This EDA investment supports the south central planning and development commission with establishing a revolving loan fund (RLF) to help alleviate sudden and severe economic dislocation caused by…

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 capital to further the long-term economic adjustment objectives of the region consistent with the goals of the EAA program. The funding will help alleviate sudden and severe economic dislocation caused by the coronavirus pandemic through supporting impacted businesses in Houma.

This EDA investment supports the south central planning and development commission with establishing a revolving loan fund (RLF) to help alleviate sudden and severe economic dislocation caused by the coronavirus (covid-19) pandemic in houma, louisiana. The RLF will support GAP financing business lending to enable businesses within the region to recover from the financial impacts of the covid-19 pandemic and aid in resilience against future economic disruptions. Once implemented, the project will provide permanent resources, provide access to working capital, and further the long-term economic adjustment objectives of the region.