Southeast Mo. Regional Planning Commission to receive $1M for small businesses affected by pandemic

Southeast Mo. Regional Planning Commission to receive $1M for small businesses affected by pandemic
The businesses in Bollinger, Cape Girardeau, Iron, Madison, Perry, St. Francois and Ste. Genevieve Counties can receive loans to support their economic growth. (Source: Pixabay)

SOUTHEAST MISSOURI (KFVS) - The Southeast Missouri Regional Planning Commission will receive $1 million in federal funding for small businesses affected by the COVID-19 pandemic.

The businesses in Bollinger, Cape Girardeau, Iron, Madison, Perry, St. Francois and Ste. Genevieve Counties can receive loans to support their economic growth.

Other Missouri commissions receiving funding include:

  • Boonslick Regional Planning Commission, Warrenton, Missouri, will receive a $1.1 million EDA CARES Act Recovery Assistance grant to assist small business owners and entrepreneurs with the needed capital to grow by capitalizing and administering an RLF to provide loans to coronavirus impacted businesses in Lincoln, Montgomery, and Warren counties.
  • Economic Development Corporation of Kansas City, Kansas City, Missouri, will receive a $967,989 EDA CARES Act Recovery Assistance grant to provide access to capital and resources to distressed small businesses by capitalizing and administering an RLF to provide loans to coronavirus impacted businesses in Jackson, Platte, Cass, and portions of Clay counties.
  • Meramec Regional Planning Commission, St. James, Missouri, will receive an $858,000 EDA CARES Act Recovery Assistance grant to support small business economic development by capitalizing and administering an RLF to provide loans to coronavirus impacted businesses in Dent, Crawford, Gasconade, Maries, Osage, Phelps, Pulaski, and Washington counties.
  • St. Louis Economic Development Partnership, Clayton, Missouri, will receive a $704,000 EDA CARES Act Recovery Assistance grant to assist small businesses with retaining jobs by providing loans to support coronavirus impacted businesses in St. Louis County, Missouri.
  • Lake of the Ozarks Council of Local Governments, Camdenton, Missouri, will receive a $550,000 EDA CARES Act Recovery Assistance grant to assist local lenders and businesses to obtain financing for business economic development growth by capitalizing and administering an RLF to provide loans to small business impacted by coronavirus in Camden, Laclede, Miller, and Morgan counties.

The money is part of a total of $5.2 million in CARES Act recovery assistance from the U.S. Department of Commerce’s Economic Development Administration. It will capitalize and administer Revolving Loan Funds to provide gap financing to small businesses and entrepreneurs that have been affected by the pandemic across Missouri.

These current EDA RLF grantees are some of the more than 850 existing, high-performing EDA RLF, Economic Development District, University Center, and Tribal grant recipients invited to apply for supplemental funding under the CARES Act.

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