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CDFA Revolving Loan Fund Finance Update - February 13, 2024

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Revolving Loan Funds Update
February 13, 2024
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Revolving Loan Fund Finance Update

Features

The CDFA Federal Policy Conference is back!
CDFA is excited to host the 2024 Federal Policy Conference on April 2-3 in Washington, D.C.! The conference will include sessions featuring the SSBCI, the 2024 Farm Bill, clean energy and infrastructure investments, the 2024 election, and much more. Join federal agency and development finance industry experts and leave with a better understanding of the tools, resources, and regulatory changes impacting the entire federal development finance spectrum. Register today!

Minnesota Farmers Union Foundation RLF to Support Meat and Poultry Processors
Minnesota Farmers Union Foundation has a total of $900,000 in revolving loan funds (RLF) to distribute to support small and medium-sized meat and poultry processors through the Meat and Poultry Intermediary Lending Program (MPILP). The MPILP offers low-interest loans for the startup, expansion, and operation of slaughter and further processing of meat and poultry. Loans of up to $100,000 are available at a 4% fixed interest rate with a term of up to 10 years.

Applications Now Open for the 2024 Caren S. Franzini Fellowship
The Caren S. Franzini Fellowship was created to develop and recognize outstanding women in the field of development finance for their leadership and dedication to the advancement of the industry. This 6-month fellowship program, run through the CDFA Foundation, is open to women employed by a CDFA member organization who have worked in the development finance industry for less than 10 years. Apply by Friday, March 15!

Lander, WY Secures $44.9M in Funding for Vital Infrastructure Upgrades
The City of Lander, Wyoming announces the successful acquisition of a combined $44.9 million in funding from the State Land Investment Board (SLIB), through the Clean Water State Revolving Fund Core Loan Program and the Drinking Water State Revolving Fund Core Loan Program. This funding will drive significant and needed water and sewer infrastructure enhancements and improve critical infrastructure with a very low interest rate.

Coming Up Next Month: CDFA's Intro and Advanced Bond Finance WebCourses
Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance WebCourse will take place on March 4-5 followed by the Advanced Bond Finance WebCourse on March 6-7. Register for one or both of these courses to learn from experts about how to bring economic growth to your community by utilizing the vast resources of the bond finance industry.

Grand County, UT Urges Entrepreneurs to Take Advantage of Revolving Loan Funds
The Grand County Economic Development Department is urging locals to reach out and use the Grand County Revolving Loan Fund Program to access affordable financing options. The program, driven by the Southeastern Association of Local Governments, aims to support local businesses to grow, remain financially sustainable, or simply get off the ground. Chosen businesses can access competitive, flexible interest rates on their loans with individualized repayment schedules.

Des Moines, IA Clean Water Fund to Offer Loans for Nonpoint Source Projects
The Des Moines, Iowa Clean Water State Revolving Fund (SRF) plans to offer 0% interest loans up to $500,000 to public entities for construction of nonpoint source projects. Funds will be awarded through a competitive application process, and applications will be accepted quarterly. Nonpoint source projects that meet a minimum score will be eligible for the loans. For projects greater than $500,000, costs over the amount eligible for 0% funding can be funded at the current SRF interest rate.

Hawaii Community Lending Receives $5M to Expand Affordable Housing RLF
Hawaii Community Lending (HCL) received a $5 million investment from the Stupski Foundation to expand the nonprofit's affordable housing fund focused on servicing native Hawaiians. HCL will pool the investment with other public and private capital to grow its revolving loan fund to $20 million. HCL is a nonprofit community development financial institution founded in 2014 that funds the affordable housing ecosystem in Hawaii from the homebuyer to the home builder to the homeowner.

$20M RLF Launched to Finance Land Access for Colorado Beginning Farmers, Ranchers
Colorado Governor Jared Polis's State Budget Proposal increases funding for the Colorado Department of Agriculture to be used towards some of their most influential projects and programs, including the Agricultural Workforce Development Program (AWDP). AWDP was established to encourage more young people to pursue careers in farming. The agency also launched a $20 million revolving loan fund (RLF) to help finance land access for beginning farmers and ranchers.

Upcoming Events
Intro Bond Finance WebCourse

CDFA // BNY Mellon Development Finance Webcast Series: Economic Development & Bond Finance
February 20, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will share how communities can use bonds in conjunction with tax increment financing, federal legislative programs, and other development financing tools for an array of projects.

CDFA Food Systems Finance Webinar Series: Exploring Bonds as the Foundational Financing Tool
February 27, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, speakers will explore the potential for leveraging this foundational financing tool to cultivate resilient and thriving local and regional food systems.

Headlines

$20M RLF Adopted by Colorado to Help the Next Generation of Farmers
The Colorado Sun | Jan. 31 | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs)

Bristol, CT Launches Forgivable RLF for Small Businesses in the City
Hartford Business | Jan. 31 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs)

State RLF Funds Drinking Water Study in Hinesburg, VT
Vermont's Own WCAX | Jan. 28 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Alaska's CROP ACT Includes Improvements to the Agriculture RLF
Office of Governor Mike Dunleavy | Jan. 26 | Food Systems Finance | Revolving Loan Funds (RLFs) | Rural Development

New Winery Coming to Butler, PA Thanks to Housing Redevelopment Assistance RLF
Butler Radio | Jan. 26 | Access to Capital | Redevelopment | Revolving Loan Funds (RLFs)

Grocery Turns Former Wisconsin Club into International Food Hub
The Cap Times | Jan. 26 | Access to Capital | Food Systems Finance | Local Finance Program | Revolving Loan Funds (RLFs) | Social Finance

Quincy, IL RLF to Help Fund Extensive Renovations to the Dick Brothers Brewery Complex
Herald-Whig | Jan. 22 | Access to Capital | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs)

Eastern Iowa Light and Power Cooperative RLF to Finance Health Care Facility in Muscatine
FIOR Reports | Jan. 21 | Community Development | Healthcare | Revolving Loan Funds (RLFs)

Henry County, IL Rural RLF to Support a $1.6M Agricultural and Industrial Equipment Project
Quad-City Times | Jan. 20 | Agriculture Finance | Economic Development | Revolving Loan Funds (RLFs)

City Will Run RLF for Downtown Corvallis, OR Businesses
Corvallis Gazette Times | Jan. 19 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs)

New RLF Supports Meat Processing Upgrades in South Dakota
KOTA Territory ABC | Jan. 18 | Access to Capital | Food Systems Finance | Revolving Loan Funds (RLFs)

Florida Senate Approves $50M RLF for Health Innovation Efforts
Orlando Sentinel | Jan. 18 | Economic Development | Healthcare | Revolving Loan Funds (RLFs)

New Program Will Help Underserved Farmers Apply for FSA Loans
WSU Insider | Jan. 17 | Access to Capital | Agriculture Finance | Federal | Revolving Loan Funds (RLFs) | Social Finance | U.S. Dept. of Agriculture (USDA)

Florida Launches Revolving Loan Program for Farmers Affected by Hurricane Idalia
Tallahassee Democrat | Jan. 16 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Revolving Loan Funds (RLFs)

$15M from Rhode Island Drinking Water State RLF to Finance Water Meter Replacements
Providence Business News | Jan. 15 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance



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

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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