Join CDFA as we kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 24-25, 2024! This course is the foundation for all of CDFA's educational offerings and 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.

The Economic Development Bank (EDB), the lending arm of the Virgin Islands Economic Development Authority (VIEDA), leveraged its relationship with lending partner FirstBank Puerto Rico (FirstBank) to successfully close the first two State Small Business Credit Initiative (SSBCI) loans in the territory. The transactions generated loans totaling $1.4 million in loan guarantees, which are anticipated to support a restaurant and a fishing supply operation and retain or create 22 total jobs.

The CDFA-NASDA Foundation Socially Disadvantaged Farmers & Ranchers Access to Capital Toolkit is designed to assist practitioners working in agriculture and economic development in learning more about the range of finance tools available to assist underserved farmers and ranchers with obtaining capital to start and grow their businesses. This toolkit outlines the many barriers socially disadvantaged farmers and ranchers face with finding affordable funding sources and provides resources and practical assistance to communities looking to invest in them.

Through the Advantage Illinois (AI) program, Illinois issued a record 145 low-interest loans totaling $35.7 million to small businesses – nearly 1.5 times the number of loans issued in 2022 and the most loans issued in a year since the program's inception in 2012, thanks in part due to the State Small Business Credit Initiative (SSBCI). Nearly 70% of loans were provided to Socially and Economically Disadvantaged Individuals (SEDI) or through the Fund for the Advancement of Minority Enterprises.

The Virginia Innovation Partnership Corporation (VIPC) announced that Virginia Venture Partners (VVP), its equity investment program, has invested State Small Business Credit Initiative (SSBCI) funds in Rho Impact, Inc., which develops forecasting tools to evaluate the potential impact of organizations and investments into climate technologies, particularly as it relates to where such technologies can reduce greenhouse gas (GHG) emissions, waste, water usage, and other impact areas.

SSBCI Coalition Meeting - Virtual
January 19, 2024 - 1:00 PM - 2:00 PM Eastern

2024 CDFA Federal Policy Conference
April 2-3, 2024 - Washington, D.C.

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The U.S. Department of the Treasury released the State Small Business Credit Initiative (SSBCI) Quarterly Report for the Third Quarter of 2023.

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