U.S. Senator Kelly Loeffler (R-Ga.) today announced that Georgia is receiving $11.8 million in recovery assistance grants to capitalize and administer revolving loan funds for small businesses as part of the Coronavirus Aid, Recovery and Economic Stability (CARES) Act. 

The Coastal Area District Development Authority in Brunswick, Georgia, will receive an $11 million Economic Development Administration (EDA) grant to administer revolving loan funds to coronavirus-impacted businesses in Bryan, Bulloch, Camden, Chatham, Effingham, Glynn, Liberty, Long and McIntosh counties. Atlanta will receive an $836,000 Economic Development Administration (EDA) grant to direct revolving loan funds to coronavirus-impacted businesses in the city. 

“Small businesses are the backbone of our economy and local communities,” said Senator Kelly Loeffler. “They have been hit particularly hard by the coronavirus. These grants, provided by the CARES Act, will help small businesses along the Georgia coast and in Atlanta keep their doors open and keep employees on the payroll. Along with President Trump and Commerce Secretary Ross, I am committed to helping small businesses survive these challenging times to reignite the power of our strong economy.” 

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

The CARES Act, supported by Loeffler, provided EDA with $1.5 billion for economic development assistance programs to help communities respond to the pandemic.