Local government can provide a short term loan to certain types of for-profit companies that need funds for start-up or expansion and have exhausted other sources.
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Through this program, cities and counties can design a revolving loan program to help small businesses grow or to facilitate other revitalization/redevelopment projects that will result in job creation or retention. By providing funds to local governments (or sponsored eligible non-profit organization sub-applicants) to establish a revolving loan program, communities can promote the development of small businesses or facilitate other revitalization/redevelopment activities. The applicant is encouraged to design their program in a manner to best meet the area’s needs.
From addressing local health and safety concerns to improving local facilities such as senior centers and community centers, CDBG programs are designed to support your community's wellbeing and greater capacity for growth. Grants are available in a variety of categories and can be utilized for a variety of community development initiatives.
This program helps communities establish or improve local water or sewer systems. Grants may be used for construction that is related to water treatment and distribution, and sewer treatment and collection for publicly owned systems.
In 2018, the U.S. Congress created Community Development Block Grant Mitigation (CDBG-MIT) funds to help states impacted by disasters that happened from 2015 to 2017. In August 2019, the U.S. Department of Housing and Urban Development (HUD) released the rules for how states can use CDBG-MIT funds.
Because of damage from storms like the 2017 floods, HUD made $41.5 million in CDBG-MIT funds available to Missouri.