[20201102]IF11449_经济发展循环贷款基金（ED RLF） .pdf

https:/crsreports.congress.gov Updated November 2, 2020Economic Development Revolving Loan Funds (ED-RLFs) Revolving loan funds (RLFs) are instruments frequently used to finance water, wastewater, infrastructure, disaster recovery, and community development activities. RLFs can also be used for economic development purposes. Federally funded economic development RLFs (ED-RLFs) are one of many tools that public agencies and non-profit organizations use to make loans to finance small business growth, deploy capital to underserved markets, and incentivize development activity. The main advantage of using an RLF compared to other program design options is that the RLF can be configured in a way to be “self-replenishing,” thereby reducing the need for annual appropriations or up-front federal credit subsidies. This In Focus provides an overview of how ED-RLFs work, a summary of federal support for ED-RLFs, and a brief review of current issues. How Does an ED-RLF Work? Initial funding for the ED-RLF capital base and administrative expenses may come from a variety of sources, such as government agencies, foundations, or private financial markets. Federal programs support ED-RLFs by provi