CDFI Fund: Application Demand Released for FY Round of Capital Magnet Fund
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the application data for the fiscal year (FY) 2023 round of its Capital Magnet Fund (CMF) program. A total of 144 organizations submitted applications requesting more than $1.1 billion in funding. The applicants propose to serve 49 states, the District…
EDA: Global Delegation to Visit Greater Seattle Region for Americas Competitiveness Exchange
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA), in coordination with the U.S. Department of State and the Organization of American States (OAS), announced that 50-60 senior-level government, business, policy and economic leaders from 22 countries will participate in the 16th Americas Competitiveness Exchange (ACE) in the greater Seattle, Washington, region May 14-19,…
EDA: First Tech Hubs Funding Opportunity Launched
As part of the President’s Investing in America Agenda, the U.S. Department of Commerce seeks applications to develop regional centers of innovation and job creation The Biden-Harris administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), today launched the Regional Technology and Innovation Hubs (Tech Hubs) competition. This program will create tech hubs in regions…
EDA: First Economic Development District Designated in Puerto Rico
Today, U.S. Deputy Secretary of Commerce and Puerto Rico Economic Growth CoordinatorDon Graves announced that the Department’s Economic Development Administration (EDA) has designated the first regional Economic Development District (EDD) in Puerto Rico, the Southern Puerto Rico Economic Development District (SPREDD). “President Biden is committed to ensuring that no community or demographic group is excluded from…
SBA: Virtual Military Spouse Entrepreneur Summit Scheduled for May 25th
The U.S. Small Business Administration’s Office of Veterans Business Development will host a virtual Military Spouse Entrepreneur Summit in collaboration with the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes on Thursday, May 25, from 1-3:30 p.m. ET. This event furthers the priorities set forth by First Lady Jill Biden’s Joining Forces initiative. This free event will connect military spouses with…
SBA: New Development and Improvements on Loan Program Modernization Announced to Expand Access to Capital for Small Businesses
Program Improvements will expand access to capital for small businesses, especially small-dollar loans, and increase protection against fraud as part of rulemaking finalized in April Today, following the recent finalization of two new rules aimed at closing gaps in capital access for America’s small business owners, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the…
HUD: More Than $22 Million Awarded to Expand Access to Affordable Housing & Homeownership
$12.5 million in Self-Help Homeownership Opportunity (SHOP) Grants; $10 million Rural Capacity Building Grants The U.S. Department of Housing and Urban Development (HUD) today awarded $12 million in grants to support non-profit, self-help housing organizations that enable homeownership opportunities for hard-working, low-income families and individuals. Funded through HUD’s Self-Help Homeownership Opportunity Program (SHOP), the grants awarded…
HUD: More Than $837 Million Announced to Improve Housing Quality and Reduce Energy Costs for Underserved Communities
New funding from Inflation Reduction Act of 2022 and $4 billion in loan commitment authority will make HUD-assisted multifamily housing more energy efficient, cut greenhouse gas emissions, and improve climate resiliency. The U.S. Department of Housing and Urban Development (HUD) today will announce the availability of new funding through the Green and Resilient Retrofit Program (GRRP) to…
FDIC: Proposed Rule Issued on Special Assessment Pursuant to Systemic Risk Determination
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking, which would implement a special assessment to recover the cost associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action in connection with…
FEMA: President Biden Approves Major Disaster Declaration for Kentucky
FEMA announced that federal disaster assistance has been made available to the Commonwealth of Kentucky to supplement recovery efforts in the areas affected by severe storms, straight-line winds, flooding, landslides and mudslides Feb. 15-20, 2023. Public Assistance federal funding is available to the commonwealth, eligible local governments and certain private nonprofit organizations on a cost-sharing basis…