Springfield gets $550k to help businesses impacted by COVID

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Springfield gets $550k to help businesses impacted by COVID

Sun, 08/16/2020 - 8:51pm -- tim

Vermont Business Magazine Springfield Regional Development Corporation (SRDC) has announced that they have been awarded a $550,000 EDA CARES Act Recovery Assistance grant to capitalize and administer the Springfield Area Revolving Loan Fund for loans to coronavirus-impacted small businesses in Southern Windsor County.

SRDC Executive Director Bob Flint said that applications for this special COVID RLF would be available on September 1st. He said that these funds are intended for use for COVID-related impact, such as working capital needs or helping to cover equipment or renovation costs.  “We greatly appreciate the support from the EDA and the recognition that our businesses need access to funding opportunities to help them move to economic recovery”, Flint said.

The Springfield Area Revolving Loan Fund (RLF) utilizes funds from the Economic Development Administration. Funding from the RLF is available to applicants in the ten towns in the SRDC service region.