COVID-19 Relief: EDA CARES ACT Recovery Assistance Loan Program

CARES ACT Recovery Assistance Loan Fund

INTRODUCTION
On July 23, 2020, Coastal Area District Development Authority, Inc. (CADDA) was awarded $10 million from the Economic Development Administration to launch a CARES ACT Recovery Assistance Loan Fund to assist businesses impacted by the COVID-19 pandemic. The EDA CARES ACT Revolving Loan Fund provides economic assistance to businesses within a nine-county region of Coastal Georgia including Bryan, Bulloch, Camden, Chatham, Effingham, Glynn, Liberty, Long, and McIntosh.

PURPOSE
The loan proceeds are for recovery assistance to those businesses that demonstrate a creditworthy track record prior to the COVID-19 pandemic that now struggles to meet monthly operating needs. The primary focus of the program is working capital for existing businesses affected by the COVID-19 pandemic; however, loan proceeds may also be used for fixed asset financing and limited debt consolidation. Due to expected demand, applications may be accepted for a limited time.

 

Download Guide to EDA CADDA COVID-19 Loans for Small Business

 

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October 2021

SBA 504
Loan Rates

25 Year - 2.912 %
20 Year - 2.765%
10 Year - 2.372%

Which Loan is Right for Me?

Whether you’re searching for a $10,000 equipment loan or want financing for a $2 million building purchase, there is a good chance we have the right loan product for you. 

Need More Info? Contact Us.

CADDA has a reputation for providing the best service of any CDC in the Coastal Area. We’re committed to constant improvement.  We look forward to hearing from you.

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CADDA is an Equal Opportunity Lender. © Coastal Area District Development Authority. All rights reserved.
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