November 17, 2022
NDC to Lead New EDA Revolving Loan Fund Community of Practice
The United States Economic Development Administration has announced the award of a $1.6 million grant to the National Development Council (NDC) to coordinate and lead a community of practice dedicated to building capacity among operators of EDA-capitalized Revolving Loan Funds (RLF) Working with Community Reinvestment Fund, USA (CRF) and Drexel University’s Nowak Metro Finance Lab, NDC will identify a core group of high-performing RLFs to serve as peer advisors to the nationwide community of RLF operators. This cadre will share best practices and lead peer-to-peer learning, enhancing the capabilities of RLFs in responding to recovery and resilience efforts and directing resources to underserved communities.
With a combined capital base of more than $1 billion, Economic Development Administration-capitalized Revolving Loan Funds (RLF) provide a critical source of gap financing to businesses that cannot otherwise access capital through a traditional lender. This new initiative is set to provide enhanced opportunities for cooperation and collaboration among EDA’s nationwide network of approximately 400 RLF operators.
Click the link below to read the full press release:
NDC to Lead New EDA Revolving Loan Fund Community of Practice | U.S. Economic Development Administration