Local businesses can now apply for the city’s Emergency Loan Program. Here’s how.
- Sara Vanden Berge
- May 11, 2020
- 1 min read
By SARA VANDEN BERGE
The Stephenville Economic Development Authority and the city of Stephenville have opened the application process for local businesses to apply for the COVID-19 Emergency Loan Program.
The program is aimed at providing assistance to businesses suffering from financial impacts related to the pandemic.
The Stephenville City Council approved the $60,000 loan grant program that will give local businesses a loan for up to $2,500 that will be paid back to the city with a low-interest rate.
The grant is aimed at helping businesses like hair and nail salons that were forced to temporarily close.
Applications can be found online at www.stephenvilleeda.com.
Here are the specifics:
• Only one application per business address will be considered and, if approved, will be eligible for emergency aid up to $2,500.
• The application period will remain open through July 30 or until funding has been exhausted or until it is determined that the program goals have been satisfied.
Small businesses often face financial challenges, and emergency loan programs provide essential support during tough times. Access to funding can help businesses cover operational costs, invest in growth, and navigate economic uncertainty. With digital platforms, the loan application process is becoming more streamlined and accessible. If you're interested in financial technology solutions to simplify funding processes, this site offers development services that enhance digital finance platforms and automate lending systems. The connection between financial assistance and technology-driven development is empowering businesses to thrive in any economic climate.
It's great to see that local businesses can now apply for the city's emergency loan program! This initiative will provide much-needed support to help them recover and thrive. If you're looking for financing options, check out the credit acceptance phone number for assistance. They offer flexible solutions that can help businesses get back on their feet. Let's hope many take advantage of this opportunity!