Good for business, good for the community

Plan to establish a small business loan program a positive step

The Webster City City Council approved a small business loan program Monday night in response to the Covid-19 crisis. The council set aside $250,000 for the loans, to be issued in increments of $2500 and $5000. Businesses with gross annual revenues of less than $500,000 with 20 employees or less and who have been closed as part of state mandates will be eligible. Funds can be used for the following purposes:

– Rent or mortgage payments

– Payroll

– Utilities

– Other expenses associated with keeping the business viable

Loan repayment will be deferred for 1 year, but loans can be forgiven, provided businesses stay open and remain current on utility bills and compliant with all city ordinances.

Applications are available at the city website and can be submitted electronically or printed and delivered to the City Clerk Utility drop box. Deadline for application is April 30th. A task force has been set up to select the recipients.

This is just one example of how we are coming together as a community to meet the challenge of keeping everyone safe while sustaining our local economy.

In the meantime, please continue to support local businesses that have had to shut down or limit operations. Purcahse a gift card to use later. Order a meal, call and order what you need and pick it up or have it delivered if available.

Everyone has had to make adjustments due to the Covid-19 situation. How we act and prepare now will have enormous impacts on how we live once it’s safe to return to our normal activities. Now is not the time for short term thinking based on frustration. Instead it’s time for long term thinking based on hope.


Today's breaking news and more in your inbox

I'm interested in (please check all that apply)
Are you a paying subscriber to the newspaper? *

Starting at $3.46/week.

Subscribe Today