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Revolving Loan Funds and CDBG Compliance
ED405 - Revolving Loan Funds and CDBG Compliance. Local officials are confronted with increasingly limited sources of financing to meet the needs of expanding businesses and development activities. In response, many communities have created local revolving loan funds (RLFs). RLFs complement scarce private and public financing by recycling funds and leveraging private dollars. HUD’s Community Development Block Grant (CDBG) dollars can be a significant source of funding for RLFs. However, use of CDBG funds means complying with numerous requirements of the Housing and Community Development Act. NDC’s RLF course is a three-day session designed to assist community professionals in effectively designing and administering a local public loan portfolio. The course also examines the requirements that must be met before a loan is approved for a borrower and investigates the requirements for monitoring the loan and making sure that all conditions are met after the loan is made. Specific topics include:
Revolving Loan Fund Design
- Identifying local needs and RLF goals
- Organizational structure and capitalization
- Quantifying the level of financial risk
- Operating policies and procedures
- Marketing the RLF to borrowers and bankers
- Deal structuring and subordination
Credit and Collateral Analysis
- Using credit analysis to assess company operations and debt capacity
- Cash flow lending
- Personal financial statements
Closing and Documenting Loans
- Pre-closing conference
- Loan documents
- Valuing collateral and guarantees
Servicing and Portfolio Management
- Designing a loan monitoring and servicing system
- Using a loan classification system
- Protecting collateral
Workout Strategies
- Innovative workout strategies
- Lien positions in bankruptcy
- Liquidation and foreclosure
CDBG Compliance
- Low and moderate income benefit
- Job tracking
- Underwriting requirements
- Davis-Bacon
- Program income issues
- Project administration
- Micro-loan requirements
- Program reporting
Prerequisite: None
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