Centroplex News

Revolving Loan Funds will be receiving $18.6 million in CARES Act Recovery Assistance grants, with the CEN-TEX Certified Development Corporation in Austin and the Northeast Texas Economic Development District in Texarkana both receiving $550,000.

“President (Donald) Trump is working diligently every day to support our nation’s economy following the impacts of COVID-19 through the CARES Act,” U.S. Secretary of Commerce Wilbur Ross said. “These investments will provide small businesses across Texas with the necessary capital to rebound from the coronavirus pandemic and, in turn, create a stronger and more resilient state economy for the future.”

EDA Chief of Staff Dana Garrzke said the investments come at a “crucial time” to help Texas businesses recover.

“Small businesses are the lifeblood of our communities, and EDA is pleased to invest these CARES Act funds so that Texas businesses have access to capital to respond to and recover from the coronavirus pandemic,” she said.

Both the CEN-TEX Certified Development Corporation and the Northeast Texas Economic Development District are receiving the funds to help capitalize and administer revolving loan funds.

The CEN-TEX Certified Development Corp. is receiving the funds to help capitalize and administer revolving loan funds. The funds will help small businesses that have been impacted by the COVID-19 pandemic to recover in Lee, Caldwell, Wharton, Burleson, Colorado, Gonzales, Rayette, Lavaca, Waller, Matagorda and Lampasas counties. 

The Northeast Texas Economic Development District funds will help businesses in Upshur, Titus, Bell, Bosque, Somervell, Red River, Bowie, Camp, Panola, Navarro, Cass, Coryell, Morris, Milam, Delta, Eastland, McLennan, Marion, Erath, Falls, Limestone, Lamar, Franklin, Freestone, Johnson, Hopkins, Gregg, Harrison and Hill counties. 

“Small businesses in Texas have borne the brunt of the pandemic’s devastating impact,” Sen. John Cornyn said in the press release. “I applaud this announcement and will continue to do everything I can to make sure Texas small businesses have what they need to survive this crisis.”