EDA: $1.5 Million Invested to Support Manufacturing Business Growth in Conway, AR
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.5 million grant to the city of Conway, Arkansas, to construct water and sewer infrastructure improvements. This grant will support manufacturing business growth at the Conway Industrial Park, improve fire flow to city residents, and support additional redevelopment…
EDA: $1.4 Million Invested to Support Industrial Park Development and Economic Resiliency in Kleberg County, TX
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.4 million grant to Kleberg County, Texas, to boost industrial business growth in response to recent natural disasters. This grant will advance the development of a new industrial park and transportation hub. This EDA investment will be matched…
EDA: $790,000 Invested to Support Tribal Disaster Recovery and Resiliency in Perkins, OK
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $790,000 grant to the Iowa Tribe of Oklahoma in Perkins, Oklahoma, to help develop and implement disaster recovery and resiliency strategies. This grant will support the Iowa Tribe of Oklahoma and tribal partners across the state by providing technical assistance to establish…
EDA: $500,000 Invested to Support Entrepreneurship on Maryland’s Eastern Shore
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to Eastern Shore Entrepreneurship Center in Easton, Maryland, to purchase, position, and equip two modular laboratories. This grant will support the F3 Tech Agbiotech Bioreactors and Lab Equipment project, which will include two large-capacity bioreactors and related lab equipment. This…
CFPB: Interim Final Rule Issued to Extend Compliance Dates for Small Business Lending Rule Under Section 1071
Interim final rule extends compliance dates pursuant to court orders Today, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule to extend compliance deadlines for the small business lending rule. After the CFPB issued the small business lending rule on March 30, 2023, a federal court in Texas stayed the rule pending the Supreme Court’s decision in CFPB…
ABA: Bank Economists Growing More Optimistic About Business Credit, Prospect for Soft Landing
Bank economists are expressing increased optimism about the outlook for business credit and the prospect of a soft landing for the U.S. economy over the next six months, according to the American Bankers Association’s latest Credit Conditions Index released today. The latest summary of ABA’s Credit Conditions Index examines a suite of indices derived from the quarterly…
HUD: Disaster Assistance Available for New Mexico Survivors
Federal aid supports state, tribal and local recovery for June 2024 South Fork Fire and Salt Fire. The U.S. Department of Housing and Urban Development (HUD) announced the implementation of federal disaster assistance for the state of New Mexico and ordered Federal assistance to State, tribal and local recovery efforts in the areas affected by…
HUD: Over $469 Million Made Available to Protect Families from Home Health and Safety Hazards
Funding will assist communities’ efforts to protect vulnerable residents by making improvements to older housing to eliminate housing-related health and safety hazards. Today, the U.S. Department of Housing and Urban Development (HUD) announced the Lead Hazard Reduction Grant Program’s Notice of Funding Opportunity (NOFO) that makes over $469 million in grants available to state and…
CDFI Fund: Revisions to Capital Magnet Fund Interim Rule Published
Comments due to the CDFI Fund by August 26, 2024 The U.S. Department of the Treasury is issuing a revised Interim Rule for the Capital Magnet Fund (CMF), administered by the Community Development Financial Institutions Fund (CDFI Fund). Changes incorporated by the revised Interim Rule include, among other things: This revised Interim Rule also reflects…
HUD: $18.7 Million Transaction Closed to Preserve Affordable Rental Homes for Pittsburgh Families
Today, the U.S. Department of Housing and Urban Development’s Office of Multifamily Housing Programs announced the recent completion of a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of the City of Pittsburgh (HACP). The transaction will enable the city of Pittsburgh to rehabilitate and preserve nearly 90 affordable rental homes at Manchester Commons,…