CDFA is pleased to announce the CDFA Food Systems Finance Webinar Series, a free, exclusive online series connecting businesses and projects within the food system to a variety of development finance tools. Join us on April 16, 2020, for the first installment of this series, where we will explore the impacts of COVID-19 on the food system and the creative financing efforts being launched to support our local food economies during this time of unprecedented crisis.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act establishes a new $349 billion Paycheck Protection Program that will provide much-needed access to capital so they can sustain their businesses and keep their workers employed. The new loan program will be available retroactive from Feb. 15, 2020, so that employers can rehire their recently laid-off employees through June 30, 2020.

MHP was recently awarded a $1.7 million grant from the U.S. Department of Housing and Urban Development (HUD) to fund the Strengthening Rural Communities (SRC) program. MHP uses HUD RCB funds to implement the Strengthening Rural Communities Program nationwide. Applications for Technical Assistance are due April 15, 2020.

UT small businesses suffering under the economic impacts of COVID-19 may now be able to secure some zero-interest financing to help weather the pandemic. On Monday, Gov. Gary Herbert announced the Utah Leads Together Small Business Bridge Loan program aimed at helping UT businesses with 50 or fewer employees with 0% interest loans from $5,000 to $20,000 for up to 60 months.

The COVID-19 pandemic has led the Governors of many states to request that their states be declared federal disaster areas. These declarations will extend two important deadlines in the rules relating to investments in qualified opportunity zones.

This is a summary of the Coronavirus Aid, Relief, and Economic Security (CARES) Act from the Congressional Research Service. This is the third in a series of legislative packages addressing the COVID-19 pandemic.

Governor Jay Inslee signed HB 2405, legislation that for the first time authorizes Property Assessed Clean Energy (PACE) loans in the State of Washington. Washington's version of the program also permits financing for resiliency retrofits, such as retrofits for seismic safety, and is therefore referred to as "PACER," for "Property Assessed Clean Energy and Resiliency."

The Opportunity Finance Network announced that we are working with Google to launch the Grow with Google Small Business Fund. The $125 million fund will deliver responsible financing to CDFIs to help thousands of small businesses and nonprofits hardest hit by the COVID-19 pandemic. In addition, Google will make a $5 million grant to OFN to help CDFIs to grow and build their capacity.

Development finance has always been at the forefront of recovering from natural disasters and economic challenges. The emergence of the COVID-19 crisis requires a unique and targeted response by the federal government, state and local development finance agencies (DFAs), private banks, and philanthropy. The following set of strategies and recommendations is designed to help DFAs evaluate their portfolios and determine whether modifications are needed for their bonds, tax increment finance, and revolving loan fund programs.

Weekly Development Finance COVID-19 Briefing
Every Friday through May 29, 2020 - 1:00 PM Eastern

CDFA Food Systems Finance Webinar Series: Disaster Recovery for the Food System
Thursday, April 16, 2020 - 2:00 PM Eastern

CDFA // BNY Mellon Development Finance Webcast Series: The Performance of Social Impact Bonds
Tuesday, April 21, 2020 - 1:00 PM Eastern

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The U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals prepare to file for a loan.

On the March 27, 2020 Weekly COVID-19 Development Finance Briefing, we discussed how Development Finance Agencies have initially responded to COVID-19, examined Congressional legislation, analyzed how federal agencies are reacting, and looked at a few exemplary state and local financing programs.

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