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CDFA Revolving Loan Fund Finance Update - June 13, 2023

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Revolving Loan Funds Update
June 13, 2023
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Revolving Loan Fund Finance Update

Features

Next in the Equitable Lending Learning Series: Fund Capitalization
The CDFA Equitable Lending Learning Series provides in-depth instruction to small business lenders on loan fund policies, lending processes, and other practices that remove barriers to capital and proactively advance economic justice. Register now to join CDFA, Lendistry, and The Center by Lendistry on Tuesday, June 27 at 1-4 PM Eastern for a discussion on key considerations and best practices for identifying, securing, and managing funds that can establish and grow equitable lending programs.

White House Launches Site Highlighting President's Investing in American Agenda
The White House launched Invest.gov, a website showing the public and private sector investments President Biden's Investing in America agenda is bringing to America. Invest.gov features an interactive map showing infrastructure projects underway that are funded by President Biden's Bipartisan Infrastructure Law as well as private sector investments mobilized by the Inflation Reduction Act, the CHIPS and Science Act, the Bipartisan Infrastructure Law, and the American Rescue Plan.

Join CDFA for Our Upcoming Intro Tax Increment Finance Course
Register for CDFA's Intro Tax Increment Finance (TIF) Course taking place on June 14-15 to learn the guiding principles and appropriate application of TIF. Our panel of expert speakers will discuss TIF deal-making and best practices highlighted by projects from around the country.

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.

EPA Announces $315M for Cleanup, Technical Assistance at Brownfield Sites
The U.S. Environmental Protection Agency (EPA) has announced more than $315 million through the Investing in America Agenda to expedite the assessment and cleanup of brownfield sites. EPA selected 262 communities to receive 267 grants totaling more than $215 million in competitive EPA Brownfields funding through the Multipurpose, Assessment, Revolving Loan Fund, and Cleanup Grant programs.

USDA Rural Development Invests in Wisconsin Multifamily Housing Projects
The U.S. Department of Agriculture (USDA) Wisconsin Rural Development State Director joined representatives of Wisconsin Management Company, Inc., and others at a grand re-opening to celebrate improvements made to Cuba City Apartments, Cuba City, and Summit Apartments, Barneveld. Funds for improvements came from Wisconsin's Low Income Housing Tax Credit and its Multifamily Preservation Loan and Preservation Revolving Loan Fund.

San Francisco, CA Receives $369M in WIFIA Loans for Stormwater Infrastructure
The U.S. Environmental Protection Agency (EPA) awarded a $369 million loan under Water Infrastructure Finance and Innovation Act (WIFIA) to San Francisco to improve the city's stormwater infrastructure, which could expand to $791 million in the future. City public utility officials said the money will help mitigate flooding in low-lying areas and replace aging equipment prone to damage amid a changing climate and save the city a reported $110 million in renovation costs.

California Awards $39M for Communities to Build Industries of the Future
Governor Gavin Newsom announced $39 million in state funding going to economic development projects across the state that support California's transition to a low-carbon, green growth future through the Community Economic Resilience Fund. Included in this is $5 million for the PACE Green Loan Fund, a revolving loan fund with loans ranging from $25,000 to $500,000 to provide entrepreneurs with working capital and/or growth with particular focus on providing high-quality jobs, reducing economic inequality and addressing the climate crisis in the Los Angeles region.

Maryland Pledges $15M in SSBCI Funds to Lendistry
Maryland announced a $15 million commitment to minority-led small business lender Lendistry to provide relief to small businesses. The commitment is the latest investment through the State Small Business Credit Initiative. Lendistry will be able to lend up to $250,000 to small businesses that are owned and operated by socially and economically disadvantaged individuals; very small businesses; or are in Community Development Financial Institutions Investment Areas.

Upcoming Events
CDFA Virtual Summer School

SSBCI Learning Series - Emerging Models and Best Practices for Delivering Technical Assistance
June 22, 2023 - 2:00 PM - 4:00 PM Eastern
To date, Treasury has allocated $200 million in potential funding to states, U.S. Territories, and Tribal Governments, and another $100 million to the Minority Business Development Agency for its Capital Readiness Program. During the third module of the 2023 SSBCI Learning Series, speakers will provide insights on best practices for delivering TA to micro-enterprises and SEDI businesses and discuss current efforts to deploy funding made available through Treasury's SSBCI Technical Assistance Grant Program.

2023 Equitable Lending Learning Series: Fund Capitalization
June 27, 2023 - 1:00 PM - 4:00 PM Eastern
During this event in the Equitable Lending Learning Series, speakers will discuss how loan funds are traditionally capitalized, provide best practices for establishing and growing loan funds, and share examples of programs that offer an evergreen source of capital to their community.

Headlines

Warren, OH Planning Disbursement of $28M ARPA Funds, Seeding RLF
Tribune Chronicle | Jun. 9 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | COVID-19

Office of Hawaiian Affairs Announces New Loan for Farmers
The Business Journals | Jun. 6 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | Resiliency

EPA Awards $500K for Cleanup, Revitalization of Abandoned Properties in North Dakota
U.S. Environmental Protection Agency | May. 30 | Brownfield Financing | Revolving Loan Funds (RLFs)

Ventura, CA Receives $173M in WIFIA Loans for Water Infrastructure
U.S. Environmental Protection Agency | May. 30 | Access to Capital | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance | WIFIA

Delaware County, PA Announces $1M Grant for Brownfield Revolving Loan Fund
Delaware County, PA | May. 30 | Access to Capital | Brownfield Financing | Federal | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | EPA Revolving Loan Fund Grants | EPA Revolving Loan Fund Grants

Keene, NH Receives $1M to Fund Brownfield Cleanup RLF
New Hampshire Business Review | May. 30 | Brownfield Financing | Community Development | Redevelopment | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

$4M in SSBCI Funds Used to Seed Revolving Loan Fund in Iowa
Altoona Mirror | May. 29 | Access to Capital | Disaster Recovery & Relief | Legislative | Revolving Loan Funds (RLFs) | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | COVID-19

EPA Provides $11M in Brownfields Funding for 7 Alaska Projects
KINY Radio | May. 25 | Access to Capital | Brownfield Financing | Legislative | Revolving Loan Funds (RLFs) | Rural Development | U.S. Environmental Protection Agency (EPA) | Legislative Activities

Farmers Business Network Finance Launches Instant Approval for Land Loans
AgFax | May. 25 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs)

Cleveland, OH Approves $15M for Revitalization Plan, New RLF for Southeast Side
News 5 | May. 23 | Access to Capital | Community Development | Housing Finance | Revolving Loan Funds (RLFs)

Bills to Provide $2B in Low-Interest Loans for Clean Water Infrastructure Advance
EIN News Desk | May. 22 | Green Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Resiliency | Water Finance | Water Finance

USDA Announces $11M in Funding for Two New Rural Kentucky Projects
The Lexington Times | May. 22 | Access to Capital | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA)

FEMA Invests $160M for Climate and Disaster Resiliency Infrastructure Nationwide
FEMA | May. 19 | Access to Capital | Federal | Green Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Resiliency | Water Finance | Legislative Activities

Columbus, NE Receives $1M for Rural Workforce Housing Fund
News Press Now | May. 19 | Access to Capital | Housing Finance | Revolving Loan Funds (RLFs) | Rural Development


New Additions to the Online Resource Database

Funding Sources for Food-Related Businesses, Eighth Edition
Access to Capital | Agriculture Finance | Crowdfunding | Federal | Food Systems Finance | Innovation Finance | Revolving Loan Funds (RLFs) | Rural Development | State Finance Program
Funding Sources for Food-Related Businesses includes sources of local, regional, and national finance opportunities that may be available to producers, distributors, food hubs, and food-related businesses. Initially informed by a list of funding resources for food-related businesses found on the Food+Tech Connect website, a media and research company building a network for food innovators and entrepreneurs, this listing has been expanded and updated by the Michigan State University Center for Regional Food Systems to help support local food systems.


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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