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Township submits business damage reports to county; may qualify businesses for SBA low-interest loans
Summary
Township staff collected 25 business damage forms and submitted them to the county to pursue an SBA low-interest loan program; businesses with uninsured losses over $40,000 are those that may qualify.
During the public-comment portion of the July 30 meeting, the chair reported that township staff collected business damage forms to support a potential Small Business Administration (SBA) low-interest loan program after recent storm and power-surge damage. The chair said businesses with uninsured losses over $40,000 qualify and staff submitted a package to the county after collecting 25 responses, exceeding the five-response threshold the township needed.
Township staff and the economic-development manager plan to work with the SBA at the community and cultural center to help businesses apply if the county and SBA determine the township meets program requirements. The chair credited EMC Rachel Heller and James Breville for collecting the damage reports.
