Helping businesses navigate new and fast-changing resources and ensuring that federal, local and private funds reached our local community has been the EDC’s priority throughout the pandemic.
In recognition of the extraordinary impact to small businesses and their need for capital, CIT Bank has awarded the EDC with a $50,000 grant.
This CIT Bank grant supports additional and existing capacity of the EDC Loan program. Through robust loan tracking software and additional loan loss reserves, this grant will help provide 40 grants and loans to small businesses in underserved markets.