The $18.6 million in CARES Act Recovery Assistance grants will provide gap financing to small businesses and entrepreneurs that have been adversely affected by the coronavirus pandemic across Texas.
Among the EDA investments announced are:
- Brazos Valley Council of Governments in Bryan, will receive a $275,000 grant for coronavirus impacted small businesses in Washington, Brazos, Burleson, Grimes, Leon, Madison, and Robertson counties.
- Gulf Coast Economic Development District, will receive a $1.7 million EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF to provide loan to coronavirus impacted small businesses including: Austin, Colorado, Montgomery and Waller counties.
- CEN-TEX Certified Development Corporation will receive a $550,000 to capitalize and administer an RLF to provide loans to coronavirus impacted small businesses in: Colorado, Burleson, Fayette, Lee and Waller counties.
Governor Greg Abbott says, “This funding will strengthen Texas’ economic recovery efforts as we respond to COVID-19.”
The governor adds, “Small businesses and entrepreneurs across the state are vital to Texas’ economic success, and need all the help they can get as they adapt to the pandemic.”