A $262,500 Loan For Small Business Program

The Common Council, at a special on Monday night, voted unanimously to provide $262,500 in loans to support small businesses. The loans will be up to $10,000, and go to businesses of 20 employees or fewer that operate or are based in the City.The loans will be for 1 year at 3.5% interest, with payments not starting until January, 2021.The funds can be used for COVID related expenses, payroll, inventory, employee training, “Re-Start” expenses, utilities, working capital. All expenses must be approved by City staff.

Here Is The Online Video Of The Special Meeting Meeting:

Here Is The Online Video Of The Budget Workshop Meeting:

Article Posted From The Middletown Eye

All Common Council Meetings Are Available On: The City Of Middletown.s Facebook Page