Notice of Investment Award
Title: COVID-19 Recovery and Resiliency Project
DOC Bureau: Economic Development Administration
Investment No and Type: 05-79-06019 ‒ Economic Adjustment Assistance
Applicant: Lake of the Ozarks Council of Local Governments
Contact Information: Brian Yansen, Executive Director, (573) 346-5692; email@example.com
City/County, State: Camdenton/Camden County, MO
U.S. Congressional District: 4
EDA Investment Amount: $550,000
Total Project Cost: $550,000
Anticipated Impact/Outcome: Capitalizes a revolving loan fund and provides funding for administrative expenses to address the economic development needs of small businesses and entrepreneurs adversely affected by the coronavirus pandemic.
Description: As part of EDA’s CARES Act Recovery Assistance, this investment capitalizes a $500,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Camden, Laclede, Miller, and Morgan Counties in Missouri. This EDA investment also provides $50,000 to defray the cost of administering the RLF. The EDA investment will alleviate sudden and severe economic dislocation caused by the coronavirus (COVID-19) pandemic, provide permanent resources to support economic resiliency, and further the long-term economic adjustment objectives of the region served by this EDA investment.
The CARES Act, signed into law by President Donald J. Trump on March 27, 2020, provides EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to coronavirus.
Should you have any questions, please contact EDA at (202) 482-2900.