Project Grant ED25SEA0G0027
Award Date 12/16/24
Completion Date 6/30/26
Dollars Obligated $500K
Federal Agency
Federal Grant Program
Assistance Type
Project Grant
Place of Performance
Salem, OR 97301, USA
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THIS PROJECT SUPPORTS THE MID-WILLAMETTE VALLEY COUNCIL OF GOVERNMENTS (MWVCOG) IN PROVIDING SECURED LOANS TO EMERGING AND GROWING SMALL BUSINESSES IN UNDERSERVED COMMUNITIES RECOVERING FROM NATURAL DISASTERS AND ECONOMIC DOWNTURN THROUGHOUT POLK, YAMHILL, AND MARION COUNTIES. MWVCOG EXPECTS TO LOAN BETWEEN $50K TO $200K TO BUSINESSES SPECIALIZING IN ADVANCED MANUFACTURING, AGRICULTURAL AND FOOD PROCESSING, WOOD PRODUCTS, AND FORESTRY. WITHIN ITS 18-MONTH OPERATING SCHEDULE, MWVCOG ANTICIPATES THAT FOR EVERY $50K LENT, THE PROGRAM AIMS TO CREATE 1.5 FTE POSITIONS, LEVERAGING $500K EDA INVESTMENT INTO 15 JOBS CREATED, 15 JOBS RETAINED, AND $50K IN PRIVATE EQUITY INVESTMENT.
Posted 12/18/24
Mod # | Description | ReasonForModification | Federal Obligation | Date |
|---|---|---|---|---|
| Not listed | $400.0k | 12/18/24 |