Small business and microenterprise recovery loan program
EL CENTRO, Calif. (KYMA, KECY)-Has the lockdown impacted your business due to COVID-19? The City of El Centro has a loan program to help local businesses cope with the difficulties caused by the pandemic.
The City of El Centro says the Microenterprise Loan Program is funded by the Community Development Block Grant Program.
The City of El Centro says businesses can loan up to $10,000 to 20 micro-businesses in the City of El Centro.
The guidelines are the following:
- Business must be located within the city limits of El Centro and have a valid business license
- Must employ five or less full-time (or full-time equivalent) employees
- The business and/or business owner cannot have received CARES Act funding from another source
- Must have proof of economic hardship caused by COVID-19
- The business owner must be low/moderate income qualified based on the 2020 HUD Income Limits
For further information or questions regarding the Microenterprise Loan Program, contact the city’s Economic Development Division at (760) 337-4543 or e-mail MicroLoanProgram@cityofelcentro.org.
