Portman Applauds U.S. Department of Commerce $1 Million Investment of CARES Act Funding to Help Small Businesses in Ohio Impacted by COVID-19

CINCINNATI, OH – Today, U.S. Senator Rob Portman (R-OH) applauded U.S. Secretary of Commerce Wilbur Ross’s announcement that the Department’s Economic Development Administration (EDA) is awarding a $1 million CARES Act Recovery Assistance grant to the Barberton Community Development Corporation, Barberton, Ohio, to capitalize and administer a Revolving Loan Fund (RLF) that will provide critical gap financing to small businesses and entrepreneurs adversely affected by the ongoing COVID-19 pandemic in Ohio.      

This grant comes from funds accessible thanks to the bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act, which Portman supported and was signed into law by President Trump. 

“This $1 million in CARES grant funding announced by Secretary Ross is terrific news for Ohio,” said Senator Portman. “These funds will help small businesses in Barberton that have been adversely affected by the coronavirus pandemic. I’m pleased to see this grant funding will protect small businesses and help bolster the economy in the area. I was proud to support the passage of the CARES Act and will continue to work with my colleagues to ensure Ohioans have the resources they need during these uncertain times.” 

“President Trump is working diligently every day to support our nation’s economy following the impacts of COVID-19 through the CARES Act,” said Secretary of Commerce Wilbur Ross. “This investment will provide small businesses in Ohio with the necessary capital to rebound from the coronavirus pandemic and, in turn, create a stronger and more resilient regional economy for the future.” 

“This investment comes at a crucial time to help Ohio’s and our nation’s economy come roaring back and provide hard-working Americans with new opportunities,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development. “Small businesses are the lifeblood of our communities, and EDA is pleased to invest these CARES Act funds in the Barberton Community Development Corporation to capitalize and administer an RLF that will provide loans to coronavirus-impacted businesses in Barberton.” 

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