FDIC: First-Ever FDIC Academic Challenge Launched
Teams from universities and colleges throughout the country will examine effects of community banks on local economic development The Federal Deposit Insurance Corporation (FDIC) today announced the launch of the agency’s first-ever Academic Challenge, a competition among teams of university and college students to address questions concerning the U.S. banking sector. The topic for this inaugural…
Federal Reserve: FAQs Updated to Clarify Board and Treasury’s Expectations Regarding Lending Underwriting for the Main Street Lending Program
The Federal Reserve Board on Friday updated its frequently asked questions (FAQs) to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program. The revised FAQs emphasize that lender underwriting should look back to the borrower’s pre-pandemic condition and forward to their post-pandemic prospects. The FAQs also clarify…
EDA: $1.6 Million Invested to Establish Truck Driving Workforce Training Facility in Pensacola, FL
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the District Board of Trustees of Pensacola State College, Pensacola, Florida, to help construct a truck driving training facility that will provide up-to-date instruction, simulation, and on-the-road training for students. The EDA grant,…
EDA: $1.2 Million Invested to Establish Aeronautics Workforce Training Center in Minnesota Opportunity Zone
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.2 million grant to Carlton County, Minnesota, to establish an aeronautics workforce training center to support the region’s emerging aviation industry. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched…
EDA: $10.2 Million Invested to Establish High-Tech Business Incubator at the Innovation Park in Tallahassee, FL
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $10.2 million grant to the Leon County Research and Development Authority, Tallahassee, Florida, to build a 40,000 square-foot, high-tech business incubator within the Innovation Park of Tallahassee to aid in the formation and expansion of technology businesses,…
EDA: $1.3 Million Invested for Wastewater Treatment Infrastructure in Wartburg, TN
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to the city of Wartburg, Tennessee, to install a new wastewater collection system to provide service for the Brushy Mountain Development. The EDA grant, to be matched with $317,858 in local funds, is expected…
EDA: $988,400 Invested to Support Economic Diversification and Business Growth in Northwest New Mexico Opportunity Zone
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $988,400 grant to Northwest New Mexico Council of Governments (NWNMCOG), Gallup, New Mexico, to support the second phase of the Building Resilient Communities in Northwest New Mexico program, which is helping local governments and tribal entities to diversify their economic base in…
SBA: Minnesota Investment Firm Named Small Business Investment Company of the Year
Spell Capital Mezzanine SBIC Partners II, L.P of Minneapolis, MN, has been named the 2020 Small Business Investment Company (SBIC) of the Year by the U.S. Small Business Administration as part of National Small Business Week. Spell Capital Mezzanine, along with other national winners and finalists for the National Small Business Person of the Year, will be honored…
EDA: $35 Million Invested to Fuel High-Growth Entrepreneurship Across America
Economic Development Administration’s Build to Scale Program Supports Efforts of 52 Organizations in 36 States U.S. Secretary of Commerce Wilbur Ross today announced that 52 organizations — including nonprofits, institutions of higher education, and entrepreneurship-focused organizations — from 36 states will receive grants totaling $35 million to support entrepreneurship, acceleration of company growth, and increased…
EDA: $2.9 Million Invested to Boost Business Growth Near Opportunity Zone in Marshalltown, IA
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $2.9 million grant to the city of Marshalltown, Iowa, to make infrastructure improvements needed to support industrial development. The EDA grant, to be located near a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $1.4 million…