About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

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.


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

Subscribe

-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 hosted weekly briefings about development finance COVID-19 news and resources. These one-hour phone calls featured 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 were held every Friday at 1:00 PM (Eastern) through May 15, 2020:

-State Response Map

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

-COVID-19 Recovery & Relief Resources

-Federal Resources

SBA Administrator Issues Statement on the Closure of Paycheck Protection Program
U.S. SBA | Jun. 1 | Access to Capital | Disaster Recovery & Relief | Federal | U.S. Small Business Administration (SBA) | COVID-19
U.S. Small Business Administrator Isabella Casillas Guzman issued the following statement on the closure of the Paycheck Protection Program (PPP) to new loan guaranty applications, which has provided over $798 billion in economic relief to small businesses and nonprofits across the nation, keeping employees employed and helping businesses come back stronger than ever.
SBA Rolls Out $100M Grant Program to Help Small Businesses Recover from COVID Fallout
Mass Live | May. 27 | Disaster Recovery & Relief | Economic Development | Federal | Rural Development | U.S. Small Business Administration (SBA) | (more)
The 'Community Navigator Pilot' Program will offer grants of $1 million to $5 million to eligible organizations to provide counseling, networking and to serve as an informal connection to agency resources to help rural and urban small businesses recover from the economic devastation wrought by the COVID-19 pandemic.
Treasury Will Allow States to Take ARP Funds and Cut Taxes, With Some Guardrails
Tax Policy Center | May. 26 | Disaster Recovery & Relief | Economic Development | Federal | U.S. Dept. of Treasury | COVID-19
The U.S. Treasury Department released guidance for the American Recovery Plan's (ARP) $350 billion in direct state and local aid, including details on how it will implement the law's restriction on using ARP funds for state tax cuts.
Fact Sheet: Coronavirus State and Local Fiscal Recovery FundsMembers only Login
May. 20 | Disaster Recovery & Relief | U.S. Dept. of Treasury
The $350 billion Coronavirus State and Local Fiscal Recovery Funds provide substantial flexibility for each jurisdiction to meet local needs—including support for households, small businesses, impacted industries, essential workers, and the communities hardest hit by the crisis. These funds also deliver resources that recipients can invest in building, maintaining, or upgrading their water, sewer, and broadband infrastructure.
In First 11 Days, Treasury Distributes $105.3B through Coronavirus State and Local Fiscal Recovery Funds
U.S. Department of the Treasury | May. 20 | Disaster Recovery & Relief | Federal | U.S. Dept. of Treasury | COVID-19
The U.S. Department of the Treasury announced that it has distributed $105.3 billion to more than 1,500 recipients through the Coronavirus State and Local Fiscal Recovery Funds, established by the American Rescue Plan Act of 2021. This $105.3 billion distribution is part of the $350 billion allocated in emergency funding for state, local, territorial, and Tribal governments.
U.S. Department of the Treasury Launches the Coronavirus State and Local Fiscal Recovery Funds Program
Ballard Spahr LLP | May. 19 | Community Development | Disaster Recovery & Relief | Federal | U.S. Dept. of Treasury | COVID-19
The U.S. Department of the Treasury announced the launch of the Coronavirus State and Local Fiscal Recovery Funds Program, which will provide $350 billion in emergency funds to eligible entities including state, local, territorial, and tribal governments. Eligible entities may use Coronavirus State and Local Fiscal Recovery Funds to stabilize revenue downturns and address budget shortfalls.
Economic Development Grant Opportunities within the American Rescue PlanMembers only Login
May. 7 | Community Development | Disaster Recovery & Relief | Economic Development | Infrastructure Finance | Economic Development Administration (EDA) | (more)
The American Rescue Plan Act of 2021 (ARP) provides local governments with an unprecedented opportunity to access federal funding to support community priorities. The ARP includes direct funding (known as Fiscal Recovery Funds) to state and local governments as well as additional competitive grant programs flowing through various federal agencies.
Fact Sheet: Biden-Harris Administration Supports Hard-Hit Restaurants
The White House | May. 5 | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Small Business Administration (SBA) | COVID-19
Established through the American Rescue Plan, the Biden-Harris Administration recently launched the Restaurant Revitalization Fund – a $28.6 billion program to aid restaurants, bars, food trucks, and other food and drink establishments. In the first two days of the program, 186,200 restaurants, bars, and other eligible businesses applied for relief, including 97,600 applications from women, veterans, and socially and economically disadvantaged individuals.
USDA Invests $92M in Grants for Local, Regional Food Producers Affected by the Pandemic
USDA | May. 5 | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA) | COVID-19
The USDA announced $92.2 million in competitive grant funding under the 2018 Farm Bill's Local Agriculture Market Program (LAMP). The LAMP grants are funded through the Farmers Market program as part of USDA's Pandemic Assistance for Producers Initiative. These grants support the development, coordination, and expansion of direct producer-to-consumer marketing, local and regional food markets and enterprises, and value-added agricultural products.
SBA’s Guidance on the $28.6B Restaurant Revitalization Grant Program
The Wall Street Journal | Apr. 26 | Access to Capital | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Small Business Administration (SBA) | (more)
The Small Business Administration (SBA) has provided guidance on how the $28.6 billion Restaurant Revitalization Fund will work. The Restaurant Revitalization Fund provides for qualified restaurants and other food establishments to obtain tax-free federal grants of up to $10 million to replace the loss of revenues resulting from the pandemic. Unlike the SBA's Paycheck Protection Program, the Restaurant Revitalization Fund will be administered directly by the SBA.
View more Federal Resources

-State and Local Resources

Coronavirus State and Local Fiscal Recovery Funds: Five Things Governments Need to Know
The U.S. Department of the Treasury published its interim final rule to implement the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Recovery Fund. The American Rescue Plan Act created the $350 billion recovery funds. To support governments in using money distributed from the recovery funds, the interim rule provides critical guidance regarding eligible uses of funds.
How Cities, States, and Tribes Can Boost Entrepreneurship via the American Rescue Plan
The COVID-19 crisis has put thousands of small businesses, from high-growth startups to Main Street employers, out of business. Importantly, the economic impacts of COVID-19 have not been equal. Minority-owned businesses and very small businesses are disproportionately concentrated in the industries most heavily impacted by the COVID-19 crisis such as restaurants, retail stores, and personal services.
American Rescue Plan Act - Local Relief Frequently Asked QuestionsMembers only Login
After the American Rescue Plan Act was signed into law by President Biden on March 11, 2021, it guaranteed direct relief to all 19,000 cities, towns, and villages in the United States. NLC has identified frequently asked questions about the Coronavirus Local Fiscal Recovery Fund grants, and has provided answers based on available information to help cities prepare while Treasury develops official guidance.
American Rescue Plan Tax Credits Available to Small Employers to Provide Paid Leave to Employees Receiving COVID-19 Vaccines
The American Rescue Plan Act of 2021 (ARP) allows small and midsize employers, and certain governmental employers, to claim refundable tax credits that reimburse them for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to receive or recover from COVID-19 vaccinations.
How States Can Avoid Costly Pitfalls While Rebuilding Their Economies
An unexpected decrease in revenue is one of the most challenging budget situations that state governments can face, as recent experiences grappling with the impact of the pandemic show. Policymakers are also feeling pressure to get their economies back on track. If economic development incentives are part of a state's recovery strategy, leaders should reduce fiscal risk, make informed policy decisions, and revisit programs for relevancy.
How Should Local Leaders Use Their American Rescue Plan Funding?
Included in the American Rescue Plan Act is $350 billion for "Coronavirus State and Local Fiscal Recovery Funds." These funds will be deployed to state and local governments to mitigate the fiscal impact of the COVID-19 pandemic. For many cities and counties, this represents the largest positive fiscal jolt to their budgets in decades. The decisions made in the coming weeks will determine whether cities merely enjoy a brief stimulus or seed a new trajectory of inclusive economic growth.
Legislative Analysis for Counties: American Rescue Plan Act of 2021Members only Login
As part of the American Rescue Plan's $362 billion in federal fiscal recovery aid for state and local governments, $65.1 billion is provided in direct aid to counties and an additional $1.5 billion for public land counties. This analysis by the National Association of Counties highlights key provisions for county governments.
Everything Cities Need to Know About COVID Relief
President Biden signed the American Rescue Plan Act into law on March 11. With the stroke of a pen, the President and Congress delivered historic, unprecedented and meaningful aid to America's 19,000 cities, towns, and villages with $65.1 billion of direct aid. This analysis provides a closer look at the direct aid to cities, towns, and villages.
The Pandemic is Pushing Cities to Rethink How to Drive Capital to Small Business
An estimated 41 percent of Black-owned businesses closed over the same February to April of 2020. State and local governments are using an assortment of tools to push that money in the direction of the people and businesses hit hardest by the pandemic — which happen to be disproportionately Black, Indigenous, or other people of color.
View More Disaster Recovery & Relief Resources

-Additional Resources

-Headlines

View more Headlines

-Upcoming Events

CDFA-Bricker PACE Webinar Series: Advancing Multi-Family Housing & Renewable Energy Goals with PACE
Tuesday, July 27, 2021
2:00 PM - 4:00 PM Eastern
Certain property and project types have not taken full advantage of PACE, however, during this workshop we’ll explore what is being done to advance the goals in these market areas.
Register
CDFA Federal Financing Webinar Series: Investing in Critical Community Facilities
Tuesday, August 24, 2021
2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, several federal agencies will discuss their financing solutions for local community facilities and how to coordinate with partners.
Register
CDFA Federal Financing Webinar Series: The Federal Role in Financing Broadband
Tuesday, September 14, 2021
2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, experts will discuss how federal financing tools can be used to fund 5G broadband networks.
Register
CDFA-Bricker PACE Webinar Series: PACE 2.0 - The Next 10 Years
Tuesday, November 20, 2021
2:00 PM - 4:00 PM Eastern
It has been approximately 10 years since the first PACE programs began. During this workshop, our speakers will provide insights related to expanding PACE assessments to benefit buildings and properties for other non-energy related improvements such as indoor air quality, lead water pipe replacement, surface storm water mitigation, and sewer overflows.
Register
CDFA Federal Financing Webinar Series: Preserving Local Food Systems with Federal Financing
Tuesday, December 14, 2021
2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, hear from experts at the USDA about their various programs available for rural food systems and agricultural producers to recover from the pandemic.
Register
View more Upcoming Events

-Webcasts

One Year into the Pandemic: New Evidence on How Small Businesses are Faring
The Urban Institute hosted this discussion about how small businesses are faring one year after the start of widespread economic shutdowns due to the pandemic. The webinar explored the disconnect between the fall in business activity and revenues, and generally positive small business credit and debt patterns. It also discussed what roles governments and philanthropic entities should play, including what work is needed to ensure businesses historically excluded from access to capital can have a prosperous future.
National SSBCI 2.0 Call - March 26, 2021
SSBCI was signed into law as part of the American Rescue Plan Act of 2021. CDFA hosted this National SSBCI 2.0 Call serving as an interface between Treasury and stakeholders during the rulemaking process. On March 26, 2021, we discussed insights and recommendations to Treasury and our understanding of what resources need to be developed.
CDFA Rural Development Finance Webinar Series: Financing Disaster Resiliency in Rural Communities
During the first installment of the CDFA Rural Development Finance Webinar Series, hear about a new technical assistance program from CDFA designed to support rural communities that have recently experienced a natural disaster. Experts discussed the variety of financing tools available from federal, state, and local sources to encourage investment resilient infrastructure.
National SSBCI 2.0 Call - March 11, 2021
SSBCI was signed into law as part of the American Rescue Plan Act of 2021. CDFA hosted this National SSBCI 2.0 Call with interested stakeholders on March 11, 2021, to discuss SSBCI 2.0. We discussed key SSBCI 2.0 questions and timelines. We also discussed CDFA's plans for SSBCI education and future engagement. Several states spoke about their efforts to re-launch SSBCI programming.
View more Webcasts

CDFA National Sponsors

  • Baker Tilly
  • 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
  • gener8tor
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor