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Lemon Grove invests $20,000 in East County small-business revolving loan fund
Summary
Mayor Raquel Vasquez said Lemon Grove invested $20,000 in a small-business revolving loan program coordinated with East County economic-development partners to support local businesses and job creation.
Mayor Raquel Vasquez highlighted a new small-business support initiative in partnership with East County economic-development organizations and said the city invested $20,000 in a revolving loan fund.
"By participating with the East County economic development council and investing $20,000 in a small business revolving loan program, we are showing our commitment to building a stronger business community," Vasquez said.
The mayor framed the loan as part of a broader strategy to help small, local businesses grow, create jobs and strengthen the local economy. She did not provide application details, interest rates or the number of loans expected to be originated from the initial investment during the address.
Next steps: city staff and East County partners will administer the program; the mayor invited continued collaboration with local businesses.
