U.S. Department of Commerce Invests $17.8 Million in CARES Act Funding to Capitalize Revolving Loan Funds to Help Small Businesses Across Massachusetts Respond to Coronavirus
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $17.8 million in CARES Act Recovery Assistance grants to capitalize and administer Revolving Loan Funds (RLFs) that will provide critical gap financing to small businesses and entrepreneurs adversely affected by the coronavirus pandemic across Massachusetts.
The EDA investments announced today are:
- Massachusetts Growth Capital Corporation, Charlestown, Massachusetts, will receive a $4.1 million EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF that will provide loans to coronavirus-impacted businesses throughout Massachusetts.
Read more atEDA.gov