EDA: $3 Million in CARES Act Recovery Assistance Invested to Increase Export Opportunities at Port of Port Arthur, TX
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million CARES Act Recovery Assistance grant to the Port of Port Arthur Navigation District, Port Arthur, Texas, to construct a new cargo handling, staging, and transport area that will enhance the Port’s capacity to handle exports….
EDA: $2.7 Million Invested to Support Growth of Technology Manufacturing Sector in Hancock, MI
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.7 million grant to the city of Hancock, Michigan, to provide flood resilient infrastructure for a new a business and technology park that will house technology and technology-driven light manufacturing businesses. This EDA project, to be matched…
EDA: $2.4 Million in CARES Act Recovery Assistance Invested to Establish Revolving Loan Fund to Assist Disadvantaged Entrepreneurs in NY and NJ
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.4 million CARES Act Recovery Assistance grant to BOC Capital Corporation, Brooklyn, New York, to capitalize and administer a Revolving Loan Fund that will provide critical gap financing to disadvantaged entrepreneurs in minority communities in New York…
EDA: $2 Million Invested to Support Business Retention and Growth Efforts in Carrollton, KY
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the city of Carrollton, Kentucky, to support construction of a critical gas pipeline necessary for current and future economic growth and to keep businesses operating through natural disasters. This EDA grant, to be…
EDA: $1.78 Million in CARES Act Recovery Assistance Invested to Support Growth of Tourism Sector in Angoon, AK
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.78 million CARES Act Recovery Assistance grant to the city of Angoon, Alaska, to support growth of the region’s tourism economy. This EDA grant is expected to create 22 jobs and generate $450,000 in private investment. “COVID-19…
EDA: $900,000 Invested to Support Revitalization of Downtown Bladenboro Business District in Elizabethtown, NC
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $900,000 grant to Bladen’s Bloomin’ Agri-Industrial, Inc., (BBAI), Elizabethtown, North Carolina, to support the economic revitalization of the city’s downtown Bladenboro business district. This EDA grant, to be matched with $600,000 in local investment, is expected to create 44. “The Economic Development…
FEMA: President Biden Approves Major Disaster Declaration for New Jersey
FEMA announced that federal disaster assistance has been made available to the state of New Jersey to supplement state and local recovery efforts in the areas affected by severe winter storm and snowstorm from Jan. 31 to Feb. 2, 2021. Federal funding is available to state and eligible local governments and certain private nonprofit organizations on…
FHFA: New Refinance Option Announced for Low-Income Families with Enterprise-Backed Mortgages
The Federal Housing Finance Agency (FHFA) announced today Fannie Mae and Freddie Mac (the Enterprises) will implement a new refinance option for low-income borrowers with Enterprise-backed single-family mortgages. Eligible borrowers will benefit from a reduced interest rate and lower monthly payment. FHFA estimates that borrowers who take advantage of the new refinance option could save…
CFPB: Consumer Complaint Bulletin Examines County-Level Demographic Data
The Consumer Financial Protection Bureau (CFPB) issued a bulletin today analyzing complaints submitted by consumers in counties nationwide. In 2019 and 2020, the CFPB received more complaints on a per-capita basis from consumers living in predominantly minority counties than from consumers in predominantly white, non-Hispanic counties. Consumers in counties with the highest percentage of minority…
CDFI Fund: FY 2021 Small Dollar Loan Program Round Opens for Applications
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2021 funding round for the Small Dollar Loan Program (SDL Program) today. SDL Program funding is intended to expand consumer access to financial institutions by providing alternatives to high cost small dollar lending. The SDL Program funding…