U.S. Senators Steve Daines and Jon Tester have announced that the Economic Development Administration (EDA) will be directing $3,900,000 through the EDA’s CARES Act Recovery Assistance program and $11,209,000 through the EDA’s CARES Act Recovery Assistance Revolving Loan Fund (RLF) to support Montana communities, small businesses and jobs amid the ongoing COVID-19 pandemic.
“This funding is about empowering Montana small business owners whose operations have been impacted by the ongoing COVID-19 pandemic and strengthening our local communities,” Daines said. “I will continue working to ensure our small business owners get the help and support they need to get through these challenging times.”
“The coronavirus pandemic has hit Montana’s economy hard, and our local small businesses need all the support they can get to weather this storm,” Tester said. “I fought to secure these funds so that Montana Economic Development Organizations have the tools they need to help Main Street businesses all across our state keep the lights on and continue serving their communities during the outbreak, and I will keep working to make sure all Montanans have the support and resources they need to survive this crisis.”
This funding will provide a wide range of financial assistance to eligible Montana communities and regions as they respond to and recover from the impacts of the ongoing COVID-19 pandemic. Additionally, the RLF program will provide critical gap financing to Montana small businesses and entrepreneurs adversely affected by the COVID-19 pandemic.
For more information on the EDA CARES Act Recovery Assistance program, click HERE.
For a breakdown of the funding , click HERE.