EDA: $2.5 Million in CARES Act Recovery Assistance Invested to Support Business Capital Needs in Missouri
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding $2.5 million in CARES Act Recovery Assistance grants to provide the capital needed to seed new businesses and support the growth of established businesses impacted by the coronavirus pandemic. “President Biden is committed to unleashing the full power…
EDA: $1.99 Million in CARES Act Recovery Assistance Invested to Help Establish New Hospital in Lake City, SC
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.99 million CARES Act Recovery Assistance grant to the city of Lake City, South Carolina, to make water and sewer infrastructure improvements needed to serve a new hospital building in the region. This EDA grant will be…
EDA: $1 Million in CARES Act Recovery Assistance Invested to Create Business Resource Center in Pleasanton, TX
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million CARES Act Recovery Assistance grant to the city of Pleasanton, Texas, to renovate a former downtown elementary school for use as a business center that will support economic development growth in downtown Pleasanton and provide…
EDA: $800,000 in CARES Act Recovery Assistance Invested to Boost Broadband Capacity and Business Development Efforts in Virginia
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $800,000 CARES Act Recovery Assistance grant to the Mid-Atlantic Broadband Communities Corporation, South Boston, Virginia, to increase broadband capacity in southern and central Virginia and bolster the region’s ability to withstand future economic disruptions. This EDA grant will be matched with $200,000…
EDA: $600,000 Invested to Capitalize Revolving Loan Fund to Provide Capital to Businesses in Lee and Russell Counties, AL
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $600,000 grant to Lee-Russell Council of Governments, Opelika, Alabama, to capitalize a revolving loan fund that will provide critical gap financing to new and existing small and medium-sized businesses in Lee and Russell counties. This EDA grant will be matched with $150,000…
OCC: Seven New Members Appointed to Minority Depository Institutions Advisory Committee
The Office of the Comptroller of the Currency (OCC) today named seven new members to its Minority Depository Institutions Advisory Committee (MDIAC). The MDIAC advises the OCC on steps it can take to ensure the continued health and viability of minority depository institutions and other issues of concern to these institutions. The new members are:…
ABA: New Report Shows Credit Market Conditions Improve Sharply for Consumers and Businesses
The chief economists from North America’s largest banks anticipate substantial improvement in both consumer and business credit market conditions over the next six months, according to a new report from the American Bankers Association. The Q2 2021 ABA Credit Conditions Outlook highlights the results of the ABA Credit Conditions Index. The report summarizes a suite of indices…
SBA: Deferment Period Extended for all COVID-19 EIDL and Other Disaster Loans until 2022
The U.S. Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022. All SBA disaster loans made in calendar year 2020, including COVID-19 EIDL, will have a first payment due date extended from 12-months to 24-months from the date of the note. All SBA disaster…
ABA: National Survey Shows Americans Remain Highly Satisfied with Their Bank, Value Banks’ Support During Pandemic
A year into the onset of COVID-19 in the U.S., consumers are happy with their bank and value the banking industry’s support throughout the pandemic, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The survey found that 9 in 10 Americans with a bank account (86%) say…
CDFI Fund: Important Reminders for FY 2021 CDFI Rapid Response Program, CDFI Program, and NACA Program Round Applicants
As a reminder for fiscal year (FY) 2021 Community Development Financial Institutions Program (CDFI Program), Native American CDFI Assistance Program (NACA Program), and CDFI Rapid Response Program (CDFI RRP) Applicants, the deadline for online submission of the SF-424 through Grants.gov for all three funding rounds is March 22, 2021 at 11:59 PM ET. Organizations applying for funds…