CDBG-ED Revolving Loan Fund Administration

CDBG-ED/RLF program administrators provide a link between the local community and Commerce. The following guidelines and resources are provided to assist in the daily administration of your RLF.

Community Opportunities

An RLF assists the community in carrying out their community economic development goals and objectives, provides private investment towards the assisted activity, and most importantly creates job opportunities, principally for the benefit of low and moderate persons

The Department of Commerce RLF Technical Assistance Program can provide communities with administration assistance on any facet of their RLF program. Site visits are provided by the Department upon request for intensive assistance.

Commerce also offers administrative documents describing program guidelines, sample documents and links to related resources.

A Revolving Loan Fund Handbook includes an "Administrator's Guide" which "walks" the administrator through the process of the creation and capitalizing of a RLF program from marketing, application process, credit evaluation, approvals, to loan closing and documentation, as well as performance monitoring of the loan. It also includes the forms necessary for administration, closing and documentation.

Advantages to businesses are very attractive "tailor-made" loans, which may include deferred payments and interest rates. These loans are typically smaller loans which can be more efficiently administered at the local level.

Questions regarding the both the CDBG-ED and Revolving loan programs should be referred to the local Area Development Managers. Department of Commerce, 201 West Washington Avenue, P. O. Box 7970, Madison, Wisconsin 53707.

Notables

Current semi-annual report (SAR) directions provide detailed guidelines to assist with the proper completion of required reports. Instructions are updated regularly in response to your questions.

The RLF capitalization limit ("the Cap") process provides oversight to local administrators as local funds grow. CDBG-ED loans repayments accrue locally up to population-based limits. Repayments beyond the local cap are returned to Commerce to fund CDBG-ED Public Facilities projects.

Commerce Assistance

If you require direct assistance with any administrative aspect of this program, please email RLF Specialist Pete Norman or call 608-267-5100.