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Decatur City Commission – Loan Program for Businesses affected by COVID-19

Agency / Department: Decatur City Commission

Resource: Loan Program for Businesses affected by COVID-19

Details: The Decatur City Commission approved a framework for a loan program to help businesses affected by the COVID-19 pandemic. While many of the details need to be worked out, the general idea is the city would create a $500,000 business loan fund. Businesses could receive up to $25,000, with the average loan in the $10,000 to $15,000 range. The loans would have a low interest or be interest-free. The payback period would be 36 to 60 months. The loans would be limited to businesses with 25 or fewer full-time employees.

Link: https://decaturish.com/2020/04/decatur-city-commission-moves-forward-with-loan-program-for-businesses-affected-by-covid-19/

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