Small Business Resiliency Program
Summary
The EDA-backed small business relief fund drew 26 applications. Businesses that passed pre-screening are now meeting with partner Next Stage to document losses before funds go out the door.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Last discussed Aug 17, 2026.
Impact analysis
About $65,000 actually spent, less than the $150,000 the EDA budgeted, so reserves will end the year a bit higher than expected.
Local Richfield businesses that suffered losses and qualify for relief funding.
Business owners unable to document losses may be unable to obtain funding.
Mentions & discussions (3)
Economic Development Authority - Aug 17, 2026
The emergency forgivable-loan program launched after Operation Metro Surge is nearly complete: 10 businesses shared about $65,000, with roughly 75 jobs preserved and 28,000 square feet of commercial space stabilized. Nine of ten loans are already forgiven.
Economic Development Authority - May 18, 2026
The EDA-backed small business relief fund drew 26 applications. Businesses that passed pre-screening are now meeting with partner Next Stage to document losses before funds go out the door.
Economic Development Authority - Mar 16, 2026
Federal immigration enforcement actions (Operation Metro Surge) have hit Richfield's small businesses hard — lost workers, fewer customers, revenue losses. The EDA put $150,000 into forgivable loans of up to $10,000, roughly two months of rent, and can add more money later if demand is high.
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