Mayor Jorge O. Elorza today announced the Providence Business Loan Fund received $836,000 in additional resources from the Economic Development Administration through the CARES Act Recovery Assistance grant program to administer emergency loans for local small businesses affected by COVID-19.

the Boston Local Development Corporation has received a $693,000 CARES Act Recovery Assistance grant from the U.S. Department of Commerce's Economic Development Administration (EDA) to capitalize and administer a Revolving Loan Fund (RLF) to provide loans to coronavirus-impacted small businesses in Boston.

Gov. Steve Bullock announced on Thursday a new loan program to spur economic recovery in the wake of the coronavirus, as applications for unemployment assistance increased in Montana for the third consecutive week.

E8, an angel investor community committed to cleantech for both profit and ecological sustainability, announced today that its new Decarbon8-US (D8) philanthropic impact fund will make its first equity investments in three startups that will boost electric vehicle adoption, carbon capture and hydrogen fuel infrastructure.

A Kansas State University agricultural economist says that non-traditional lenders are becoming a bigger part of doing business in farm country. The majority of farmers use farm credit lenders and commercial banks to finance purchases of land, equipment, crop insurance, or other expenses. But there are three categories of lenders that producers are now turning to as alternatives.

Now economists fear that the economic shock of coronavirus will prove ruinous for tens of thousands of mom-and-pops, with dire consequences for not only the businesses affected but also the independent, entrepreneurial streak that is hard-wired into the nation's psyche.

Rende Progress Capital is deploying the first five loans in its RACE4Progress Loan Fund for entrepreneurs of color impacted by COVID-19. The Grand Rapids-based racial equity lender said that it immediately began processing applicants, approving funds, and deploying relief loans from its RACE4Progress fund established in June, which provides progressive, low-interest loans and a flexible application process for Kent County's "excluded entrepreneurs."

U.S. Representative Abigail Spanberger — Chair of the U.S. House Agriculture Committee's Subcommittee on Conservation and Forestry — announced the introduction of her legislation to establish a "Soil Health Transition Loan Program" at the U.S. Department of Agriculture (USDA) to support farmers and producers looking to start or strengthen existing conservation efforts on their farms.

CDFA // BNY Mellon Development Finance Webcast Series: Understanding The Municipal Liquidity Facility
Tuesday, September 15, 2020 - 1:00 PM Eastern

CDFA-Bricker PACE Webinar Series: PACE Program Capitalization
Tuesday, September 22, 2020 - 11:00 AM - 1:00 PM Eastern

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There are several existing agricultural lender initiatives that can inform the development of lending programs or products for resilient agriculture. This report derives five key lessons from these initiatives, including the need to understand the financial benefits of and barriers to resilient agricultural practices, design loan structures and requirements that correspond with the financial characteristics of those practices, utilize loan support to launch initial products, collect data on financial and environmental performance to show results and adjust credit rating processes, and consider other forms of support farmers may need to ensure successful practice adoption.

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