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COVID-19 Resource Center

Development finance has always been at the forefront of recovering from natural disasters and economic challenges. The CDFA COVID-19 Resource Center is a collection of financing programs and resources to address disaster relief and recovery.


As the situation surrounding COVID-19 evolves, small businesses and communities across the country will very quickly face liquidity challenges, job losses, and project stagnation. Credit will be tightening and small businesses will struggle to make payroll while communities will be forced to scale back or halt infrastructure development. Moreover, communities are facing difficulties financing critical infrastructure such as health facilities, broadband networks, and testing centers to address local COVID-19 demands.


Development finance agencies are uniquely positioned to solve these challenges through pragmatic solutions and adjustments to existing initiatives. CDFA developed this COVID-19 Resource Center to serve as a central hub of everything the development finance world is doing to mitigate the impacts of COVID-19.


Tune in to CDFA's Weekly Development Finance COVID-19 Briefing to stay at the forefront of the development finance community's mitigation and recovery efforts.

Subscribe to CDFA's COVID-19 Recovery & Relief Update newsletter for regular updates on relief and recovery financing initiatives.

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-CDFA's COVID-19 Comprehensive Recovery Strategy

Based on the input of our 500+ members, CDFA has developed a set of policy proposals that would allow state and local governments, through development finance agencies, to be immediate problem solvers that can help alleviate the extreme economic challenges facing small businesses and communities to put America securely on the path to recovery.

Read the Comprehensive Recovery Strategy

Unlock Capital for Small Business Immediately

To support small businesses, Congress and the Administration should:
  • Reauthorize & Fund the State Small Business Credit Initiative
  • Temporarily Remove Match Requirements from Certain Federal Programs
  • Amend Existing Revolving Loan Funds

Pass Immediate Bond Financing Provisions

To support communities, Congress and the Administration should:
  • Pass the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA)
  • Create a Permanent Category of Disaster Recovery Bonds

Allocate Federal Funding Accordingly

  • CDFI Fund - $1 billion to address critical community lending needs
  • EDA - $500 million to seed new, flexible revolving loan funds and to provide direct technical assistance to communities hit hard by the crisis
  • HUD - $2 billion to address urban disaster recovery due to small business losses
  • USDA - $2 billion to address rural development stagnation and the loss of small businesses

-Weekly Development Finance COVID-19 Briefings

CDFA will be hosting a weekly briefing about development finance COVID-19 news and resources. These one-hour phone calls will feature legislative updates, news from our members, state and local financing strategies, and lessons learned from previous development finance responses to disasters.

CDFA's Weekly Development Finance COVID-19 Briefings will be held every Friday at 1:00 PM (Eastern) through May 29, 2020:
  • May 1, 2020
  • May 8, 2020
  • May 15, 2020
  • May 22, 2020
  • May 29, 2020
Click register to confirm your interest and to receive weekly reminders with the dial-in information and agenda.

Register

-State Response Map

Click a state to view COVID-19 financing programs and related headlines.

-COVID-19 Recovery & Relief Resources

-Federal Financing Programs

Economic Injury Disaster LoanMembers only Login
U.S. Small Business Administration (SBA) | U.S. Small Business Administration (SBA) | Access to Capital | Disaster Recovery & Relief
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
Paycheck Protection ProgramMembers only Login
U.S. Small Business Administration (SBA) | U.S. Small Business Administration (SBA) | Access to Capital
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by directing $349 billion towards job retention and business operating expenses.
SBA Disaster Assistance LoansMembers only Login
U.S. Small Business Administration (SBA) | U.S. Small Business Administration (SBA) | Access to Capital | Disaster Recovery & Relief
SBA offers low-interest long-term loans for physical and economic damage caused by declared disasters. The SBA will work directly with state Governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19).
Working Capital Loan Guarantee ProgramMembers only Login
Export-Import Bank of the United States (EXIM Bank) | Export-Import Bank of the United States (EXIM Bank) | Access to Capital | Foreign Investment
Working Capital Loan Guarantees can empower exporters to unlock cash flow and take on new business abroad. Exporters can borrow more with the same collateral, secure performance, bid bonds needed to win projects, and increase global competitiveness.
USDA Expands Provisions for Lenders to Offer Temporary Exceptions to Payment Deferrals
U.S. Department of Agriculture | Apr. 8 | Access to Capital | Disaster Recovery & Relief | Federal | Rural Development | U.S. Dept. of Agriculture (USDA) | (more)
USDA is expanding upon the deferral flexibilities it announced March 31, 2020. The expanded notice provides that guaranteed lenders may also approve and make covered loans under the provisions of Section 1102 of the CARES Act. Section 1102 pertains to the Small Business Administration's Paycheck Protection Program.
CDFA to Host Legislative Briefing on Stimulus Phase 4 on Wednesday, April 8
CDFA | Apr. 7 | Disaster Recovery & Relief | Federal | Legislative | COVID-19
CDFA will be hosting an important legislative briefing this Wednesday, April 8 at 4:00 pm (Eastern). We'll be discussing the latest information about the next stimulus act from Congress and the urgent actions development finance agencies should take.
COVID-19 Legislative Relief Provisions for Small Businesses
JD Supra | Apr. 6 | Disaster Recovery & Relief | Federal | Food Systems Finance | Revolving Loan Funds (RLFs) | Tax Credits | (more)
Two recent pieces of legislation, the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contain provisions intended to provide assistance to small businesses affected by the COVID-19 pandemic.
SBA, Treasury Launch $349B Paycheck Protection Program
U.S. SBA | Mar. 31 | Access to Capital | Disaster Recovery & Relief | Federal | Tribal Finance | U.S. Dept. of Treasury | (more)
The 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.
Congress' Relief Money Another 'Unprecedented' Aid Package for Farmers
Politico | Mar. 30 | Agriculture Finance | Disaster Recovery & Relief | Federal | Food Systems Finance | COVID-19
The administration for the third year in a row will infuse an unprecedented amount of money into the farm economy after Congress authorized more than $23 billion as part of the just-enacted stimulus package to blunt the economic harm caused by the coronavirus pandemic. And once again, the Agriculture Department has broad discretion to decide how to divide up the funds among farmers.
USDA Extends ReConnect Application Deadline to April 15
USDA | Mar. 30 | Disaster Recovery & Relief | Federal | Infrastructure Finance | COVID-19 | Broadband
U.S. Department of Agriculture Rural Development announced that the agency has extended the deadline for ReConnect Pilot Program applications to April 15 in light of the COVID-19 pandemic. This program provides funding to rural businesses, cooperatives, and communities to help bring high-speed broadband connectivity to rural communities.
View more Federal Programs

-State and Local Financing Resources

Legislative Briefing - April 2020
During this Legislative Briefing, we discussed the latest information about the next stimulus act (Phase 4) from Congress and the urgent actions development finance agencies should take. We examined legislative reactions to the CARES Act, what we expect in Stimulus 4 provisions, legislative actions on tax-exempt bonds and small business access to capital, and more.
Listen: COVID-19 Weekly Development Finance Briefing - April 3 (Free Recording)
During the April 3, 2020 Weekly COVID-19 Development Finance Briefing, experts from the North Carolina Rural Center, the Local Initiatives Support Corporation, and the New Orleans Business Alliance discussed their respective approaches to local financing programs to support small businesses.
Summary of the CARES Act
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.
COVID-19 Emergency Loans & Small Business Checklist - U.S. Chamber of Commerce
The U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals prepare to file for a loan.
FAQs for SBA's Economic Injury Disaster Loan Program
This document contains Frequently Asked Questions for the SBA's Economic Injury Disaster Loans (EIDL) Program.
Business Survival Guide
Created by Business Oregon's finance team, this resource guide is meant to help small businesses during the COVID-19 outbreak.
Coronavirus Response Resources for Local Leaders
Local elected officials are distinctly positioned to protect the health and safety of residents and to provide reassurance in times of crisis. The National League of Cities developed this resource page to support cities, towns and villages during the COVID-19 outbreak and to take measures to reduce its spread. NLC will update this page as information becomes available.
Coronavirus Discussion Guide for Local Governments
Local government managers should prepare their communities by reviewing their emergency response plans for pandemic events. Begin by discussing these prompts with your leadership team and partner organizations and pair this discussion guide with frequently updated information noted in the Key Resources section.
View More Disaster Recovery & Relief Resources

-Additional Resources

-Headlines

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CDFA National Sponsors

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McCarter & English, LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • Petros PACE Finance
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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