Butterfield Announces $671,000 COVID-19 Recovery Assistance Grant Funding Through CARES Act
WASHINGTON, DC – Today, Congressman G. K. Butterfield (NC-01) announced the awarding of $671,000 in funding from the Economic Development Administration (EDA) to the Mid-East Commission. These funds were made available by the CARES Act and will be used to provide loans to small businesses and entrepreneurs negatively affected by the coronavirus pandemic. These loans will be available to borrowers in Beaufort, Bertie, Hertford, Martin, and Pitt Counties.
“Many eastern North Carolinians are facing dire economic consequences as a result of this pandemic and are in need of assistance and support. I am glad to see that through the passage of the CARES Act, this EDA funding will go directly to Mid-East Commission for loan making to help small businesses in eastern North Carolina economies in North Carolina get through the difficult economic times caused by the pandemic so they can thrive in the very near future.”
The CARES Act, which passed the U.S. House of Representatives on March 26, 2020 and was signed into law on March 27, 2020, provides EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare for, and respond to coronavirus.