COVID Financial Update
I’m reaching out to let you know some exciting news. Just last week the CAPDD Board of Directors put the final stamp of approval on the CARES Act Revolving Loan Fund (RLF). Recently, CAPDD was awarded roughly $1 million in grant money from the U.S Economic Development Administration providing $910,000 available for small businesses operating within CAPDD’s Six County district.
This loan program is only available for "PROFITABLE" businesses (who have been in business for at least two years); but, which are currently struggling due to the economic impact of COVID-19. The loan is designed to help these businesses remain financially viable, expand operations, retain and expand employment. Applicants will be required to submit a hard-copy application to CAPDD no later than 4:30pm on the first Tuesday of each month for consideration at the next scheduled CAPDD Board of Directors meeting.
The RLF loan application and website can be viewed here: https://www.capdd.org/covid19
In addition to the new RLF opportunity, CAPDD also launched a new webpage that includes resources for local government and local businesses.
Please help us by sharing info on the new webpage and RLF program with your community residents!
One last thing. Applicants MUST submit the hard-copy application in person to CAPDD.