Spotlight: EDA’s Revolving Loan Program: Supporting Small Businesses

Today, there are 520 EDA-funded Revolving Loan Funds (RLFs) operating nationwide with a total of $267 million available for lending at below-market interest rates to small businesses that are unable to borrow from commercial banks.

These RLFs have made more than 37,500 loans to American small businesses and have leveraged more than $16 billion non-RLF dollars. RLF recipients report that the program has contributed to creating or retaining more than 662,000 jobs.

EDA’s Regional Offices provide competitive grants through the agency’s Economic Adjustment Assistance (EAA) Program to fund the creation of RLFs in eligible communities as well as to increase the amount of funds available for lending in existing RLFs.

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Success Story: Jobs, Capital and Ecosystems: The Regional Innovation Strategies Program Shows Results

EDA’s Regional Innovation Strategies (RIS) program support’s cluster-focused innovation activities that spur job creation and economic growth.

Since the first RIS program grants were made in 2015, EDA has awarded more than $40 million across three funding rounds to support organizations working to help entrepreneurs bring new technologies to market. But it’s not just the federal investment making a big difference—the program requires grantees to pull together a minimum one-to-one match for every Federal dollar invested, ensuring that key community stakeholders have skin in the game.

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Highlight: EDA’s Trade Adjustment Assistance for Firms (TAAF) Program Key to Helping Import-Impacted Businesses Regain Their Competitiveness

If you think your business has been hurt by increasing imports, we encourage you to contact the EDA-funded Trade Adjustment Assistance Center (TAAC) that serves your state to explore applying for TAAF assistance. There is no charge for technical assistance in applying for the program. Visit the TAAF/TAAC Contact Page to find the TAAC that serves your state.

Through a nationwide network of 11 EDA-funded TAACs, EDA’s TAAF program provides critical technical assistance to import-impacted manufacturers to help them strengthen their global competitiveness.

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On February 28, Wilbur L. Ross, Jr. was sworn in as 39th Secretary of Commerce. Secretary Ross will be the principal voice of business in the Trump Administration, ensuring U.S. entrepreneurs and businesses have the tools they need to create jobs and economic opportunity.

EDA Value Proposition image

Have you seen EDA’s Value Proposition Statement, which explains the value of the work we do to create conditions for economic growth?

FY 2017 EDA University Center Competition Announced

EDA holds a competition each year for two of its six Regional Offices to award multi‑year investments to selected University Centers (UCs). In FY 2017, EDA is holding the competition in its Atlanta and Seattle Regional Offices.

Links to both funding announcements may be found here:

Atlanta Regional Office FFO

Seattle Regional Office FFO

The 7th Americas Competitiveness Exchange on Innovation and Entrepreneurship provides the opportunity to experience first-hand advanced technology centers, innovation hubs, public-private partnerships, and strategic investments in Central Texas. The dates for the event are April 2-7, 2017.

Rural Startup Creates Innovative First Down Marker with AU EDA Assistance (PDF): Through program marketing efforts, Hutch Hammond (Vice President of Operations, Victory Game Clocks) heard about Auburn’s EDA University Center program and with student involvement a new, innovative sports product was born!