The US Department of Commerce has just announced that their Economic Development Administration is awarding a $550,000 grant in “CARES” Act recovery assistance to the Door County Economic Development Corporation. This will help capitalize and administer a revolving loan fund to help those small businesses and entrepreneurs impacted by the coronavirus pandemic. The DCEDC, a current rotating loan fund grantee, is one of the more than 850 existing fund grant recipients invited to apply for supplemental funding under the “CARES” Act. The “CARES” Act provides $1.5 billion for Economic Development Assistance programs to support communities in trying to prevent, prepare for, and respond to the covid-19 pandemic. Dana Gartzke from the EDA has said, “Small businesses are the lifeblood of our communities, and the EDA es pleased to invest CARES Act funds in the Door County Economic Development Corporation to capitalize and administer a rotating loan fund that will serve coronavirus-impacted businesses in the city of Sturgeon Bay and Door County.”
