UPDATED: Current Availability of Section 108 Financing - CDBG Entitlement and State Grantees
The Section 108 Loan Guarantee Program had to update the borrowing for Community Development Block Grant (CDBG) Entitlement Communities and States looking to pursue a Section 108 guaranteed loan.
This updated document provides information on existing borrowing capacity for CDBG Entitlement Communities and States looking to apply for Section 108 guaranteed loans. (Non-entitlement communities can apply with their State's support.) Section 108 offers state and local governments the ability to access low-cost, long-term federally guaranteed financing for housing, economic development, and infrastructure projects or loan funds. These borrowing capacity calculations are based on the FY 2020 CDBG grant awards as well as grantees' outstanding Section 108 guaranteed loans and commitments as of February 2020.