lewisma9 at pilot.msu.edu
02-19-1999, 12:11 PM
Hello:
You might also be interested in looking at some of the research on RLFs
produced in the past few years, especially from the Corporation for
Enterprise Development (CFED).
best regards,
Maryellen Lewis
Program Leader/Community Capital
MSU Center for Urban Affairs
1801 W. Main Street
Lansing MI 48915
Johnson, Barbara. "A report on attracting capital to a regional loan fund:
Financial modeling and risk reduction techniques." Berkeley, CA: CA
Regional Capital Project, Berkeley: Department of City and Regl Planning,
UC Berkeley, 1998.
Levere, Andrea, Daphne Clones, and Kent Marcoux. Counting on local capital:
A research project on revolving loan funds. Washington, DC: Corporation
for Enterprise Development, 1997.
Moncrief, A.C. "Peer approved revolving loans." Economic development review
Spring 1992: 82-83.
National Development Council. Revolving loan funds: Design, documentation
and administration. New York: Author, 1989.
Rapoza, Robert A., and Alison Feighan. "Revolving loans for rural America:
A history and assessment of the Rural Development Loan Fund and the
Intermediary Relending Program." Washington, DC: Center for Community
Change, 1993.
Walker, J. Christopher. "Revolving funds for economic development."
Financing economic development: An institutional response. Eds. Richard D.
Bingham, Edward W. Hill and Sammis B. White. Newbury Park, CA: Sage
Publications, 1990.
~~~~~~~~~~~~~~~~~~~
At 08:17 AM 2/19/99 EST, you wrote:
>Response to Norm MacIssac
>
>Dear Colleagues,
>
>I'm not an authority on RLFs, but I am told that the U.S. Economic
>Development Administration has a very good record with RLFs actually
>surviving without additional capitalization. I should make two important
>caveats on this. Some of our RLFs are in areas responding to defense
>downsizing, which are not necessarily severely disadvantaged communities.
>Consequently, we may be "creaming" results to a small degree. However, our
>non-defense RLFs seem to be very sustainable as well, and they are required
>to be in distressed areas (based on income and unemployment statistics).
>Second, we do a less than perfect job of tracking the RLFs that do fail.
>While we have recapitalized some RLFs, it is usually to meet greater
>demand.
>
>EDA was one the first agencies in the US to use RLFs, and has been
>expanding their use as budget allows. In addition to defense adjustment,
>our other major RLF categories are for general economic adjustment, and for
>recovery from natural disasters. Recently, we have also been experimenting
>with selling economic development RLF loans in secondary markets. Several
>securitizations have already occurred, and we are considering expanding the
>practice, although this is an area of evolving policy. We do have one
>recent evaluation of our Defense Adjustment RLFs, and a second evaluation
>of our total RLF program is being undertaken currently. The first
>evaluation can be obtained by calling our office (listed below). The
>second one won't probably be out until early next year.
>
>Best Wishes,
>
>Kelly Robinson
>Research and National Technical Assistance
>U.S. Economic Development Administration
>Room 7019
>U.S. Dept. of Commerce
>Washington, DC 20230
>(202) 482-4085
>email: krobinson2@doc.gov
>
>
>
This post transferred from the cdb-l mailing list
You might also be interested in looking at some of the research on RLFs
produced in the past few years, especially from the Corporation for
Enterprise Development (CFED).
best regards,
Maryellen Lewis
Program Leader/Community Capital
MSU Center for Urban Affairs
1801 W. Main Street
Lansing MI 48915
Johnson, Barbara. "A report on attracting capital to a regional loan fund:
Financial modeling and risk reduction techniques." Berkeley, CA: CA
Regional Capital Project, Berkeley: Department of City and Regl Planning,
UC Berkeley, 1998.
Levere, Andrea, Daphne Clones, and Kent Marcoux. Counting on local capital:
A research project on revolving loan funds. Washington, DC: Corporation
for Enterprise Development, 1997.
Moncrief, A.C. "Peer approved revolving loans." Economic development review
Spring 1992: 82-83.
National Development Council. Revolving loan funds: Design, documentation
and administration. New York: Author, 1989.
Rapoza, Robert A., and Alison Feighan. "Revolving loans for rural America:
A history and assessment of the Rural Development Loan Fund and the
Intermediary Relending Program." Washington, DC: Center for Community
Change, 1993.
Walker, J. Christopher. "Revolving funds for economic development."
Financing economic development: An institutional response. Eds. Richard D.
Bingham, Edward W. Hill and Sammis B. White. Newbury Park, CA: Sage
Publications, 1990.
~~~~~~~~~~~~~~~~~~~
At 08:17 AM 2/19/99 EST, you wrote:
>Response to Norm MacIssac
>
>Dear Colleagues,
>
>I'm not an authority on RLFs, but I am told that the U.S. Economic
>Development Administration has a very good record with RLFs actually
>surviving without additional capitalization. I should make two important
>caveats on this. Some of our RLFs are in areas responding to defense
>downsizing, which are not necessarily severely disadvantaged communities.
>Consequently, we may be "creaming" results to a small degree. However, our
>non-defense RLFs seem to be very sustainable as well, and they are required
>to be in distressed areas (based on income and unemployment statistics).
>Second, we do a less than perfect job of tracking the RLFs that do fail.
>While we have recapitalized some RLFs, it is usually to meet greater
>demand.
>
>EDA was one the first agencies in the US to use RLFs, and has been
>expanding their use as budget allows. In addition to defense adjustment,
>our other major RLF categories are for general economic adjustment, and for
>recovery from natural disasters. Recently, we have also been experimenting
>with selling economic development RLF loans in secondary markets. Several
>securitizations have already occurred, and we are considering expanding the
>practice, although this is an area of evolving policy. We do have one
>recent evaluation of our Defense Adjustment RLFs, and a second evaluation
>of our total RLF program is being undertaken currently. The first
>evaluation can be obtained by calling our office (listed below). The
>second one won't probably be out until early next year.
>
>Best Wishes,
>
>Kelly Robinson
>Research and National Technical Assistance
>U.S. Economic Development Administration
>Room 7019
>U.S. Dept. of Commerce
>Washington, DC 20230
>(202) 482-4085
>email: krobinson2@doc.gov
>
>
>
This post transferred from the cdb-l mailing list