The City Council voted recently to approve allowing current Lifeline Business Loan recipients to delay the repayment of their loans for an initial six-month period, up to one year.
Borrowers can contact Assistant to the City Manager Dominique Albrecht at firstname.lastname@example.org to request forbearance.
Through the Lifeline Business Loan Program, the City issued $1.7 million in loan funds to 94 businesses impacted by the coronavirus pandemic. The Business Lifeline Loan program closed on July 21. The Council approved loans of up to $20,000 for local businesses who have been forced to close or vastly reduce their operations due to the ongoing pandemic.