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Businesses can apply for DeKalb County small business loan program starting Aug. 27

Business COVID-19 Decatur Editor's Pick Metro ATL

Businesses can apply for DeKalb County small business loan program starting Aug. 27

DeKalb County CEO Michael Thurmond. Photo by Dean Hesse.
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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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