April 1 - 6, 2022

EDA announced one investment from April 1-6, 2022, for $400,000, which is matched by $100,000 in local investment that will help create 38 jobs, save 76 jobs, and leverage $6,000,000 in private investment, as outlined below:

• $400,000 in one American Rescue Plan Economic Adjustment Assistance project, matched by $100,000 in local investment, as follows:
  • $400,000, matched by $100,000 in local investment, to the Upper Minnesota Valley Regional Development Commission, Appleton/Swift County, Minnesota, to support the capitalization of a $500,000 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: Big Stone, Swift, Lac qui Parle, Chippewa, and Yellow Medicine counties in Minnesota. Once implemented, the RLF will provide access to capital to help small businesses and entrepreneurs recover from the coronavirus pandemic, which will promote job creation and retention, attract private investment, and bolster economic resiliency throughout the region. The grantee estimates that this project will help create 38 jobs, save 76 jobs, and leverage $6,000,000 in private investment.