Central Texas News

Revolving Loan Funds will be receiving $18.6 million in CARES Act Recovery Assistance grants, with the CEN-TEX Certified Development Corp. in Austin receiving $550,000.

The CEN-TEX Certified Development Corp. is receiving the funds to help capitalize and administer revolving loan funds. The funds will help small businesses that have been impacted by the COVID-19 pandemic to recover in Lee, Caldwell, Wharton, Burleson, Colorado, Gonzales, Rayette, Lavaca, Waller, Matagorda and Lampasas counties. 

“President (Donald) Trump is working diligently every day to support our nation’s economy following the impacts of COVID-19 through the CARES Act,” U.S. Secretary of Commerce Wilbur Ross said. “These investments will provide small businesses across Texas with the necessary capital to rebound from the coronavirus pandemic and, in turn, create a stronger and more resilient state economy for the future.”

EDA Chief of Staff Dana Garrzke said the investments come at a “crucial time” to help Texas businesses recover.

“Small businesses are the lifeblood of our communities, and EDA is pleased to invest these CARES Act funds so that Texas businesses have access to capital to respond to and recover from the coronavirus pandemic,” she said.

CARES Act funding ranging from approximately $550,000 on up to $4.3 million will be provided to a dozen economic development organizations.

“Small businesses in Texas have borne the brunt of the pandemic’s devastating impact,” Sen. John Cornyn said in the press release. “I applaud this announcement and will continue to do everything I can to make sure Texas small businesses have what they need to survive this crisis.”