Join CDFA for Our Upcoming Intro Tax Increment Finance WebCourse
Register for CDFA's Intro Tax Increment Finance (TIF) WebCourse taking place on June 26-27. Join us to learn the guiding principles and appropriate application of TIF. Our panel of expert instructors will discuss TIF deal-making and best practices highlighted by projects from around the country.
Arizona Launches Loan Guarantee, Technical Assistance Programs With SSBCI Funds
The Arizona Commerce Authority (ACA) has launched the Arizona Loan Guarantee Program, which provides guarantees to partnering lenders for up to 50% of principal on loans to eligible businesses to mitigate risk so they can increase capital available to small businesses located across the state. The ACA has established a new Technical Assistance Program, which prepares Arizona small businesses for debt or equity funding and provides financial literacy training. Funding comes from the State Small Business Credit Initiative (SSBCI).
CDFA Board Treasurer Steve Johnson Named CHFA's Chief Operating Officer
CDFA is excited to share the promotion of Steve Johnson to COO of the Colorado Housing and Finance Authority (CHFA). Steve has been one of CDFA's most committed supporters and advocates for the past 20 years, contributing his time and expertise as a guest speaker, event sponsor, CDFA Board of Directors Treasurer, and countless other ways. Congratulations Steve!
Walton Family Foundation, Arkansas Partner on $10M SSBCI Venture
VentureWell, funded by the Walton Family Foundation, the Arkansas Development Finance Authority (ADFA), and Cartwheel Studio (a local studio), have partnered with leading venture builder High Alpha Innovation to launch Fieldbook Studio, a pioneering $10 million venture studio based in Bentonville, dedicated to revolutionizing the entrepreneurial landscape in Arkansas and beyond. The Walton Family Foundation's grant will be matched by an investment from the State Small Business Credit Initiative (SSBCI).
Mitchell Smith Guest Speaker at CohnReznick's Annual New Markets Tax Credit Summit
Mitchell Smith, CDFA's Senior Director of Government & External Affairs, joined CohnReznick in Miami to speak at their annual New Markets Tax Credit (NMTC) Summit! Mitchell shared his expertise at the session, "Ballot boxes, budgets, and bipartisanship: The legislative state of the NMTC in the 2024 election year."
NJEDA Provides $3M in Loans to 42 Small Businesses Under SSBCI
The New Jersey Economic Development Authority (NJEDA) announced that more than $3.6 million in working capital loans have been approved under the NJ Capital Access Fund. Administered by designated fund manager Calvert Impact, the $100 million fund, supported by the State Small Business Credit Initiative (SSBCI) program and a private capital match, leverages Community Development Financial Institutions and Minority Deposit Institutions to offer technical assistance and an affordable and flexible working capital loan products.
$6M Pre-Seed and Seed-Stage Fund Launched in Ohio with SSBCI Funds
Rev1 Ventures, the venture studio that helps entrepreneurs and corporations accelerate innovation, is launching the Future Value Fund II (FVFII), a $6 million pre-seed and seed-stage fund to support Central Ohio companies, focusing on the region's technology startups that are underserved by venture capital. Rev1 Ventures is committing $3 million to the fund, which will be matched by Ohio's State Small Business Credit Initiative (SSBCI) Ohio Early Stage Focus Fund Program.
Maryland Commits $2M in SSBCI Funds for Small Business Lending in Baltimore
The Maryland Department of Housing and Community Development announced a $2 million commitment to City First Enterprises through the Neighborhood BusinessWorks Loan to Lender program. The funds will support small business lending in communities within the Baltimore-Washington metro area. The program is part of the State Small Business Credit Initiative (SSBCI), through which Maryland is deploying up to $198 million in federal relief.
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