MARION, Ind. (WOWO): Grant County small businesses impacted by the coronavirus can now apply for small business loans.
Businesses with less than 30 employees are eligible for up to $7500 in funding. The loans come from the Growth Council’s Loan Fund. That money is an extension of the Revolving Loan Fund grant program from the U.S. Department of Agriculture Rural Development Agency.
The loans are to help offset revenue loss, help sponsor sick pay for workers, prevent staff reductions and mitigate challenges due to event cancellations, reduced foot traffic, self-quarantining and work from home policies. Six businesses will be selected to receive funding each round, with applications due on April 3 for the first round and April 17 for the second.
Applicants must provide basic contact information, approval for a credit check, record of all business debt and copies of their 2020 financials.
To apply for a loan or to get more information, click here.