U.S. Senator Jerry Moran (R-Kan.) Wednesday announced that the U.S. Economic Development Administration (EDA) is awarding $3 million in CARES Act Recovery Assistance grants to capitalize and administer Revolving Loan Funds (RLFs) that will provide critical gap financing to small businesses and entrepreneurs across Kansas that have been adversely affected by the coronavirus pandemic.
“As Chairman of the Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies, I will continue to support the ongoing and critical mission of the EDA to assist the economic activity of our communities, especially during this pandemic,” said Sen. Moran. “These grants are an investment into small businesses across Kansas that support local jobs and provide invaluable resources to many communities across the region.”
“President Trump is working diligently every day to support our nation’s economy following the impacts of COVID-19 through the CARES Act,” said Secretary of Commerce Wilbur Ross. “These investments will provide small businesses across Kansas with the necessary capital to rebound from the coronavirus pandemic and, in turn, create a stronger and more resilient state economy for the future.”
“These investments come at a crucial time to help Kansas’ and our nation’s economy come roaring back and provide hard-working Americans with new opportunities,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “Small businesses are the lifeblood of our communities, and EDA is pleased to invest these CARES Act funds so that Kansas businesses have access to capital to respond to and recover from the coronavirus pandemic.”