City Of Longview Offering Forgiveable Loans For Small Businesses
Businesses big and small have been negatively impacted by COVID-19 and while most big businesses are able to withstand this (or get a HUGE hookup from their government "friends"), small businesses don't have the resources to survive but the City Of Longview is offering help.
According to press release from the the City of Longview, the city is encouraging small businesses and non-profit organizations that have been negatively impacted by COVID-19 to apply for a new grant program that will provide zero-interest forgivable loans of up to $30,000.
The City of Longview Community Development division will oversee the distribution of $327,641 through the program officially known as the City of Longview COVID-19 Response and Recovery Stabilization Forgivable Loan Program (RRSFLP). The funds were made available through the CARES Act.
Eligible applicants must demonstrate significant loss of revenue due to the COVID-19 crisis, and priority will be given to the most vulnerable businesses and organizations.
To be eligible, businesses must be located within Longview city limits and have been in business for at least a year as of April 1, 2020. The program defines a small business as having fifty employees or less at the time of loan submission. Applicants must agree to rehire or retain low to moderate jobs. Applicants must provide a job summary and verification. Approved applicants must comply with all federal certifications and contractual agreements.
The application period is open and will remain open until available funds have been disbursed.