Portman Applauds $3.75 Million Federal Grant to Help the Appalachian Region Impacted By COVID-19 

WASHINGTON, DC – Today, U.S. Senator Rob Portman (R-OH) applauded the Appalachian Regional Commission (ARC) for awarding a $3.75 million grant for COVID-19 Emergency Response for Small to Medium Enterprises to Appalachian Community Capital (ACC). ACC will use this funding to help the region’s development finance institutions make up for lost revenue as they temporarily defer loan payments. ARC estimates this grant will serve 400 businesses and non-profits, retain 200 jobs, and leverage more than $15 million in private investment. Portman released the following statement: 

“As Southeast Ohio continues to feel the consequences of this unprecedented pandemic, this federal grant will help businesses and nonprofits weather this storm, keep workers on payroll, and save jobs,” said Portman. “I applaud ARC for its work to strengthen economic development efforts in Appalachia and support businesses through this time because of their importance to the region’s economy.”

“Timely access to operating capital is critical for small businesses during this current state of economic crisis,” said ARC Federal Co-Chairman Tim Thomas. “Community development lending entities throughout the Appalachian Region have been working hard to ensure the availability of this capital, and this program will help them to continue to do so.”

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