USDA Making $4B Available for Rural Water Infrastructure
The U.S. Department of Agriculture has announced that $4 billion of grants and low-cost loans are available for the improvement or development of rural water infrastructure. Rural communities and water districts can apply online for the funding assistance to maintain, modernize or build water and wastewater programs.
USDA Announces RESP Loan Availability
The Rural Utilities Service, an agency of the USDA, is announcing funding availability and is soliciting letters of intent for loan applications under the Rural Energy Savings Program. Prospective loan applicants have until September 30 to submit their application.
EPA Provides $135M for Orange County, CA Project
The U.S. Environmental Protection Agency has announced a $135 million Water Infrastructure Finance and Innovation Act (WIFIA) loan to the Orange County Water District to help finance its Groundwater Replenishment System final expansion. The Orange County Water District estimates the project will cost $282 million.
USDA Invests $17.4M in 41 Projects in 22 States
USDA is making the investments through the Community Facilities Direct Loan Program. The funding helps rural areas purchase, construct or improve essential facilities. The projects will improve the quality of life for more than 220,000 rural residents.
504 Loan Program Rural Initiative to Increase Lending to Rural Communities
In an effort to increase economic development and job creation in rural areas, the SBA has announced the creation of the 504 Loan Program Rural Initiative. This pilot program allows Colorado Lending Source to provide SBA 504 financing to businesses in rural counties in Wyoming, Montana, North Dakota, South Dakota and Utah.
Fundrise Plans to Launch Opportunity Fund
Fundrise LLC plans to open investment in the Fundrise Opportunity Fund soon, aiming to raise $500 million by the end of 2019. Clients can invest as little as $10,000, and the money will be used for projects throughout the U.S. that fall in qualified Opportunity Zones.
CDFI Fund Opens 2018 Round for Capital Magnet Fund
The CDFI Fund will award approximately $142.9 million to CDFIs and qualified nonprofit housing organizations this year to finance affordable housing activities, related economic development activities and community service facilities, with the goal of attracting private capital to economically distressed communities.
SBA Disaster Loans Available to Businesses Affected by April Storms
Low-interest federal disaster loans from the SBA are available to Louisiana businesses and residents affected by the severe storms, tornadoes and straight-line winds that occurred April 13-14. SBA acted under its own authority to declare a disaster following the denial of the state's request for a major disaster declaration for individual assistance.
DOE Issues $2B Tribal Energy Loan Guarantee Program Solicitation
The U.S. Department of Energy (DOE) has issued the first loan guarantee solicitation for the Tribal Energy Loan Guarantee Program (TELGP). This solicitation provides as much as $2 billion in partial loan guarantees to support economic opportunities for Native American and Alaska Native communities.
USDA Partners to Improve Rural Water Infrastructure in 103 Communities
USDA is making investments in 35 states through the Water and Waste Disposal Loan and Grant program. The funds can be used to finance drinking water, storm water drainage and waste disposal systems for rural communities with 10,000 or fewer residents. In total, $267 million will be invested this round.
How WIFIA is Surviving the EPA Firestorm
Though the loan program was created in 2014 under the Obama Administration, it fits the current administration's model of setting up infrastructure programs that encourage private investment, Kane said. "It transcends the partisanship – or left vs. right perspectives on how each would pay for infrastructure," Kane said.
EDA Publishes EDAP Funding Opportunity
The EDA has published the 2018 Economic Development Assistance Programs (EDAP) Notice of Funding Opportunity. Under this NOFO, EDA solicits applications for construction, non-construction, planning, technical assistance, and revolving loan fund projects under the Public Works program and EAA programs.