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Committee files ordinances to enable $20 million emergency loan program for small businesses
Summary
The Budget & Finance Committee filed two ordinances enabling a $20 million short-term emergency loan program and appropriating $20 million in loan proceeds plus $600,000 from the general reserve to administer loans; the filing followed Supervisor statements about OEWD programs and an absence of public comment.
The Budget and Finance Committee on April 8 filed two ordinances to support a short‑term emergency loan program for San Francisco small businesses hurt by the COVID‑19 economic downturn.
The clerk read two files: an ordinance authorizing the Treasurer to secure a short‑term line of credit not to exceed $20,000,000 to provide unsecured emergency loans to small businesses with a physical location in San Francisco that cannot meet rent, mortgage or other fixed operating costs due…
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