This EDA investment supports the jefferson parish economic development and port district (jedco) with capitalizing a $1,350,000 revolving loan fund (RLF) to lend to borrowers in jefferson parish,…

The U.S. Department of Commerce Economic Development Administration (EDA) awarded a $1.5 million Project Grant to the Jefferson Parish Economic Development and Port District (JEDCO) under the Economic Adjustment Assistance (EAA) program (CFDA 11.307).

The grant will capitalize a $1.35 million revolving loan fund (RLF) administered by JEDCO to provide loans to businesses in Jefferson Parish, Louisiana impacted by the COVID-19 pandemic. An additional $150,000 will help cover administrative costs of managing the RLF. Once established, the RLF will help alleviate sudden and severe economic dislocation in the region caused by the pandemic and further the long-term economic adjustment objectives of the EDA's EAA program by providing a permanent source of capital to support economic resiliency in Jefferson Parish. The grant has a completion date of September 19, 2025.

This EDA investment supports the jefferson parish economic development and port district (jedco) with capitalizing a $1,350,000 revolving loan fund (RLF) to lend to borrowers in jefferson parish, louisiana. The project also provides $150,000 to defray the cost of administering the RLF. Once implemented, the project will help alleviate sudden and severe economic dislocation caused by the coronavirus (covid-19) pandemic, provide permanent resources to support economic resiliency, and further the long-term economic adjustment objectives of the region.