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pdfSURVEY QUESTIONS FOR STATE AND LOCAL ECONOMIC DEVELOPMENT AUTHORITIES —
(For October Open‐Forum Discussion)
1) What is currently the most difficult portion of an economic development funding
package for the borrower to come up with? (select one response)
Loan from private lender
Guarantees/credit enhancements
Gap financing
Equity
Other
2) What do you view as the biggest hurdle to obtaining economic development
financing? (select one response)
Cost (interest rates, fees, short amortization) of private loan
Subordination
Collateral
Lack of private credit
Lack of public credit
Other
3) What would be useful attributes of private economic development funding that would
complement your agency’s programs? (check all that apply)
Long‐term funding
Short‐term/bridge funding
Fixed‐rate funding
Funding for premises
Funding for equipment
Funding for permanent working capital
Subordination
Guarantees/Credit enhancements
Equity
Small loans
Other
4) What do you see as the more critical needs for economic development? (check all
that apply)
Rural Areas
Urban Areas
Particular states or regions of the country (please specify)
Small businesses
Expansion of medium businesses
Redevelopment of declining areas
Development of new areas
Sustaining existing communities
Development of new industries (e.g., “green” products and services) to replace declining
industries
Micro and small business incubation
5) What do you view as the most important industries for economic development
funding (please rank from 1 = most important to 7 = least important)
Commercial
Industrial
Manufacturing
Farming/agribusiness
Social Services
Public facility projects and activities
Public or private infrastructure projects such as roads, utilities and sewers
6) Does your agency primarily focus on? (please rank 1 = most important, 2 = very
important, 3 = important)
Revitalizing declining areas
Businesses in newly developing areas
Sustaining existing communities
7) Does your agency primarily use economic development financing for? (please rank 1=
most important, 2 = very important, 3 = important, 4 = somewhat important)
Small businesses (SBA defined)
Expansion of medium businesses
Relocations of large businesses from other areas
Farms and agribusinesses
8) Please check the purposes of business credit for which there is unmet demand in your market.
(Please rank from 1 = most important to 5 = somewhat Important?
Premises
Equipment
Expansion
Permanent Working Capital
Other(please specify)
9) Do you restrict funding for any of these purposes?
• No
• Yes (please specify)
10) What do you think are the three most useful attributes of your program for borrowers
(e.g., no restriction on working capital, fixed interest rate, etc.)? (Comment Box)
11) What do you think are the three most difficult requirements of your program for
borrowers to meet (e.g., equity requirements, collateral requirements, subordination
requirements, minimum loan amounts)? (Comment Box)
12) What is the biggest economic problem your market has faced in the past two years?
(please select only your top three)
Decline of a major industry (e.g., auto) – If selected, please identify the major industry in the
“other” field below.
Decline in Private sources
Decline in Government sources
More restrictive credit requirements
General decline in small business activity
High unemployment
Lack of public infrastructure to support development
Lack of local government concessions (e.g., tax abatements)
Other (please specify):
13) What do you view as the most important industries for economic development funding?
(please rank from 1 = most important to 7 = least important)
Commercial
Industrial
Manufacturing
Farming/agribusiness
Social Services
Public facility projects and activities
Public or private infrastructure projects such as roads, utilities and sewers
14) Please describe the types of economic development initiatives that will require long‐term
financing, create jobs and spur economic growth (e.g., hospitals, fire companies, energy
and/or telecommunications industries): (Comment Box)
15) What types of economic development initiatives have been successful in your
organization’s service area, for example, initiatives that have created jobs in certain
industries (green jobs, energy), provided for social services (parks, day care centers), and/or
located in a specific geographical area (unemployment, population loss census tracts, or
empowerment zone etc.) (Comment Box)
16) Are you familiar with the FHLBanks’ targeted economic development programs which
advances funds to banks and thrifts to lend to businesses and organizations for economic
development activities? (Select one response)
Never heard of the program
We regularly partner with FHLBank member lenders
Member lender regularly uses FHLBank economic development programs
Do not know if this funding is provided through special FHLBank economic development
programs
17) Which type of financial assistance from the Federal Home Loan Banks might be of
potentially greatest use to the grantees/borrowers/beneficiaries of your
agency/department? (Please rank from 1 = highest to 4 = lowest).
Loan
Letter of Credit
Grant
Guarantee
18) How could the FHLBanks programs used for economic development be improved? Please
consider use of funding for targeted economic development programs. (Comment Box)
File Type | application/pdf |
File Title | SURVEY QUESTIONS FOR STATE AND LOCAL ECONOMIC DEVELOPMENT AUTHORITIES |
Author | Deattra Perkins |
File Modified | 2010-08-18 |
File Created | 2010-08-18 |