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.