This $2 million Economic Development Administration Project Grant capitalizes a revolving loan fund to provide access to capital for small businesses and entrepreneurs recovering from the coronavirus pandemic in Boone, McHenry, and Winnebago Counties, Illinois. Administered by the Rockford Local Development Corporation, the revolving loan fund will promote job creation, retention, and economic resiliency in the region by attracting private investment through loans to borrowers. Awarded on...
The Economic Development Administration of the Department of Commerce awarded a $1,000,000 Project Grant to the Southwest Wisconsin Regional Planning Commission on March 31, 2022 under the Economic Adjustment Assistance (CFDA 11.307) federal grant program. The grant capitalizes a $1,000,000 revolving loan fund (RLF) to provide access to capital for small businesses and entrepreneurs in Grant, Green, Iowa, Lafayette, and Richland Counties in Wisconsin. The RLF will lend to borrowers recovering...
The Department of Commerce's Economic Development Administration (EDA) awarded $4.5 million to the Southeast Idaho Council of Governments, Inc. under the Economic Adjustment Assistance (EAA) program (CFDA 11.307) on May 17, 2022. The funding will support the establishment of a revolving loan fund (RLF) to provide gap financing for businesses in Oneida, Bear Lake, Franklin, Caribou, Power, Bannock and Bingham counties in southeastern Idaho. The RLF will help alleviate sudden and severe economic...
This $1.8 million Project Grant from the Department of Commerce Economic Development Administration (EDA) under the Economic Adjustment Assistance (EAA) program (CFDA 11.307) capitalizes a $1 million revolving loan fund (RLF) administered by West Central Indiana Economic Development District, Inc. (Thrive West Central). The RLF will provide loans to small businesses and entrepreneurs in Clay, Parke, Putnam, Sullivan, Vermillion, and Vigo counties in Indiana to aid economic recovery from the...
The U.S. Department of Commerce Economic Development Administration (EDA) awarded a $3.56 million Project Grant to the Maryland Department of Health Laboratories Administration under the Economic Adjustment Assistance (EAA) program. The grant capitalizes a revolving loan fund (RLF) to provide loans throughout Maryland to help small and underserved businesses recover from disruptions caused by the COVID-19 pandemic. As the source of loans, the Maryland Department of Commerce will assist...
The City of Rockford, Illinois has been awarded a $1,000,000 Project Grant from the U.S. Small Business Administration's (SBA) Congressional Grants program (CFDA 59.059) to support small business development and entrepreneurship initiatives. This 2-year federal grant, with a performance period from October 1, 2023 to September 30, 2025, will fund a range of programmatic and construction activities delivered through the City's Human Services Department. Key initiatives include counseling,...
This $1.2 million Economic Development Administration Project Grant awarded by the Department of Commerce on May 10, 2022 capitalizes a $1,027,995 revolving loan fund (RLF) and provides $93,005 for administration to support economic recovery from the COVID-19 pandemic across 13 counties in southeast Texas. Under the Economic Adjustment Assistance (CFDA 11.307) program, the Gulf Coast Economic Development District, Inc. will utilize the RLF to provide loans to businesses, with funding also used...
This $3.75 million Economic Development Administration (EDA) Project Grant under the Economic Adjustment Assistance (CFDA 11.307) program capitalizes a revolving loan fund (RLF) administered by the South Eastern Economic Development Corporation. The RLF will provide access to capital for small businesses and entrepreneurs in eight counties in Massachusetts to recover from the economic impacts of the COVID-19 pandemic and promote job creation and private investment. Awarded on April 28, 2022, the...
The U.S. Department of Commerce Economic Development Administration (EDA) awarded a $500,000 Project Grant to the Upper Minn Valley Regional Development Commission (UMVRDC) on April 5, 2022 under the Economic Adjustment Assistance (EAA) program (CFDA #11.307). The grant funds will capitalize a $500,000 revolving loan fund (RLF) to be administered by UMVRDC. The RLF will provide loans to small businesses and entrepreneurs across five counties in Minnesota - Big Stone, Swift, Lac Qui Parle,...
The Economic Development Administration awarded a $2.5 million Project Grant to Invest Aurora under the Economic Adjustment Assistance program (CFDA 11.307) on August 5, 2021. Invest Aurora, which operates as the economic development entity for the city of Aurora, Illinois, will use the funding to establish a new revolving loan fund. As a current revolving loan fund operator, Invest Aurora will administer the new fund to provide small businesses in Aurora with access to capital needed to recover...