Pittsburgh Area Organizations Receive Economic Development Funds From CARES Act

Coronavirus Cash
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By NewsRadio 1020 KDKA

Pittsburgh area organizations are getting part of $35 million in loan funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

The funds come through the U.S. Department of Commerce’s Economic Development Administration (EDA) through their Revolving Loan Fund program to support small businesses. Senator Bob Casey made the announcement Friday.

“I am pleased that Pennsylvania will receive this $35.5 million investment to help struggling small businesses and entrepreneurs that have been negatively affected by the coronavirus pandemic across Pennsylvania,” said Senator Casey. “I supported EDA funding in the CARES Act and will continue to fight for Pennsylvania’s small businesses, ensuring that minority-owned businesses receive funding and improving oversight so that these grants reach the truly small businesses that need it most.”

The Regional Development Funding Corporation in Pittsburgh will receive $7.6 million in funding.

The Southwestern Pennsylvania Commission will receive $1.1 million.

The Allegheny County Industrial Development Authority will receive $530,000.

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