The U.S. Department of Commerce Economic Development Administration (EDA) awarded a $1.44 million Project Grant to the Columbus-Franklin County Finance Authority on July 26, 2022 under the Economic Adjustment Assistance (CFDA 11.307) federal grant program. The funding will capitalize a revolving loan fund (RLF) to provide small businesses in Columbus and Franklin County, Ohio with critical capital to recover from losses incurred during the ongoing COVID-19 pandemic and increase economic...
This $2 million Economic Adjustment Assistance award from the Department of Commerce's Economic Development Administration will capitalize a revolving loan fund administered by Valley Economic Development Partners Inc. to support small businesses and entrepreneurs in Trumbull and Mahoning Counties, Ohio. The revolving loan fund aims to promote economic recovery in the region that has experienced long-term economic distress exacerbated by recent coal-fired power plant closures. By providing...
The Department of Commerce Economic Development Administration (EDA) awarded a $6,879,914 Project Grant to the Urban League of Metropolitan St. Louis, Inc. under the Investments for Public Works and Economic Development Facilities program (CFDA 11.300). The grant funds will support construction of the Urban League Plaza and Innovation Center, which will offer workspace and business development services targeting underserved minority and women entrepreneurs in the St. Louis, Missouri region....
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...
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...
This U.S. Department of Commerce Economic Development Administration (EDA) Project Grant award of $2,684,252 supports the Greater Nashville Regional Council in establishing a Revolving Loan Fund (RLF) to serve small businesses across 13 counties in northern Middle Tennessee. The RLF will provide financing to small businesses facing barriers to obtaining traditional SBA and bank loans, enabling them to grow, create new jobs, and strengthen the regional economy. The EDA's Economic Adjustment...
The Department of Commerce Economic Development Administration (EDA) awarded a $3.6 million Project Grant to the South Central Planning and Development Commission, Inc. to establish a revolving loan fund (RLF) under the Economic Adjustment Assistance (EAA) program. The RLF will provide gap financing for business lending to enable economic recovery from the impacts of the COVID-19 pandemic in Houma, Louisiana. Once implemented, the RLF will provide permanent resources and access to working...
The Department of Commerce Economic Development Administration awarded a $3 million Project Grant to the Toledo-Lucas County Port Authority Inc.'s Seaport Division on February 18, 2021 under the Economic Adjustment Assistance program. The grant will support the Regional RLF, a revolving loan fund that provides financing to businesses and communities in the Toledo, Ohio region experiencing adverse economic impacts. The Economic Adjustment Assistance program aims to aid regions facing sudden or...
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 $4.5 million Economic Development Administration Project Grant awarded by the Department of Commerce will support the Workroom Program Alliance's renovation of 33,000 square feet within Cleveland's Collinwood High School for adult technical training and workforce development programming focused on manufacturing skills. The Economic Adjustment Assistance program aims to aid regions experiencing adverse economic changes, and these funds are expected to annually serve 200 residents of...