EDA: $2.4 Million in CARES Act Recovery Assistance Invested to Support Entrepreneurial Growth Efforts in Wyoming
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $2.4 million CARES Act Recovery Assistance grant to the University of Wyoming, Laramie, Wyoming, to expand services and support for entrepreneurs across the state of Wyoming. This EDA grant, to be matched with $600,000 in local investment, is expected to create 368…
EDA: $1.75 Million Invested to Expand Raleigh County Business Park in Beaver, WV
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $1.75 million grant to Raleigh County Memorial Airport, Beaver, West Virginia, to provide critical infrastructure needed to expand the Raleigh County Business Park. This EDA grant, to be matched with $4.85 million in state and local funds, is expected to create 624…
EDA: $1.5 Million in CARES Act Recovery Assistance Invested to Establish a Revolving Loan Fund to Serve Businesses Across Delaware
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $1.5 million CARES Act Recovery Assistance grant to the Delaware Division of Small Business, Dover, Delaware, to establish and administer a Revolving Loan Fund (RLF) that will provide critical gap financing to businesses adversely affected by the coronavirus pandemic across Delaware. This…
EDA: $1.1 Million Invested to Protect Businesses from Flooding in Dayton, OH
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $1.1 million grant to the Miami Conservancy District, Dayton, Ohio, to protect the Old North Dayton area from flooding by upgrading the Greater Old North Dayton levee. This EDA grant, to be matched with $276,254 in local investment, is expected to retain…
EDA: $1 Million in CARES Act Recovery Assistance Invested to Capitalize Revolving Loan Fund to Serve Businesses Across Hawaii
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $1 million CARES Act Recovery Assistance grant to the State of Hawaii’s Department of Business, Economic Development & Tourism, Honolulu, Hawaii, to capitalize and administer a Revolving Loan Fund (RLF) that will provide critical gap financing to businesses adversely affected by the…
Census Bureau: Data on Minority-Owned, Veteran-Owned, and Women-Owned Businesses Released
The U.S. Census Bureau today released new estimates on the characteristics of employer businesses. According to the 2019 Annual Business Survey (ABS), covering reference year 2018, approximately 18.3% (1.0 million) of all U.S. businesses were minority-owned and about 19.9% (1.1 million) of all businesses were owned by women. Additional statistics released include: In the United States, the…
SBA: One Year 8(a) Program Extension Provided to Participants Due to COVID-19
Public Comments Due by March 15, 2021 The U.S. Small Business Administration published an interim final rule effective January 13, 2021 allowing 8(a) Program participants to elect a one-year program extension in the SBA’s 8(a) Business Development Program due to the challenges of COVID-19. Eligible 8(a) firms must meet the following qualifications: Any firm that participated in the 8(a) Program…
SBA: Steps Taken to Improve First Draw Paycheck Protection Program Loan Review
The U.S. Small Business Administration is taking steps to improve the First Draw Paycheck Protection Program loan review so that small businesses have as much time as possible to access much needed PPP funds. The Biden-Harris Administration is focused on ensuring small businesses receive the support they need to keep their doors open and continue to employ…
SBA: 60,000 Paycheck Protection Program Loans Approved in First Week
SBA’s dedicated access to community financial institutions helped underserved small businesses Today, the U.S. Small Business Administration announced that it has approved approximately 60,000 PPP loan applications submitted by nearly 3,000 lenders, for over $5 billion, between the program’s re-opening on Monday, Jan. 11, at 9 a.m. ET through to Sunday, Jan. 17. Last week,…
SBA: Rule Proposed to Eliminate Regulations that Exclude Faith-Based Organizations from Seven SBA Programs
Public Comments Due by February 18, 2021 The U.S. Small Business Administration invites public comment on a proposed rule designed to remove regulatory provisions that exclude certain faith-based organizations from seven business loan and disaster assistance programs. These programs include the Intermediary Lending Program (ILP), Business Loan programs (7(a), Microloan and 504 programs), Economic Injury Disaster Loan…