$1.3M Rapid Response Grant

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$1.3M Rapid Response Grant

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EDFC Receives $1.3M in Small Business Loan Funds for Covid Relief
On June 15th, the Ukiah-based Economic Development & Financing Corporation was awarded $1.3M dollars in Covid relief funds awarded by the U.S. Department of the Treasury through their Community Development Financing Institutions Rapid Response Program. (CDFI RRP)

The awards were announced by Vice President Kamala Harris at the White House with Treasury Secretary Janet L. Yellen. There are 68 grant recipients in California. EDFC is 1 of 41 Community Development Financial Institutions (CDFIs) to be awarded funds.

“These funds provide necessary capital for CDFIs to respond to economic challenges created by the COVID-19 pandemic, particularly in underserved communities”, said Robert Gernert, EDFC Lending Manager.

Overall, the U.S. Department of the Treasury awarded $95.11 million in COVID-19 relief funds to community development financial institutions (CDFIs) in California.

EDFC is lending the funds to qualifying small businesses. To apply, visit edfc.org/loan-programs