The City’s small-business loan program will provide zero-interest loans of up to $15,000 to eligible small businesses of 25 or fewer full-time employees; these funds may help businesses cover day-to-day operating expenses, lease or mortgage payments, materials, supplies and services. Loan payments will be deferred until May 1, 2021.
The $600,000 in loan funding will come from the City’s Measure V funds, a half-cent sales tax that pays for key City services such as public safety, street maintenance and repair, and economic development. Businesses can apply for these small business loans starting tomorrow, Friday, April 24.
For the SBS Loan Program full guidelines and information, please go here.
Here’s the press release on the new loan program.