are developing and implementing new underwriting policies to help reach more borrowers and strengthen their financial health over time. The event will also include program examples of loan funds using alternative underwriting approaches to improve access to capital among underserved borrowers.

Spartanburg, SC Launches $10M Loan Program for Small and Minority-Owned Businesses
OneSpartanburg Inc. announced it has launched Power Up: Funding, a program funded by Spartanburg County Council that provides small and minority businesses with access to capital through exclusive loan and grant offerings. Created through strategic partnerships with Carolina Foothills Federal Credit Union, the CLIMB Fund, and the National Development Council, the program includes a $10 million loan pool and $665,000 in grant funds.

Arkansas Cities to Receive $700M in Loans for Water, Sewer Projects
The cities of Decatur and Highfill were among the recipients of loan funding from the Arkansas Department of Agriculture's Natural Resources Commission (ANRC). The ANRC approved $702,318,258 in funding for 122 water and wastewater projects serving more than 1,253,000 Arkansans, the largest allocation of funds awarded for water and wastewater in the state of Arkansas to date.

Wisconsin Gov. Evers Signs Bipartisan Package of Affordable Housing Legislation
Gov. Tony Evers recently signed five bipartisan bills to help expand access to safe, affordable housing for working families through revolving loan funds. This includes RLFs for residential housing infrastructure, main street housing rehabilitation, workforce housing, and commercial-to-residential conversion projects.

Upcoming Events
CDFA Virtual Summer School

CDFA Tribal Finance Webinar Series: Food System Financing on Tribal Lands
July 11, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, panelists will explore how tribal governments are cultivating local food systems with financing solutions that support economic growth and advance community health.

2023 Equitable Lending Learning Series: Underwriting Strategies
July 25, 2023 - 1:00 PM - 4:00 PM Eastern
During this event in the Equitable Lending Learning Series, speakers will provide an overview on the history of underwriting approaches, discuss technical strategies and best practices for developing and implementing new underwriting policies, and share examples for how these alternatives can increase access to capital for underserved borrowers.

Headlines

Financial Assistance for USDA Farm Loan Borrowers Who Have Faced Discrimination
USDA | Jul. 7 | Access to Capital | Agriculture Finance | Federal | Revolving Loan Funds (RLFs) | Social Finance | U.S. Dept. of Agriculture (USDA)

Connecticut Bond Commission Set to Approve $340.2M for Redevelopment Projects
HBJ | Jul. 5 | Bond Finance | Community Development | Economic Development | Housing Finance | Infrastructure Finance | Redevelopment | Revolving Loan Funds (RLFs)

Butler County, OH Port Authority Aims to Develop Economic Development Strategic Plan
Journal-News | Jul. 5 | Bond Finance | Community Development | Economic Development | Energy Finance | Incentives | Property Assessed Clean Energy (PACE) | Revolving Loan Funds (RLFs)

How to Build a Bank to Scale Up Local Food Ecosystems
Next City | Jul. 5 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs)

Wisconsin Budget Might Improve Farm and Business Borrowing
Brownfield Ag News | Jul. 3 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

$22.2M Awarded in Louisville, KY for Affordable Housing
Louisville Business First | Jun. 30 | Access to Capital | Community Development | Housing Finance | Revolving Loan Funds (RLFs)

Indiana to Receive $15M from USDA for Independent Meat Production Expansion
Hoosier Ag Today | Jun. 29 | Access to Capital | Food Systems Finance | Revolving Loan Funds (RLFs) | State Finance Program | U.S. Dept. of Agriculture (USDA)

Delaware State Senate Approves $1.4B Capital Budget
WDEL | Jun. 28 | Access to Capital | Community Development | Economic Development | Education | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Adams County, PA Seeks to Spark Small Businesses with Loan Program
Central Penn Business Journal | Jun. 27 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs)

U.S. EPA Grant to Cleanup Brownfields in Savannah, GA
WSAV-TV | Jun. 23 | Brownfield Financing | Community Development | Redevelopment | Revolving Loan Funds (RLFs)

Revolving Loan Program Reopened in Watertown, WI
Watertown Daily Times | Jun. 23 | Access to Capital | Economic Development | Historic Preservation | Housing Finance | Revolving Loan Funds (RLFs)

Infrastructure Bank Closes on $77M Green Bond for Rhode Island Water Projects
PBN | Jun. 20 | Bond Finance | Green Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

New Native Financing Institution to Increase Access to Capital for Farmers and Ranchers
High Plains Journal | Jun. 19 | Access to Capital | Agriculture Finance | Community Development | Revolving Loan Funds (RLFs) | Rural Development | Tribal Finance | U.S. Dept. of Agriculture (USDA)

$4.3M for Agricultural Projects Across Kentucky Commonwealth
The Lane Report | Jun. 16 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

Dallas, TX Receives $1.5M for Brownfield Sites Cleanup
U.S. EPA | Jun. 16 | Brownfield Financing | Community Development | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)



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

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