The webinar recording is linked here and the slide deck is linked here PDF. EDA provides Economic Adjustment Assistance PDF grants to eligible recipients to capitalize or recapitalize lending programs that service businesses that cannot otherwise obtain traditional bank financing and in limited situations to governmental entities for public infrastructure. These loans provide access to capital as gap financing to enable small businesses to grow and generate new employment opportunities with competitive wages and benefits.
Financing also helps retain jobs that might otherwise be lost, create wealth, and support minority and women-owned businesses. Information on how to apply, eligibility, etc. Applications will open in late We are partnering with mission driven non-profit lenders and community development financial institutions CDFIs to administer the program.
The benefit of working with these organizations is that they:. Sign up for OEDIT's monthly newsletter, sent out at the beginning of every month that contains the latest announcements, news, programs, and events. View All Programs. The fund will focus on: existing businesses that need to restructure, redefine their business model, or recapitalize as a result of the COVID pandemic new businesses filling gaps left in a community or industry by closures resulting from the COVID pandemic entrepreneurs who experienced financial losses or other impacts from the COVID pandemic that may inhibit their obtaining capital through traditional sources people that face barriers to accessing capital from traditional sources We are partnering with mission driven non-profit lenders and community development financial institutions CDFIs to administer the program.
The benefit of working with these organizations is that they: often provide credit where normal bank underwriting and loan size limitations prevent traditional lenders from making loans have more flexible repayment and restructuring options provide more technical assistance and deeper outreach to underserved communities than traditional lenders are mission driven, so their interest rates and fees are lower than those provided by credit cards or payroll lenders support the economic advancement of populations and businesses that have lacked access to more traditional sources of capital.
Businesses may contact one of three lenders to apply for these loans. Depending on your business's location, you should apply to a specific lender. Rural and non-front range businesses should reach out to Region 9. Sign up for OEDIT's monthly newsletter, sent out at the beginning of every month that contains the latest announcements, news, programs, and events.
View All Programs. Eligible organizations include any registered for-profit business and non-profit organizations. This fund places a special focus on serving historically underserved market segments and customer groups which include: minority Native American or tribal immigrant women disabled veteran businesses in low income and rural communities employee-owned.
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