Seven Tennessee development districts receive $13.6 million in CARES Act funding

The U.S. Economic Development Administration (EDA) announced late last week that it was awarding another $13.6 million in CARES Act Recovery Assistance grants to recipients in Tennessee.

These grants are intended to capitalize and administer Revolving Loan Funds to provide critical gap financing to small businesses and entrepreneurs that have been adversely affected by the coronavirus pandemic across the state.

Recipients of the latest EDA funding and their amounts, in descending order, are:

  • Upper Cumberland Development District in Cookeville – $5.6 million;
  • Greater Nashville Regional Council – $2.7 million;
  • South Central Tennessee Development District in Mount Pleasant – $1.7 million;
  • Southeast Tennessee Development District in Chattanooga – $1.2 million;
  • First Tennessee Development District in Johnson City – $1.1 million;
  • East Tennessee Development District in Alcoa – $814,000; and
  • Southwest Tennessee Development District in Jackson – $550,000.

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