EDA: $800,000 Invested to Make Critical Infrastructure Improvements Needed in Oklahoma Opportunity Zone
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding an $800,000 grant to the Garfield County Industrial Authority, Enid, Oklahoma, to support business expansion plans by improving the Garfield County Industrial Park. The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $225,394 in local…
SBA and Treasury: New and Revised Guidance Regarding the Paycheck Protection Program Announced
The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP). This guidance implements the Paycheck Protection Program Flexibility Act (PPPFA), signed into law by President Trump on June 5, 2020, and expands eligibility for businesses with owners who have past…
EDA: $600,00 Invested to Establish Revolving Loan Fund to Serve Businesses in Northern Montana
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $600,000 grant to the Bear Paw Development Corporation of Northern Montana, Havre, Montana, to capitalize a Revolving Loan Fund that will provide businesses in Northern Montana with the financing they need to meet working capital needs and address potential debt restructuring. This…
SBA: Joint Statement Regarding Enactment of the Paycheck Protection Program Flexibility Act
SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today following the enactment of the Paycheck Protection Program (PPP) Flexibility Act: “We want to thank President Trump for his leadership and commend Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for working on a bipartisan basis to pass this legislation for small businesses participating in the…
Federal Reserve: Main Street Lending Program Expanded to Allow More Small- and Medium-Sized Businesses to Receive Support
The Federal Reserve Board on Monday expanded its Main Street Lending Program to allow more small and medium-sized businesses to be able to receive support. The Board lowered the minimum loan amount, raised the maximum loan limit, adjusted the principal repayment schedule to begin after two years, and extended the term to five years, providing…
EDA: $500,00 Invested to Develop Plan to Grow Disaster Resilient Economy in New Orleans, LA Opportunity Zones
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to Northeastern University, Boston Massachusetts, to develop a resilience-based strategy for economic development for three Tax Cuts and Jobs ActOpportunity Zone located in East New Orleans, Louisiana. The strategy will serve as a footprint for leveraging private investment and encouraging economic diversification….
EDA: $500,000 Invested to Support Growth of the Manufacturing and Construction Sectors Near Opportunity Zone in Albuquerque, NM
Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $500,000 grant to DreamSpring of Albuquerque, New Mexico, to support the rollout of its Expreso loan program, which will provide a new financial product to assist businesses in New Mexico and Texas. The EDA grant, to be located near a Tax Cuts and…
Federal Reserve: Announcing the Puerto Rico Nonprofit Leadership Development Initiative
The Puerto Rico Nonprofit Capacity Building Network, a collaboration among Enterprise Community Partners (Enterprise), NeighborWorks America (NeighborWorks) and Fundación Comunitaria de Puerto Rico (FCPR), today announced the six Puerto Rico nonprofits selected for the inaugural cohort of the Puerto Rico Leadership Development Initiative. The six nonprofits, representing all major regions across the island, will each receive a $35,000 grant, technical assistance, one-to-one staff mentoring, peer learning…
HUD: Nearly $120 Million Awarded to Tribes Across the Nation for Economic and Housing Development
111 projects will support economic and housing development for Native American Families This week, the U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson announced nearly $120 million in Indian Community Development Block Grant (ICDBG) awards to Tribes across the Nation. The ICDBG program provides funding to use in developing American Indian and Alaska Native…
EDA: $10 Million Invested in Florida to Support Business Recovery Efforts and Advanced Manufacturing
Today, U.S. Secretary of Commerce Wilbur Ross announced $10 million in Economic Development Administration (EDA) grants to the state of Florida during a visit to Indian River State College (IRSC) in Ft. Pierce. The two EDA grants will help recovering businesses gain access to capital and will fund the construction of a new IRSC worker…