Staff Report //July 29, 2020//
The U.S. Department of Commerce is awarding $14.3 million in pandemic relief funds to provide gap financing to S.C. small businesses and entrepreneurs affected by the coronavirus.
The revolving loan funds, awarded through the department’s Economic Development Administration, will go to five S.C. recipients, including the city of Columbia, which will receive a $2.9 million grant to make loans to affected businesses, according to a news release.
“These investments come at a crucial time to help South Carolina’s and our nation’s economy come roaring back and provide hard-working Americans with new opportunities,” Dana Gartzke, performing the delegated duties of the Assistant Secretary of Commerce for Economic Development, said in the release. “Small businesses are the lifeblood of our communities, and EDA is pleased to invest these CARES Act funds so that South Carolina businesses have access to capital to respond to and recover from the coronavirus pandemic.”
Other recipients: