8 damaged MS firms awarded funds

AMORY, Miss. - Jaco Machine (Jaco) had only been in operation in Amory just over a year when an EF3 tornado tore through their business in March. 

Jaco was one of eight businesses awarded a $20,000 Small Business Recovery Grant from the Federal Home Loan Bank of Dallas through FHLB Dallas member, Renaissance Community Loan Fund (RCLF). 

The funds were presented Aug. 28 during a ceremony at Jaco’s location that was attended by area public officials and business leaders. 

“Without the grant, we would really be struggling,” Jaco's Jody Powell said. “We were relieved when we learned about the funding. It was a tremendous help.” 

Jaco, which provides fabrication services to the aerospace industry, suffered widespread damage when the tornado and was shut down for weeks but is now up and operating. 

Some other businesses that were hit, and awarded funding, have still not reopened after more five months. 

“RCLF worked closely with Monroe Chamber of Commerce staff to identify qualifying businesses within the damaged area and to provide assistance in preparing and submitting the grant applications,” said John-Michael Marlin, director of lending at RCLF. 

The disaster relief funds from FHLB Dallas "played a critical role" in aiding communities move toward recovery, but due to the extensive damage, "it’s a process that takes time. These businesses want to get back to work, and we’re here to help.” (Business Wire 08/28/23) Renaissance Community Loan Fund and FHLB Dallas Grant $160K to Eight Mississippi Businesses That Suffered Tornado Damage | Business Wire 

The other seven businesses were not specifically identified in the Renaissance media release.