YANKTON, S.D. (WNAX) – The Areawide Business Council based in Yankton has received a $4 million grant from the federal Economic Development Agency to provide coronavirus related loans in a thirteen county area.

Administrator Lori Cowman with Planning District Three says the loans can be used for all types of business activity.

Cowman says almost any type of business is eligible.

Cowman says a lot of the money has already gone out.

Cowman says the funds are set up as a revolving fund so as they are paid back, loans would be available to other businesses.