Economic Development Administration (EDA)
As the only federal government agency focused exclusively on economic development, the U.S. Department of Commerce’s Economic Development Administration (EDA) plays a critical role in fostering regional economic development efforts in communities across the nation. Through strategic investments that foster job creation and attract private investment, EDA supports development in economically distressed areas of the United States.
While EDA does offer some programs specifically designed for small businesses, those programs are usually provided via 3rd party intermediaries, and not through EDA directly.
Assists state and local interests in designing and implementing strategies to adjust or bring about change to an economy. The program focuses on areas that have experienced or are under threat of serious structural damage to the underlying economic base. Under Economic Adjustment, EDA administers its Revolving Loan Fund (RLF) Program, which supplies small businesses and entrepreneurs with the gap financing needed to start or expand their business.
Revolving Loan Fund Program (RLF)
The purpose of the Revolving Loan Fund Program (RLF) is to finance business startups and expansions and community development projects in rural areas. The primary purpose is to create and maintain employment and to improve the economic climate in rural communities. The maximum RLF loan is generally $200,000, but program (loan) guidelines may differ depending upon your service region. The program is only accessible via intermediaries
Trade Adjustment Assistance for Firms
A national network of 11 Trade Adjustment Assistance Centers to help strengthen the competitiveness of American companies that have lost domestic sales and employment because of increased imports of similar goods and services.