EDA Formally Approves Funding
The U.S. Economic Development Administration gave formal approval to the new EDA-RLF-CARES fund. $500,000 will be available for loans to assist local businesses impacted by COVID-19.
This EDA-RLF-CARES will initially be available for response to COVID-19. As it revolves, the funding will be a permanent part of the City’s loan resources following the same rules as the existing EDA-RLF.
The flexibility will last until July 2022 or until the $500,000 has been lent.
Potential applicants are asked to contact Karina at the Indiana Small Business Development Center (ISBDC) at 812-425-7232 or khampton@isbdc.org.
Karina will set up an appointment with a business counselor who will then assist with compiling the information for the loan applications and then submitting them to the Department of Metropolitan Development (DMD) who will present it to the Loan Administration Board.
More assistance is available at assistance.reopenevansville.com.
