Businesses can apply for DeKalb County small business loan program starting Aug. 27DeKalb County CEO Michael Thurmond. Photo by Dean Hesse.
Decatur, GA — This week, businesses can apply for small business loans being offered by DeKalb County to help companies affected by the COVID-19 pandemic.
The DeKalb County Commission approved the DeKalb Better Business Loan Program on Aug. 11.
“The program will be funded using $15 million from the county’s allotment of federal Coronavirus Aid, Relief and Economic Security (CARES) Act funding,” a press release from the county says. “The loan program was developed by DeKalb County CEO Michael Thurmond’s administration, in cooperation with the Small Business Subcommittee of the DeKalb COVID-19 Strategic Task Force, chaired by Steve Bradshaw, presiding officer of the Board of Commissioners.”
The county selected Citizens Trust Bank to administer $10 million of the loans. Small business owners can apply for up to $40,000 in loans beginning Aug. 27 through Sept. 7, 2020.
Loan applicants can use the money for the following expenses if their loans are approved:
· Payroll (gross federal wages)
· State unemployment taxes and local taxes
· Employee benefits
· Business mortgage interest
· Business property rent payments
· Commercial property utilities
· Interest on other business debts
Business owners interested in more information can visit this link: www.dekalbcountyga.gov/COVID19loan
“We are fighting a pandemic that undermines the health and economic well-being of our county,” DeKalb County CEO Michael Thurmond said in a press release. “Small businesses have been hit hard and are critical to DeKalb’s economic growth and prosperity.”
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