Join CDFA for the Return of the Revolving Loan Fund WebCourse Week!
Revolving Loan Fund WebCourse Week is returning with the intro level on May 13-14 followed by the advanced level on May 15-16. Register for one or both of these courses to learn from experts about developing, implementing, and managing efficient and impactful revolving loan fund programs.
Chautauqua, NY Revolving Loan Funds to Support Local Small Businesses
A crowdfunding company in Buffalo, Common Owner, aims to level the playing field for the average investor while diversifying the pool of funding for projects and bringing more capital overall into the system. Investors can participate by taking equity stakes in projects, loaning money, or both. Three businesses in Chautauqua County will receive a total of $725,000 in low-interest loans to support upgrades and job growth. The CCIDA backed the loans at 4% interest to businesses in Jamestown, Gerry, and Silver Creek, using its AL Tech, EDA Cares Act, and Chautauqua revolving loan funds.
Colorado's MCEDC's RLF Receives $5M From USDA
The Morgan County Economic Development Corporation (MCEDC) launched the Mobile VR (Virtual Reality) Lab through ROOTS76. This innovative program has brought attention state-wide and is poised for national recognition. The MCEDC's Revolving Loan Fund (RLF) experienced a significant transformation, bolstered by a $5 million grant from the U.S. Department of Agriculture (USDA), that enables reinvestment in community and long-term sustainability.
South Dakota DANR Announces More Than $172M for Environmental Projects
The South Dakota Department of Agriculture and Natural Resources (DANR) announced the Board of Water and Natural Resources has approved $172,554,815 in grants and loans for drinking water, wastewater, stormwater, and solid waste projects in South Dakota. The $172,554,815 total consists of $20,007,550 in grants and $152,547,265 in low-interest loans, including $10,986,600 in principal forgiveness to be administered by DANR. Funds were awarded from DANR's Drinking Water State Revolving Fund Program, Clean Water State Revolving Fund Program, Solid Waste Management Program, Consolidated Water Facilities Construction Program, and the Water Environment Fund.
North Dakota Legacy Fund Invested $49M in BND's Infrastructure RLF
The Legacy Fund's in-state investment program targets $700 million for in-state fixed-income investments, such as infrastructure, and $600 million for in-state equity investments, supporting new and expanding businesses. The combined goal is $1.3 billion. More than $395 million of the Legacy Fund's assets are invested in North Dakota through the Bank of North Dakota (BND) and the North Dakota Growth Fund (NDGF). The Legacy Fund has also invested $49 million through BND's Infrastructure Revolving Loan Fund (RLF) to help pay for critical infrastructure.
California RLF Supports GoGreen Home Energy Financing Program
GoGreen Home, administered by the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA), enables lenders to offer low interest rates, extended terms for affordable monthly payments, and broader eligibility, including accepting borrowers with lower credit scores. GoGreen Home manages a loan loss reserve fund that serves as a backstop for lenders, providing up to 90% reimbursement in the event of default by the borrower. The $100 million in GoGreen Home projects were funded with $15.7 million in credit enhancement funds from utility ratepayers. The program's credit enhancement facility operates as a revolving loan fund (RLF).
Village of Oswego, IL Uses RLF to Fund Nash Vegas Saloon
Oswego trustees have authorized approval of a loan and a development incentive grant for a new restaurant and entertainment venue aiming to open in the village's downtown. The developer applied for a $340,000 loan and a $40,000 economic development grant to modify the interior of 61 Main St. for a new venue to be called Nash Vegas Saloon. The site formerly housed the Oswego Brewing Company. The loan will come through the village's revolving loan program which was developed to build a stronger economic base and expand job opportunities in the village.
$100M Nevada Facilities RLF Supports Charter Schools in Under-Resourced Communities
The Nevada Facilities Fund (NVFF) is a $100 million revolving loan fund (RLF) set up by the State Infrastructure Bank to provide long-term, low-cost facility financing for charter schools that serve under-resourced communities. NVFF was seeded with $15 million in public funding approved by the State Infrastructure Bank, $80 million from national donors through the Equitable Facilities Fund, and $5 million from local philanthropists.
U.S. EPA Awards Wayne County, NY $1M to Fund Brownfields RLF
Wayne County has been awarded $2 million in grants from the U.S. Environmental Protection Agency (EPA) to support its efforts in cleaning up and repurposing unused and polluted lands, known as brownfields. This funding is a significant boost to the county's mission to turn these neglected sites into valuable community spaces. The grants include a $1 million Brownfield Coalition Assessment Grant, aimed at helping Wayne County identify and prepare for the redevelopment of these sites. Another $1 million will fund a Brownfield Revolving Loan Fund (RLF), offering loans for cleaning up and developing these areas.
City of Chase, KS Hopes for RLF Funding for Sewer Improvements
There's a commonly held belief that small, rural Kansas communities are evaporating from the windswept plains, plagued by a dwindling, aging population. However, spurred by an influx of new families, the city of Chase - population 390 in Rice County and Pawnee Rock, and population 190 in Barton County - hopes to cobble together Kansas Department of Health and Environment Revolving Loan Fund money and a $650,000 Community Development Block Grant to pay for a $3.6 million project to improve their sewers.
|