SBA: Rules Implemented to Address Persistent Capital Access Gaps
Loan program updates will advance equity for rural, veteran, women, and minority-owned businesses The U.S. Small Business Administration has finalized two rules to address persistent gaps in access to capital impacting small business owners in underserved communities as part of the Biden-Harris Administration’s effort to grow the economy from the middle out and bottom-up, not…
FHFA: Final Rule Announced Amending the Enterprise Duty to Serve Underserved Markets Regulation
Enterprise activities in all colonia census tracts are eligible for Duty to Serve credit The Federal Housing Finance Agency (FHFA) today published a final rule to amend the Enterprise Duty to Serve Underserved Markets regulation. The final rule allows Fannie Mae and Freddie Mac’s (together, the Enterprises) activities in all colonia census tracts to be…
HUD: $2.8 Billion in Annual Funding Announced to Help People Experiencing Homelessness
To help individuals and families experiencing homelessness move into permanent housing, the U.S. Department of Housing and Urban Development (HUD) today announced $2.8 billion in Continuum of Care (CoC) Competition Awards for thousands of local homeless service and housing programs across the United States. The awards, previewed by HUD Secretary Marcia L. Fudge at the…
HUD: Nearly $315 Million Awarded in Historic Grants to Address Unsheltered and Rural Homelessness
The first of its kind package of grants and vouchers follows progress of 100,000 people and families housed and 40,000 housing units added to development pipeline by House America communities oday, the U.S. Department of Housing and Urban Development (HUD) is announcing the first set of communities to receive grants and vouchers to address homelessness…
EDA: U.S. Department of Commerce Launches First of its Kind Economic Recovery Corps with $30 Million CARES Act Investment
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) has awarded a $30 million CARES Act Recovery Assistance grant to a coalition of organizations to establish and operate a nationwide Economic Recovery Corps program. This EDA funded program will recruit and place at least 65 Fellows in economic development…
CDFI Fund: $355 Million in Bond Funding Announced for Projects in Low-Income Communities
U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that Treasury has agreed to issue three guarantees totaling $355 million under the Community Development Financial Institution (CDFI) Bond Guarantee Program. The guarantees will be issued on behalf of five Eligible CDFIs under the fiscal year (FY) 2022 round of the…
FHFA: New Rule Proposed to Help Enterprises Better Serve Colonias
Amendments will remove barriers to Enterprise Duty to Serve activities in high-needs rural regions The Federal Housing Finance Agency (FHFA) today proposed to amend the Agency’s Duty to Serve (DTS) Underserved Markets regulation to facilitate Fannie Mae and Freddie Mac’s (the Enterprises) activities related to serving colonias. “FHFA is committed to promoting affordability, equity, and…
SBA: $7.2 Million in PRIME Grants Awarded to Help Emerging Micro-Entrepreneurs Gain Access to Capital
Grants Will Help 38 Small Business Support Organizations Provide Technical Assistance and Training Services to Economically Disadvantaged Businesses, Rural Small Businesses, and Foreign Language Entrepreneurs Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses in President Biden’s Cabinet, announced a $7.2 million grant award to 38…
CFPB: New Report Details Family Finances and Debt in Rural Appalachia
Appalachians Face Higher Debt Burdens and Worse Credit Conditions than Most Other Parts of Rural America The Consumer Financial Protection Bureau (CFPB) has issued the first in a series of reports focusing on the finances of consumers living in rural areas. Today’s report focuses on rural Appalachians, who tend to earn less than consumers in…
EDA: Over $56 Million in American Rescue Plan Funds Invested Last Week
Last week, the following grants were made under the American Rescue Plan Funds program: August 30, 2022 – U.S. Department of Commerce Invests $15.4 Million in American Rescue Plan Funds to Bolster Infrastructure for Business and Job Growth in West Virginia August 30, 2022 – U.S. Department of Commerce Invests $6 Million in American Rescue Plan Funds…