As the only federal government agency focused exclusively on economic development, the U.S. Department of Commerce’s Economic Development Administration (EDA) plays a critical role in fostering regional economic development efforts in communities across the nation. Through strategic investments that foster job creation and attract private investment, EDA supports development in economically distressed areas of the United States.
Since its founding on July 30, 1953, the U.S. Small Business Administration has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses. SBA provides assistances primarily through its four programmatic functions: Access to Capital, Entrepreneurial Development, Government Contracting and Advocacy Voice for Small Business.
United States Department of Agriculture (USDA)
Through their Business and Cooperatives Program, rural small businesses are given the financial tools to develop and succeed. USDA helped save or create more than 375,000 rural jobs since 2009 and provided assistance to nearly 75,000 rural businesses and entrepreneurs. Their Rural Energy for America Program has helped generate an estimated 9.8 million megawatt hours of energy.