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.
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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 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
-State and Local Resources
State Tax Revenue During the COVID-19 PandemicMembers only
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This dataset, compiled by the Urban Institute, examines the economic factors driving state tax collections during the COVID-19 pandemic based on data from US federal agencies like the Bureau of Economic Analysis, Bureau of Labor Statistics, and Federal Housing Finance Agency.
Local Data for Equitable Recovery
Local Data for Equitable Recovery is a resource hub curated by the Urban Institute and the National Neighborhood Indicators Partnership (NNIP) that highlights how local communities can use data and information to respond equitably and effectively to long-standing disparities exacerbated by the COVID-19 health crisis.
Creating Lasting Change through Community LeadershipMembers only
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This piece from the Urban Institute examines how the students, parents, community organizers, and local leaders in Camden, NJ, Perry County, KY, and Hayward, CA are using data to make their communities better for themselves, for their neighbors, and for future generations through the Promise Neighborhoods program.
Homeownership and Closing the Racial Wealth Gap
LISC CEO Maurice A. Jones joined President Bill Clinton, former HUD Secretary Julian Castro, and Atlanta Mayor Keisha Lance Bottoms to talk solutions to the housing crisis in a post-pandemic landscape on a Clinton Foundation video-streamed panel, "Affordable Housing and (Re)building the American Dream."
Local Food Systems Response to COVID
The COVID-19 pandemic and associated public health and social distancing mandates caused unprecedented shifts and disruptions for Local and Regional Food Systems (LRFS). USDA Agricultural Marketing Service (AMS) along with the cooperating research team led by the University of Kentucky seek to enrich existing efforts within LRFS communities of practice who provide essential support to our nation’s local food producers.
Assessment of County Needs in Economic Recovery from COVID-19
County leaders have witnessed firsthand the impacts of the COVID-19 pandemic on their neighbors and constituents and are well-informed on needs arising in their local communities. While county governments are uniquely positioned to support recovery efforts, counties, themselves, need support to meet those needs and secure the physical and economic well-being of their residents moving forward. This report outlines what county leaders have identified as primary concerns, priority actions and resources needed to create equitable long-term economic recovery.
Big Ideas for Small Business
This report provides a five-step roadmap towards a more inclusive, dynamic, and productive small-business sector. The report breaks down the five steps into ten major policy recommendations with detailed policy proposals. It was authored by the Drexel University Nowak Metro Finance Lab and Yale's Institution for Social and Policy Studies.
EIG Introduces the Distressed Communities Index
The Economic Innovation Group released the Distressed Communities Index (DCI), a timely research project that maps community well-being across the country down to the zip code scale. The report is accompanied by a digital mapping interactive that allows users to explore all of the data included in the DCI across zip codes, counties, and congressional districts.
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