EDR and Technical Assistance with EDA Grants
One source for federal assistance for economic development projects continues to be the Economic Development Administration (EDA). Although a small federal agency with a limited budget, EDA can provide the funding for projects that otherwise would not occur. EDA grants can be used for infrastructure projects, technical assistance and planning, and to establish revolving loan funds. Because EDA’s funding for grants is limited, knowing the EDA process and requirements are key to securing an award.
EDR team members have significant experience securing EDA grants and providing technical assistance to grantees.
- EDR team members developed projects and prepared applications that have secured over $25 million in EDA awards.
- EDA team members prepared six approved Administrative Plans for EDA Revolving Loan Fund (RLFs) awardees, and prepared four revisions of Administrative Plans for RLFS.
EDR’s experience with EDA and its award process, rules and regulations, can provide cities and counties a leg up in capturing EDA grants for economic development projects. Having developed and managed four EDA RLFS, EDR can help awardees draft an Administrative Plan that wins EDA approval and is realistic and manageable.
Recently, EDR prepared the Administrative Plan for an RLF administered by a Hawaiian non-profit. By working closely with the grantee and EDA, EDR was able to tailor a plan that met EDA approval and increased the long-term success potential for the RLF.