CDFI Fund: Updated CDFI Program Investment Areas and Target Markets Based on 2011-2015 ACS Census Data
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has released updated Investment Areas for the Community Development Financial Institutions Program (CDFI Program). Investment Areas have been revised using the U.S. Census Bureau’s 2011-2015 American Community Survey (ACS) to provide more current socioeconomic and demographic data that reflect changes since the…
FEMA: President Trump Approves Major Disaster Declaration for the Northern Mariana Islands
The Federal Emergency Management Agency (FEMA) announced that federal disaster assistance has been made available to the Commonwealth of the Northern Mariana Islands to supplement the commonwealth and local recovery efforts in the areas affected by Typhoon Mangkhut from September 10 to September 11, 2018. The President’s action makes federal funding available to affected individuals…
EDA: $14.5 Million Invested to Support Disaster Recovery Efforts in Texas
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $14.5 million in grants to communities throughout Texas to help support local recovery efforts following Hurricane Harvey. According to grantee estimates, the project is expected to create and retain over 480 jobs, while generating $512 million in private…
EDA: $4.3 Million Invested in Ohio to Boost Business Development and Job Growth
oday, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $4.3 million in grants to the State of Ohio to help support local innovation and other economic growth efforts. “The Trump Administration is committed to spurring innovation efforts among students at colleges around the country,” said Secretary of…
EDA: $1.15 Million Invested to Support Business Growth in Silverton, OR
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.15 million grant to the City of Silverton to make critical water infrastructure improvements needed to support the community’s expansion plans. According to grantee estimates, the project is expected to create 150 jobs and spur $2 million…
FEMA: President Trump Approves Major Disaster Declaration for Hawaii
The Federal Emergency Management Agency announced today that federal disaster assistance has been made available to the state of Hawaii to supplement state and local recovery efforts in the areas affected by Hurricane Lane on August 22 to August 29, 2018. Federal funding is also available to the state and local governments, and certain private…
HUD: FHA to Require Second Appraisal for Certain Reverse Mortgages
New policy designed to reduce ‘appraisal inflation’ WASHINGTON – The Federal Housing Administration (FHA) today announced that it will begin requiring lenders originating new Home Equity Conversion Mortgages (HECMs), commonly referred to as reverse mortgages, to provide a second property appraisal under certain circumstances. FHA is instructing lenders to provide a second independent property appraisal…
SBA: Hurricane Florence Survivors Eligible for SBA Loan Deferments
To further support Hurricane Florence recovery efforts, the U.S. Small Business Administration will offer deferments of up to nine months on SBA-serviced loans held by eligible residents, businesses and private nonprofits. Borrowers located in a North or South Carolina county designated a federal disaster area after Hurricane Florence, with SBA loans in “regular servicing” status…
SBA: $5 Million Awarded in PRIME Grants to Help Emerging Micro-Entrepreneurs Gain Access to Capital
Thirty-two community-based organizations that provide assistance to underserved entrepreneurs across the United States are set to receive a combined $5 million in grants from the U.S. Small Business Administration’s Program for Investment in Micro-Entrepreneurs (PRIME). These organizations help low-income entrepreneurs gain access to capital to establish and expand their small businesses. This year’s 32 recipients…
EDA: $2.5 Million Invested to Strengthen Innovation and Economic Growth Initiatives
U.S. Secretary of Commerce Wilbur Ross today announced the grantees under the U.S. Economic Development Administration’s (EDA) 2018 University Center Economic Development Program Competition. EDA is providing a total of $2.5 million in grants to 20 colleges and universities in 13 states to run programs that will leverage their assets to promote American innovation and…