Rep. Schrader Announces CARES Act Funds for 5th District Small Businesses to Respond to the Coronavirus

Press Release

Today, Rep. Schrader announced the award of nearly $14 million in CARES Act grants to Fifth District small businesses through the Economic Development Administration (EDA). These funds will provide urgently needed financing to small businesses and entrepreneurs who have been impacted by the coronavirus pandemic.

"Small businesses are the lifeblood of Oregon's economy and these funds will help hardworking business owners keep their doors open and employees taken care of during these challenging times," said Rep. Schrader. "I am glad to see these CARES funds being distributed quickly and going directly into the hands of Oregonians who need them the most."

The EDA investments announced today are:

· Oregon Business Development Department, Salem, Oregon, will receive an $11 million EDA CARES Act Recovery Assistance grant to provide financing to small businesses impacted by the coronavirus pandemic by capitalizing and administering an RLF to serve businesses in all cities and counties in the state of Oregon.

· Mid-Willamette Council of Governments, Salem, Oregon, will receive a $2.57 million EDA CARES Act Recovery Assistance grant to assist small businesses with expanding or starting new ventures by capitalizing and administering an RLF to provide loans to coronavirus impacted businesses in Marion, Polk and Yamhill counties.

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