EDA Economic Adjustment
$1.5 billion was allocated for EDA Economic Adjustment Assistance (EAA) for COVID-19 prevention and response, including for necessary expenses for responding to economic injury due to COVID-19. Eligible uses include creating or updating disaster recovery plans, construction projects, market or industry research studies, technical assistance and capacity-building, and capitalization and recapitalization of revolving loan funds (RLFs) to provide loans to small businesses.
Develop a project briefing sheet and reach out to your regional economic development representative to discuss projects and begin the application process.
FTA TRANSIT ASSISTANCE FUNDING
The FTA was appropriated $25 billion in Transit Assistance Funding in the CARES Act and will fund 100% of costs with no matching fund requirement. Eligible uses include supporting capital, operating, and other expenses to prevent, prepare for, and respond to COVID-19.
The FTA released guidelines for the $25 billion fund.
These FAQs provide clarity regarding how COVID-19 preparations impact certain FTA requirements.
SMALL BUSINESS RELIEF & ASSISTANCE
$349 billion is available in forgivable SBA Paycheck Protection Program loans to small businesses to cover payroll, employee salaries, mortgage interest, and rent and utility payments associated with COVID-19 crisis. Eligible uses include paycheck protection, grants to small business development, women and minority business centers, and debt relief options for borrowers.
This SBA loan helps businesses keep their workforce employed during the coronavirus (COVID-19) crisis.
This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
Small Business Support