Funds will support small businesses in Georgia and across the Southeast
Washington, D.C. — Today, U.S. Senators Jon Ossoff and Rev. Raphael Warnock and U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $2.25 million CARES Act Recovery Assistance grant to Operation Hope, Inc. in Atlanta to support small businesses. This EDA grant will be matched with $567,918 in local investment.
The project was made possible by the regional planning efforts led by the Atlanta Regional Commission, which EDA funds to help bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment, and create jobs.
“Small businesses across our state have been hit hard by this pandemic through no fault of their own,” Senator Ossoff said. “Without adequate access to relief, many have had to close their doors and lay off workers. I’m thrilled to be working with the Biden Administration to get relief to the businesses who need it most.”
“This significant grant is a lifeline for small, minority and women-owned businesses in Georgia, providing critical support and assistance that will help them weather and thrive beyond the economic devastation of this once-in-a-century pandemic,” Senator Reverend Warnock said. “I’ll keep working with the Biden-Harris Administration to strengthen these and other federal investments that will keep our small businesses and economy strong.”
Founded in 1992, Operation Hope is a nonprofit for-purpose organization working to disrupt poverty and empower inclusion for low and moderate-income youth and adults. They serve adults, youth, disaster survivors, and employees with financial dignity programming and coaching to equip them with the financial knowledge and tools to create a secure future.
“President Biden is working tirelessly every day to deliver bold action and immediate relief for American families as the country grapples with converging crises, including the coronavirus pandemic,” said Secretary of Commerce Gina Raimondo. “This EDA investment in Operation Hope will provide technical assistance and guidance to small, minority- and women-owned businesses across the southeast to help them remain viable and resilient in the face of the pandemic.”
“The Economic Development Administration plays an important role in supporting community-led economic development strategies designed to boost coronavirus recovery and response efforts,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “This EDA investment will allow Operation Hope to build capacity to coordinate outreach activities, build training programs, and recruit community partners to better assist small business owners and entrepreneurs as they adjust to the effects of the pandemic.”
This project is funded under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136), which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for, and respond to coronavirus. EDA CARES Act Recovery Assistance, which is being administered under the authority of the bureau’s flexible Economic Adjustment Assistance (EAA) program, provides a wide-range of financial assistance to eligible communities and regions as they respond to and recover from the impacts of the coronavirus pandemic.
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