Agencies to Host Roundtable on Special Purpose Credit Programs on September 12th
Four federal agencies will host a roundtable discussion September 12, 2023, at 3:00 p.m. EDT regarding the availability of special purpose credit programs to help meet the credit needs of eligible individuals. The event will be open to the public via livestream. U.S. Department of Housing and Urban Development Secretary Marcia L. Fudge, Acting Comptroller…
SBA: Extension of Moratorium on 8(a) Eligibility Requirement Announced
A Bona Fide Place of Business moratorium will increase the opportunity for small and disadvantaged businesses to expand and grow their businesses Today, on her first day of a multi-city Alaska trip, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced the extension of the 8(a) Business Development Bona Fide Place of Business (BFPOB) Requirement Moratorium through…
ABA: Foundation Encourages Banks to Host 13th Annual Lights, Camera, Save! Teen Video Contest
Popular National Competition Promotes Financial Education The American Bankers Association Foundation is urging banks across the country to participate in its upcoming Lights, Camera, Save! video competition that runs from Oct. 1 to Dec. 1. Lights, Camera, Save! is a national contest that encourages teens to use video to communicate the value of sound money management. The…
SBA: Interim Guidance Released for 8(a) Program Participants in Light of Recent Lower Court Ruling
Today, the U.S. Small Business Administration released interim guidance regarding the 8(a) Business Development Program in light of a United States District Court ruling in Ultima Servs. Corp. v. Dep’t of Ag. affecting the program’s determination of social disadvantage. The updated interim guidance for 8(a) Program participants and applicants can be found on the SBA’s website here. The SBA, in…
SBA: Implementation Announced for Transformational SBIC Program Reforms
Reforms of SBA’s Small Business Investment Company Address Gaps in Equity and Debt Financing for Underserved and Undercapitalized Small Businesses Effective August 17 Administrator Isabella Casillas Guzman announced the U.S. Small Business Administration (SBA) Small Business Investment Company’s (SBIC) Diversification and Growth Final Rule is effective today. Under the new rule, which supports the Biden-Harris Administration’s economic and…
HUD: Changes Approved to Housing Choice Voucher Program to Accelerate Homelessness Solutions in Los Angeles
Today, the U.S. Department of Housing and Urban Development (HUD) approved requests by the Housing Authority of the City of Los Angeles and the Los Angeles County Development Authority to modify Housing Choice Voucher Program admissions requirements to expedite their efforts to help people experiencing homeless. “HUD is committed to supporting every community’s effort to…
FHFA: Results of Fannie Mae and Freddie Mac Dodd-Frank Act Stress Tests Announced
The Federal Housing Finance Agency (FHFA) today released a report providing the results of the annual stress tests that Fannie Mae and Freddie Mac (the Enterprises) are required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). As amended, the Dodd-Frank Act requires certain financial institutions with more than $250…
HUD and VA Launch “Boot Camps” to Accelerate Homeless Veterans’ Path to Permanent Housing and Support Services
The U.S. Departments of Housing and Urban Development (HUD) and Veterans Affairs (VA) launched the HUD-Veterans Affairs Supportive Housing (HUD-VASH) “Boot Camps.” The HUD-VASH “Boot Camps” are a series of workshops to help Public Housing Agencies (PHAs) and Veteran Affairs Medical Centers (VAMCs) improve their processes and more quickly transition veterans from homelessness to permanent…
HUD: Updated Public & Assisted Housing Guidance Published for Treatment of Solar Program for Residents
Updates support expanded use of solar program benefits for assisted housing residents as a result of the Inflation Reduction Act. The U.S. Department of Housing and Urban Development (HUD) published today updated guidance for Public Housing Authorities (PHAs) and owners of properties participating in HUD Multifamily Assisted Housing programs regarding the treatment of financial benefits…
HUD: Departments of Housing & Urban Development and the Interior Announce Action to Support More Affordable Housing in Nevada
New agreement will lead to the construction of critically needed affordable housing projects in Southern Nevada The U.S. Departments of Housing and Urban Development and the Interior today announced a new action to make it easier and more affordable for local communities in the Las Vegas metropolitan area to obtain federal land to build affordable…