Small business relief fund is launched
A new revolving loan fund will help small businesses in the coalfield region cope with the effects of the COVID-19 pandemic.
The Cumberland Plateau Planning District Commission announced Tuesday that it has been awarded a $770,000 grant from the federal Economic Development Administration to provide low-interest and zero-interest small business loans in the counties of Dickenson, Wise, Buchanan, Russell, Tazewell, Lee and Scott along with Norton.
The funds come through the federal CARES Act coronavirus relief legislation.
Cumberland Plateau Executive Director Jim Baldwin noted that the loan fund will allow loans for up to the entire cost of a project. These waivers will last until all funds are loaned out or until June 30, 2022.
More information can be found online at www.cppdc.org under the links for Our Programs, Economic Development, Revolving Loan Fund.
Questions? Contact the commission at 276/889-1778.
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