Throughout 2022, FEMA engaged with a variety of partners, including other federal agencies, to identify recommendations and successes from other revolving loan fund programs.
Through these engagements, we learned that an entity’s Revolving Loan Fund program should allow for streamlining and collaboration to prevent barriers to entry for local governments (the borrowers).
For example, it is important for entities to streamline the application process for local governments seeking loans. This will increase the revolving loan fund’s accessibility and overall participation.
We also learned that entities with less capacity and that require more technical assistance benefit from robust partnerships. Some of the most highly effective programs manage relationships and leverage partnerships with financial institutions and other organizations.
Going into future funding cycles, FEMA will continue to leverage existing communication channels to request and solicit stakeholders' participation in varying engagement opportunities with state, local and tribal governments, and other interested organizations. FEMA will also host webinars and workshops for varied public and private stakeholders, including disadvantaged communities.
FEMA intends to learn from stakeholders about how they plan to utilize the new program to develop a more effective and customer-focused program.
Comments may be submitted to FEMA-STORMRLF@fema.dhs.gov.