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Revolving Loan Funds Update
July 11, 2017
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Revolving Loan Fund Finance Update

Features

RI Uses RLF to Fill Small Business Finance Gap
Business leaders in Rhode Island have long lamented companies' difficulties accessing capital, such as bank loans, to help finance expansions. Now, Commerce Secretary Stefan Pryor said, the loan program is one of several state efforts to help small businesses pay for research and development assistance.

VA Food Co-Op Expansion Aided by RLF
Natural Harvest Food Cooperative in Virginia has been around since 1979 selling natural foods and recently outgrew the space they were in. In order to expand they utilized multiple types of financing including a revolving loan fund.

Richmond, IN Turns in $8M Application for RLF Funding
Mayor Dave Snow hopes the city ultimately will qualify for a zero-percent interest loan through the Indiana Brownfields Program's Revolving Loan Fund. The funds would be used to tear down the old Reid Hospital building.

Lehigh Valley Organizations Allotted $1.45M to Spur Economic Growth
Lehigh Valley organizations have received $1.45 million from BB&T Economic Growth Fund to spur economic growth in the valley. Included in this announcement is a $250,000 grant to Bethlehem Economic Development Corp. to capitalize a revolving loan fund to remediate blighted properties.

Cleveland, TN to Receive $1.2M RLF for Water System Improvements
Seven communities and one Utility District have been approved to receive over $33.4 million in low-interest loans for water and wastewater infrastructure improvements, including Cleveland which will receive a $1,195,000 loan for water distribution system improvement.  

Researchers Outline Potential Funding to Save LA's Coastline
The master plan to save Louisiana's rapidly eroding coastline will be no more than a dream unless the state shores up enough financial resources to pay for it. Two Tulane University researchers have produced a report on potential funding options including a carbon credit program and revolving loan fund.

IL Community May Use Grant Money for RLF
The Greater Sterling Development Corp. board has discussed setting up a local revolving loan fund with money from a similar fund that was set up with federal Community Development Assistance Program grant funds.

Urban Shepherd Looking at Setting up RLF for Future Projects
Urban Shepherds started as a way to mow a vacant lot in Cleveland with sheep instead of spending money on mowing. The project's long-term goal is to have a revolving loan fund set up so there is always money for people to borrow to get other areas started.

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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


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