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CDBG Compliance in Operating a Revolving Loan Fund
ED406 – CDBG Compliance in Operating an RLF. This course is conducted in two consecutive half-day sessions. HUD’s Community Development Block Grant (CDBG) program is an excellent source of funds for capitalizing local revolving loan funds. However, use of CDBG funds means complying with numerous requirements of the Housing and Community Development Act. The course examines the requirements that must be met before a loan is approved for a borrower. The course also investigates the requirements for monitoring the loan and makes sure that all conditions are met after the loan is made. Topics include:
- Low and moderate income benefit
- Job tracking
- Underwriting requirements
- Davis-Bacon
- Program income issues
- Project administration
- Micro-loan requirements
- Program reporting
The ED406 course is a free standing component of ED405. The ED406 course begins at 1:00 p.m., immediately following the ED405 course and concludes at 1:00 p.m. on the second day. It is priced as a one-day course.
Prerequisite: NDC recommends individuals take ED405 before ED406 or have experience in managing an RLF
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