Announcing the Return of CDFA's Fundamentals of Economic Development Finance Course
CDFA is proud to kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 25 and 26! This course will help attendees understand the variety of development finance tools available including bonds, tax credits, tax increment financing (TIF), federal financing programs, RLFs, Opportunity Zones, and access to capital lending resources.
JPMorgan Chase Commits $7.45M to Miami-Dade, FL Affordable Housing Push
JPMorgan Chase announced a commitment of $7.45 million to help increase the supply of climate-resilient affordable housing in Miami-Dade County, particularly in underserved neighborhoods. Nonprofits Miami Homes for All and Solar and Energy Loan Fund will share the funding. Miami Homes For All received a commitment of $4.45 million, while the energy loan fund will get $3 million.
Treasury Awards Louisiana Up to $113M to Support Small Business Growth Through SSBCI
The U.S. Treasury has approved Louisiana's application for up to $113 million in federal support for small business owners and entrepreneurs as part of the $10 billion State Small Business Credit Initiative (SSBCI). The majority of this allocation will be used for venture capital and seed programs. Disbursement of the full amount is dependent on hitting federal funding benchmarks for very small businesses and socially and economically disadvantaged individuals.
EPA Awards $105M to Oklahoma Water Infrastructure Improvements
The U.S. Environmental Protection Agency (EPA) has announced over $105M in Bipartisan Infrastructure Law (BIL) funding to the Oklahoma Department of Environmental Quality, Oklahoma Water Resources Board for water infrastructure improvements. The Oklahoma Drinking Water State Revolving Fund (DWSRF) capitalization grant is being awarded to the Oklahoma Department of Environmental Quality in the amount of $71M for its drinking water program.
New Daycare Facility in Brasher, NY Set to Receive $50K IDA Loan
A new daycare facility in Brasher is set to receive a $50,000 loan through the St. Lawrence County Industrial Development Agency. For the funding, $20,000 is slated to come from the LDC Microenterprise Revolving Loan Fund, with $30,000 set to come from the town of Brasher Microenterprise Revolving Loan Fund.
New Small-Business Loans Aimed at Northern Wisconsin
A Minnesota non-profit is expanding loans, grants, and consulting services to small businesses across much of northern Wisconsin. Entrepreneur Fund, of Duluth, says the effort has been fueled by $8 million from the state of Wisconsin initially aimed at seven northwest counties. Another five counties in the northern part of the state will be added by 2025, and five Native nations are included as well.
Cumberland County, PA Approves Additional $5.4M in ARPA Funding
The Cumberland County Housing & Redevelopment Authorities were allocated $500,000 in ARPA funds to address affordable housing and $250,000 for the creation of a land bank. The Cumberland Area Economic Development Corporation will receive $750,000 in recovery grants including $500,000 to reinstate a tourism product development grant program and $250,000 to develop a small business revolving loan fund program.
CDFA Food Systems Finance Best Practices Guidebook, Available Now!
Linking development finance and food systems can be a daunting undertaking for any community. Research on the current ecosystem of food systems finance has positioned CDFA to identify key strategies for the path ahead in this work. The Food Systems Finance Best Practices Guidebook defines how traditional development finance tools can be used to launch and expand food and agricultural-related businesses and projects and create successful food systems finance programs at the local and regional levels.
Black Business Investment Fund Inc. Receives $2M from Truist to Provide Capital for Small Businesses Across Central Florida
Truist Foundation and Truist Charitable Fund announced a $2 million grant to Black Business Investment Fund Inc. (BBIF), a community development financial institution built to foster the creation and expansion of Black businesses by providing loans, education, and training services. The grant will help create BBIF's Revolving Loan Fund that will provide loan capital for small business lending, targeting BIPOC and underserved small businesses across Central Florida.
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