The Central Arkansas Planning and Development District (CAPDD) can provide urgent, low-cost financing of up to $100,000 if your small business has been affected by the pandemic. The organization wants to make sure communities are aware of the CARES Act Revolving Loan Fund (RLF) and the services they have available to help businesses use this tool. Currently, there is approximately $810,000 available to lend.
According to CAPDD’s communication with our local Chambers of Commerce, they are switching from having applicants complete the hard-copy application on the front end, to pushing that step a little further down the line. To make it easier for businesses to apply they’ve recently set up a “Self-Check Form” on their website, where businesses can complete the CARES RLF form and then CAPDD will then contact them to assist in completing the application.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act Revolving Loan Fund is a new economic recovery loan program, created by the Economic Development Administration under the U.S. Department of Commerce, designed to alleviate sudden and severe economic dislocation caused by the coronavirus (COVID-19) pandemic. It will provide permanent resources to support economic resiliency and further the long-term economic adjustment objectives of the Central Arkansas Planning and Development District Region.
To find out if you are eligible for COVID-19 revolving loan funds, contact our agency today or feel free to utilize our eligibility self-check form. The form and specifics on the terms and conditions of the CARES RLF can be accessed at this link: https://www.capdd.org/cares-