Have the Assistance You’ll Need for Your Enterprise
Acknowledging the significant effect associated with COVID-19 pandemic on the neighborhood small company community, the Lancaster City Council has directed the issuance as much as $2,000,000 in loan funds to assist small enterprises in Lancaster through the Stand Strong Business healing Loan Program.
What exactly is it?
Stand Strong offers low and no-interest loans of $5,000 to $20,000 to small enterprises in Lancaster impacted by the COVID-19 pandemic. Funds are meant to 1) help businesses adversely influenced by COVID-19 in keeping viability during and beyond the outbreak, and 2) help those undergoing mandatory closures in recommencing operations following a outbreak’s conclusion.
That is qualified?
To be able to be eligible for the scheduled system, companies must:
- Be separate, locally-owned small enterprises whoever main company procedure is situated inside the Lancaster City limitations
- Are typically in procedure in Lancaster for at the least year at the time of March 17, 2020 (the date the Lancaster City Council ratified the statement of the State of Emergency)
- Have actually yearly revenue that is gross of3.5 million or less
- ESSENTIAL – PLEASE BROWSE BEFORE YOU APPLY: the next businesses aren’t qualified to take part in this program: smoke shops/cigarette stores, hookah lounges, pawn stores, payday loan providers, alcohol shops, adult entertainment enterprises, therapeutic therapeutic massage establishments, gambling establishments, and home-based organizations .
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Exactly what do the funds be properly used for?
Loan funds must certanly be utilized for working money costs such as for example lease, payroll, resources, crucial solutions, and necessary materials to aid with company continuity and data data recovery. Mehr lesen