Revolving Loan Fund Program
Changes to RLF Reporting
With the launch of EDA’s new Salesforce application (“RLF Portal”) for Revolving Loan Fund (RLF) reporting, EDA is extending the regular deadline for RLF Financial Reports (Form ED-209) that are due in the coming weeks to facilitate a smooth, successful transition for our customers, staff, and systems onto the new platform. RLF Financial Reports for June and July are now due September 30, 2021.
The new RLF Portal went live on June 28, 2021, and is accessible at https://edagrants.force.com/RLF/s/.
Note: Other RLF-related reporting requirements shall be submitted to EDA as previously described by your RLF Administrator.
Throughout July, EDA is providing dedicated training and support for the cohort of RLFs preparing and submitting financial reports for June 30, 2021. Ongoing support will be provided for RLF Recipients with future reporting periods.
RLF Award Flexibilities
EDA has extended certain flexibilities to recipients of EDA-funded RLF awards through 6/30/2022. The flexibilities promote RLFs to provide credit quickly and efficiently to their communities in light of the impact of the coronavirus pandemic on small businesses. This FAQ provides more information.
EDA Release of RLF Awards (“De-federalization”)
The National Association of Development Organizations (NADO) hosted a webinar about EDA’s implementation of the Reinvigorating Lending for the Future Act (RLF Act). The webinar recording is linked here and the slide deck is linked here (PDF). EDA is inviting eligible EDA RLF operators to submit written requests asking EDA to release its federal interest in RLF awards. Please direct any further questions to your EDA Regional Office.
EDA provides Economic Adjustment Assistance (PDF) grants to eligible recipients to capitalize or recapitalize lending programs that service businesses that cannot otherwise obtain traditional bank financing (and in limited situations to governmental entities for public infrastructure). These loans provide access to capital as gap financing to enable small businesses to grow and generate new employment opportunities with competitive wages and benefits. Financing also helps retain jobs that might otherwise be lost, create wealth, and support minority and women-owned businesses.
RLF Program Fact Sheet (PDF)
Information on how to apply, eligibility, etc., can be found in EDA’s FY 2020 Public Works and Economic Adjustment Assistance Programs Notice of Funding Opportunity (PWEAA NOFO).
Examples of how small businesses are plugging into EDA-supported Revolving Loan Funds to ensure their continued growth and success can be found on our RLF success stories page.
A sortable list of EDA-funded RLF Recipients is available here (XLSX). Information includes organization name, city, state, webpage and lending area.
Locate Available Revolving Loan Fund Grantee's by State