The U.S. Department of Commerce’s Economic Development (EDA) administration has awarded over $10 Million in CARES Act Funding to support economic development and economic recovery in response to the coronavirus pandemic. Investments include:
- September 11, 2020 – U.S. Department of Commerce Invests $68,250 in CARES Act Recovery Funds to Support Entrepreneurial Growth Efforts in West Michigan
- September 10, 2020 – U.S. Department of Commerce Invests $22.8 Million in CARES Act Funding to Capitalize Revolving Loan Funds to Help Small Businesses Across Eastern New York Respond to Coronavirus
- September 10, 2020 – U.S. Department of Commerce Invests $6.8 Million in CARES Act Funding to Capitalize Revolving Loan Funds to Help Small Businesses Across North Dakota Respond to Coronavirus
- September 10, 2020 – U.S. Department of Commerce Invests $3.6 Million in CARES Act Funding to Capitalize Revolving Loan Fund to Help Small Businesses in Iowa Respond to Coronavirus
- September 9, 2020 – U.S. Department of Commerce Invests $19 Million in CARES Act Funding to Capitalize Revolving Loan Funds to Help Small Businesses Across Western New York Respond to Coronavirus
- September 9, 2020 – U.S. Department of Commerce Invests $550,000 in CARES Act Funding to Capitalize Revolving Loan Fund to Help Small Businesses in Wisconsin Respond to Coronavirus
- September 9, 2020 – U.S. Department of Commerce Invests $300,000 in CARES Act Funding to Boost Iowa State University of Science & Technology’s Capacity to Help Communities and Businesses Respond to and Recover from Economic Impact of Coronavirus Pandemic
- September 9, 2020 – U.S. Department of Commerce Invests $299,616 in CARES Act Funding to Boost the University of Montana’s Capacity to Help Communities and Businesses Respond to and Recover from Economic Impact of Coronavirus Pandemic
The CARES Act, signed into law by President Donald J. Trump, provides EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to the coronavirus pandemic.
On May 7, Secretary Ross announced that EDA is accepting applications for CARES Act Recovery Assistance funding opportunities.
EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) (PDF) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic. For complete information, please visit our recently updated EDA CARES Act Recovery Assistance page.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.