Wayne County, IN – Wayne County COVID-19 small business loan program
Agency / Department: Wayne County, IN
Resource: Wayne County COVID-19 small business loan program
Details: “Businesses will be able to request up to $25,000 in the form of a zero-interest loan. The money can be used to pay for rent, mortgage, utilities, supplies, equipment, insurance, inventory, labor costs and other operating expenses. There will be no loan origination fees, and payments will be deferred for six months. Businesses then would have up to 54 months to repay the amount borrowed. Monthly payments that are 30 days past due will incur a late fee of 5% of the outstanding amount.
To be eligible for the program, businesses must be for‚Äêprofit, have owners who live in Wayne County, be physically located in the county, be subject to county taxes, be current on all property and payroll taxes, have no more than 50 employees as of March 1, 2020, and meet U.S. Small Business Administration eligibility criteria.”