Southeast Kentucky small business to receive $1.1 million in CARES funding
SOMERSET, Ky. (WYMT) - Southeast Kentucky Economic Development Corporation (SKED) will receive the CARES Act Recovery Assistance grant from the Economic Development Administration (EDA).
The grant will be used to assist support cost through Revolving Loan Funds (RLF) for small businesses affected by the COVID-19 pandemic.
Congressman Harold Rogers praised SKED saying, ” I applaud SKED’s continued work to support our local businesses and retain jobs in our region during this difficult time. Revolving loan funds provide a sensible option for businesses to gain enough capital to take the next steps necessary for success.”
Businesses listed are eligible for aid from SKED: Bell, Breathitt, Clay, Floyd, Harlan, Jackson, Johnson, Knox, Laurel, Lee, Leslie, Letcher, Martin, Magoffin, Morgan, Owsley, Perry, Pike, Pulaski, Whitley and Wolfe.
The EDA was able to use the $1.5 billion they received after President Donald Trump signed the CARES ACT into law. The $1.5 billion is used to help communities in response to COVID-19.
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