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 $861,310 Project Grant under the Economic Adjustment Assistance program to capitalize a revolving loan fund and provide administrative costs. The grant will capitalize a $775,179 revolving loan fund to provide loans to borrowers in South Plains Association of Governments, Panhandle and Permian Basin regions of Texas. It will also provide $86,131 to the South Plains Association of Governments to cover the costs of...
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 $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 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...
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...
This $300,000 Project Grant award from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program (CFDA 21.020) supports the Gulf Coast Economic Development District, Inc., a U.S. local government entity structured as a community development corporation and council of governments. The funding will enable the organization to deliver a range of economic development initiatives and technical assistance programs across a 13-county region in southeast Texas,...
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 Department of Commerce Economic Development Administration awarded a $2.7 million Project Grant to Three Rivers Planning & Development District under the Economic Adjustment Assistance program. The grant capitalizes a revolving loan fund to provide loans to businesses in eight counties in northern Mississippi impacted by the COVID-19 pandemic. The funding will also cover administrative costs of managing the revolving loan fund through September 2024. By providing permanent financing...