$10.3 million federal grant to help small business owners in W.Va.
CHARLESTON, W.Va. (WSAZ) – A $10.3 million federal grant has been awarded to the West Virginia Economic Development Authority to help small business owners recover during the pandemic.
The U.S. Department of Commerce made the announcement Friday about the CARES Act Recovery Assistance grant to the West Virginia Economic Development Authority.
“This investment will provide small businesses in West Virginia with the necessary capital to rebound from the coronavirus pandemic and, in turn, create a stronger and resilient regional economy for the future,” said U.S. Secretary of Commerce Wilbur Ross.
Businesses have already begun applying for the funding, which will be dispersed as part of a revolving loan program.
West Virginia Gov. Jim Justice expressed his gratitude about the funding, saying “This nation has taken a cannonball right to the stomach with this pandemic.”
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