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CDFA Revolving Loan Fund Finance Update - August 9, 2022

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Revolving Loan Funds Update
August 9, 2022
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Revolving Loan Fund Finance Update

Features

The CDFA Ohio Financing Roundtable is Back!
Join CDFA on September 14, 2022, in Columbus, Ohio for a one-day conference to share best practices within the development finance industry. Experts from across the state will discuss the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward. If you have a stake in Ohio's economic development finance industry, you won't want to miss this event. Space is limited, register today!

EPA Grants Tucson, AZ $1M Through Brownfields Cleanup Revolving Loan Fund
The Environmental Protection Agency (EPA) has granted the City of Tucson $1 million through a Brownfields Cleanup Revolving Loan Fund. This will allow the city to provide six loans and two subgrants, which would revolve back into a fund supporting future Brownfields cleanups.

Join CDFA's EC-Tech Initiative to Unlock Capital for Minority-Owned Businesses
CDFA's new EC-Tech (Equitable Capital Technology) Initiative offers a comprehensive solution pairing technology with technical assistance for development finance agencies working to implement stronger lending programs for minority business owners. All direct lenders with a commitment to increasing access to capital for minority businesses are encouraged to apply!

ARPA Funds Assist Wilmington, DE Businesses in Obtaining Loans for Start-up Expansion
City of Wilmington America Rescue Plan Act funds (ARPA) are helping Cornerstone West CDC and its partners increase their efforts to eliminate racial disparities in borrowing which severely affect the ability of Black-owned City businesses to receive loans for business start-up or expansion.

Chatham County, NC Allocates $789M in Funding for Drinking Water and Wastewater Projects
North Carolina Governor Roy Cooper has announced that communities statewide will receive a record $789.4 million in water and wastewater infrastructure funding to help pay for 385 projects statewide, including 140 construction projects. Funding comes from American Rescue Plan Act (ARPA) funds and Drinking Water and Clean Water State Revolving Funds, as well as from state budget appropriations,

Pennsylvania Gov. Wolf Awards $14M to Help Allegheny County Developers Attract Business
Three local agencies are slated to receive a combined $14 million in state financing to prepare business-ready sites in Allegheny County. The combination of loans and grants will support improvements to the Pittsburgh Airport Innovation Campus, Carrie Furnace, and Fairywood Industrial Park.

Introducing Equity1821: First Black-Led CDFI Loan Fund in Indiana
Black Onyx Management, a consulting firm working to empower Black and marginalized communities, recently completed a feasibility study for the city of Indianapolis and LISC titled "Equity Pays: A case for Black-led Community Development Financial Institutions." The study has resulted in the creation of Equity1821, the first Black-led CDFI loan fund in Indiana.

Kentucky Agricultural Finance Corporation Approves More Than $1.5M in Loans
The Kentucky Agricultural Finance Corporation approved $1,538,208 for six agricultural loans for infrastructure and processing projects, as well as beginning farmers across the commonwealth at its monthly board meeting. Loans were made from the Agricultural Infrastructure Loan Program (AILP), the Agricultural Processing Loan Program (APLP), and the Beginning Farmer Loan Program (BFLP)

Upcoming Events
CDFA National Development Finance Summit

CDFA-Bricker Webinar Series: Solar Projects
Thursday, August 11, 2022 - 2:00 PM - 4:00 PM Eastern
This webinar will provide an overview of tax abatements typically used by solar developers, with a focus on examples from the state of Ohio, and panelists will also discuss how abatements and payment-in-lieu-taxes agreements interplay with state permitting processes.

CDFA // BNY Mellon Development Finance Webcast Series: The Latest Community Engagement Strategies for TIF
Tuesday, August 16, 2022 - 2:00 PM - 3:00 PM Eastern
Tax Increment Finance (TIF) is an essential tool for financing redevelopment and transformation in communities of all sizes. During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore new strategies that local governments are employing to give tax payers, schools, and businesses a path to participating in TIF deal structuring and negotiation.

Headlines

New Hampshire Welcomes $6.1M to Update Newport Wastewater Facility
Office of Sentator Shaheen | Aug. 8 | Access to Capital | Community Development | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Water Finance | Water Finance | Sewage & Waste

Downtown Batavia, NY Businesses Plan for Expansion on Main Street
The Batavian | Aug. 7 | Access to Capital | Community Development | Economic Development | Revolving Loan Funds (RLFs)

Expanded Meat, Poultry Processing Resources Available in New Mexico
Capital Journal | Aug. 2 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)

White House Retrofits Infrastructure Bill to Better Help Poor Communities
The New York Times | Aug. 2 | Access to Capital | Community Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | Water Finance | Sewage & Waste | Stormwater

Historic $13.8M Infrastructure Law Investment to Clean Up, Redevelop Hazardous Sites in Maine
Congresswoman Chellie Pingree | Aug. 2 | Access to Capital | Brownfield Financing | Community Development | Infrastructure Finance | Revolving Loan Funds (RLFs)

Tempe, AZ Small Business Owner Helps Other Minority-Owned Companies Succeed
Phoenix Business Journal | Jul. 31 | Access to Capital | Revolving Loan Funds (RLFs) | Social Finance

Capital Help Crucial for Beginning Farmers
Iowa Farmer Today | Jul. 29 | Access to Capital | Agriculture Finance | Bond Finance | Federal | Revolving Loan Funds (RLFs) | Tax Credits | U.S. Dept. of Agriculture (USDA)

City of Mitchell, SD Mulls Selling Public Land Along Lake Mitchell to Fund $17M Dredging Project
Yahoo News | Jul. 29 | Access to Capital | Community Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | State Revolving Fund

City Extends Microloan Program to All Small Businesses in Wichita, KS
Wichita Business Journal | Jul. 27 | Access to Capital | Revolving Loan Funds (RLFs) | Social Finance

Sen. Brown Announces $900K for RLF to Serve Small Businesses in Franklin County, OH
Sen. Sherrod Brown | Jul. 26 | Access to Capital | Member News | Revolving Loan Funds (RLFs)

Michigan Taps Funding Sources to Support Water Infrastructure
Michigan Dept. of Environment, Great Lakes, and Energy | Jul. 20 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance | Revolving Loan Funds (RLFs) | Water Finance | Case Studies | State Revolving Fund

Indiana Wins Up to $99M From SSBCI to Spur Entrepreneurship, Start-Ups
Indiana Economic Digest | Jul. 19 | Access to Capital | Disaster Recovery & Relief | Economic Development | Revolving Loan Funds (RLFs) | State Small Business Credit Initiative (SSBCI)

Vermont to Use $58M in Pandemic Funding to Aid Entrepreneurs
WCAX | Jul. 19 | Access to Capital | Disaster Recovery & Relief | Economic Development | Revolving Loan Funds (RLFs) | State Small Business Credit Initiative (SSBCI)

Connecticut Plans to Support Entrepreneurs and Small Businesses Growth with COVID Recovery Funding
Office of Ned Lamont | Jul. 18 | Access to Capital | Disaster Recovery & Relief | Economic Development | Federal | Revolving Loan Funds (RLFs) | Social Finance | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | COVID-19

Ag-LINK Program Offers Financial Support to Ohio Farmers
Spectrum News1 | Jul. 15 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

Virginia Community Capital Introduces $10M Economic Equity Loan Fund to Aid Minority Businesses
WBDJ7 | Jul. 11 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs) | Social Finance


New Additions to the Online Resource Database

Investing in Regenerative Agriculture Infrastructure Across Value Chains
Access to Capital | Agriculture Finance | Bond Finance | Economic Development | Food Systems Finance | Foundations | Green Finance | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | Social Finance
Regenerative farms rely on small-to-mid scale, aligned infrastructure to process, transport, and market their products. These middle infrastructure businesses help to improve farm income and bolster regional food economies while providing significant social and environmental benefits. However, their unique business models require innovative and patient forms of capital to grow and succeed. This report identifies finance opportunities and pathways to build resilient value chains for regenerative farms.

Assessing the Small-Business Landscape in Metropolitan Kansas City
Access to Capital | Community Development | Economic Development | Revolving Loan Funds (RLFs) | Social Finance
The Kansas City region (Metro KC) has a rich set of support resources for its entrepreneurial community. However, the region still has ample room to develop in terms of connecting entrepreneurs to the capital and support they need to launch and grow their enterprises. Interviews with small-business owners, lenders with small-business portfolios, technical assistance providers, philanthropists, and government officials illustrate current strengths, weaknesses, and gaps in Metro KC's financial, philanthropic, and governmental infrastructure for small business.


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

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • 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
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor