Economic Development Administration Awards Region 9 with Two Grants Totaling $743K

For Immediate Release:

Contact Person: Laura Lewis Marchino 970-247-9621

Durango CO - The Region 9 Economic Development District of Southwest Colorado (Region 9) announced that it will receive $743,000 through two awards from the U.S. Department of Commerce’s Economic Development Administration (EDA). The Rise and Recover Together COVID recovery funds will support the recovery efforts in the five-county area (Archuleta, Dolores, La Plata, Montezuma and San Juan as well as the Southern Ute and Ute Mountain Indian Reservations). 

Loan funding of $440,000 will help support qualifying businesses’ ability to reopen and recover. This COVID-EDA-RLF will supplement traditional funding sources by providing gap financing, but also work to diversify and strengthen each community’s unique economies. The hope is that post-COVID businesses will be able to expand and create jobs long-term.

“EDA-RLF funding will grow our available capital to lend which will enable us to better serve local businesses and to help them get through the COVID crisis,” said Jenny Stollar, Business Loan Officer with Region 9. 

Additionally, Region 9 was awarded $303,000 to assist communities impacted by the COVID crisis through the Rise and Recover Together initiative. This program will support recovery efforts in the five-county area by providing a Recovery Coordinator in Archuleta County, support for the SWCODA website and other services to respond to recovery efforts over the next two years.

“These funds will provide part of the foundation so that community spirit, community voices and community talent can begin to build their futures, beyond COVID.” said Heather Otter, Economic Development Project Manager.

For more information, please contact Region 9 at 970-247-9621 or at www.scan.org.