Empowering Economic Recovery and Sustainability in Tribal Communities

Overview

As a result of the COVID-19 pandemic, the U.S. Department of the Treasury oversees a Federal assistance program to fund State, Municipal, and Tribal debt/equity programs.

The subsidy program funds small business debt and equity financing programs, which includes capital access programs, loan participation, loan guarantee, collateral support, and venture equity programs. This critical program is helping address the economic fallout of the pandemic and lay the foundation for a strong and equitable recovery by providing direct support to jurisdictions through programs that increase access to credit for small businesses.

Our Approach

RiverNorth provides advisory and programmatic support to the subsidy program. We design technical assistance and communications plans to support the completion of program applications and implementation of the funded programs. We provide subject matter expertise related to eligibility and approval criteria, standards and requirements for participation of lenders and investors, alignment of the program with the requirements for Federal financial regulatory authorities, and metrics and methodologies for measuring the success of technical assistance to small businesses.

Results

We have supported 40+ government entities in developing programs and applying for $500M in funding.

We also significantly reduced aspects of the application review timeline, cutting down the overall time spent on an application from several months to less than two weeks. This most notably helped uncover and resolve key program issues to encourage maximum program participation.