OVERVIEW: The Department of Commerce Economic Development Administration (EDA) Revolving Loan Fund provides funding for local short-term “gap” financing for business recovery in affected communities. Grantees may provide assistance to businesses that are denied Small Business Administration (SBA) Loans, or need additional financing beyond SBA’s loan limits. Local lenders have the flexibility to provide financing to supplement traditional lending; setup a local micro-lending program; or develop a local public/private infrastructure lending program to implement local business recovery initiatives.
TIMETABLE: Ongoing. See the EDA’s Application Requirements page for details.
APPLICATION PROCESS: See the EDA’s Application Requirements page for details.
FOR MORE INFORMATION: We haven’t found a great deal of information about this program on-line (have you? Post it in the comments). For now, we can only recommend heading to the Economic Development Administration’s funding page.
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