1、CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i COVID-19: EDA Revolving Loan Funds for Businesses June 9, 2020 Economic development revolving loan funds (RLFs) use funding from federal grants and other sources to make loans to local businesses and in limited circumstanc
2、es to communities for infrastructure and development projects. The Economic Adjustment Assistance (EAA) programadministered by the Department of Commerce, Economic Development Administration (EDA)is a source of RLF funding. The Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136
3、) provided $1.5 billion in supplemental funding for the EAA program, which can be used for RLF grants, among other activities. RLFs can make loans to targeted types of businesses or areas, such as economically-distressed communities; specific industries, like healthcare or manufacturing; underserved
4、 markets; Opportunity Zones; or areas impacted by natural disasters. This Insight describes EDAs RLF program, how it could potentially be used to address COVID-19 pandemic-related business credit needs, and the temporary RLF program changes made in response to “urgent circumstances.” An Overview of
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