Eureka to receive $5 million EDA CARES Act Recovery grant allocated by Congress

July 30, 2020

EUREKA, Calif. — Eureka will receive a $5 million Economic Development Administration CARES Act Recovery grant to respond to the coronavirus pandemic.

On July 29, North Coast Rep. Jared Huffman's office announced that the U.S. Department of Commerce’s EDA is awarding over $5.5 million in Recovery Assistance grants allocated by Congress in the CARES Act to capitalize and administer Revolving Loan Funds that will provide critical gap financing to small businesses and entrepreneurs adversely affected by the coronavirus pandemic throughout California’s second congressional district.

“Families and small businesses have been struggling to get by as they wait for the Trump administration to distribute critical funds that Congress laid out in the CARES Act earlier this spring,” Huffman said. “It is good to see this money finally get out the door and into the hands of my constituents in need. The Redwood Region Economic Development Commission and the Economic and Development and Financing Corporation are two of a number of community partners who stepped up big time to help local businesses and residents challenged by the COVID-19 pandemic. This investment by the federal government supports their excellent ongoing work. More funds are needed, and I will continue to work on getting additional relief to families, state and local governments, and small businesses across Northern California.”

Officials said the EDA investments announced Wednesday for California’s second congressional district are:

  • Redwood Region Economic Development Commission, Eureka, California, will receive a $5 million EDA CARES Act Recovery Assistance grant to respond to the coronavirus pandemic by capitalizing and administering an RLF that will provide loans to coronavirus-impacted businesses in Humboldt County.
  • Economic and Development and Financing Corporation, Ukiah, California, will receive a $550,000 EDA CARES Act Recovery Assistance grant to offer small business loans to coronavirus-impacted businesses by capitalizing and administering an RLF to serve businesses in Mendocino and Lake counties.

“This CARES Act funding will be critical to support our existing and new customers. We will be working with our community partners to develop loan products that will help local businesses and non-profits meet the challenges of this pandemic and thrive in the future,” Redwood Region Economic Development Commission Executive Director, Gregg Foster said.

“I want to thank Congressman Huffman for his support of the CARES Act. This and other investments in our community will help sustain our economy and allow RREDC to increase its support of local businesses throughout Humboldt County,” RREDC Chair and member of the Blue Lake Council, Summer Daugherty said.


By:  Lisa Lebrenjak
Source: KRCR