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.
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NDC to Lead New EDA Revolving Loan Fund Community of Practice | U.S. Economic Development Administration