Downtown Business Continuity Forgivable Loan
The Downtown Business Continuity – Forgivable Loan Program (Program) was designed to assist eligible businesses in serious jeopardy of permanent closure due solely to the recent COVID-19 pandemic and associated economic impacts.
The Program provided direct financial assistance to existing, locally-owned, eligible businesses, with a preference for ground-floor businesses operating continuously within the Central Business Improvement District (CBID map). See application for full details and requirements. Forgivable loan amounts up to $20,000.
Loan funding is currently depleted.
- 46 Forgivable Loans approved – $260,000 total
- 87% for businesses in Downtown core and South Main
- 63% of businesses awarded loans were WMBE businesses
- 70% of businesses were Food & Beverage category