On June 15, the Yukia Economic Development and Finance Corporation received $ 1.3 million in Covid assistance funds from the US Treasury Department as part of the Community Development Financial Institutions Rapid Response Program. (CDFI RRP)
The awards were announced by Vice President Kamala Harris at the White House along with Treasury Secretary Janet L. Yellen. There are 68 grant recipients in California. EDFC is one of 41 Community Development Financial Institutions (CDFI) to receive funding.
“These funds provide the necessary capital for CDFIs to respond to the economic challenges posed by the COVID-19 pandemic, especially in underserved communities,” said Robert Gernert, EDFC’s credit manager.
Overall, the U.S. Treasury Department has allocated $ 95.11 million in COVID-19 assistance to Community Development Financial Institutions (CDFIs) in California.
EDFC lends funds to qualified small businesses. To apply, visit edfc.org/loan-programs.
EDFC’s mission is to “connect money and ideas with entrepreneurs to create sustainable prosperity in Mendocino, Lake and Sonoma counties.”
For more information visit edfc.org/loan-programs or call 707-234-5705 for more information.