A non-profit group focused on helping the region’s economy has nearly doubled the amount of money it has to help local businesses hard hit by the coronavirus crisis.
The Economic Development Collaborative has received nearly $2.5 million in new federal funding for a Ventura County business loan fund.
It brings the total in the EDC Revolving Loan Fund to $5 million.
Businesses in the county can apply to receive low interest loans from $10,000 to $250,000. The EDC is getting the funding from the federal CARES Act, which is focused on coronavirus relief efforts.
