Harris County Announces $10M To Local Small Business

Harris County Announces $10M To Local Small Business

April 9, 2020
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Local businesses can apply for fogiveable loans up to $25,000 by going to www.harriscountyloan.com from the website:

Harris County has partnered with the Houston-Galveston Area Council to develop and administer an economic development loan program in response to the COVID-19 pandemic. The program aims to help businesses impacted by the pandemic by offering zero-interest, forgivable loans to meet ordinary and necessary operating expenses and obligations. The program is designed to be nimble and responsive to bring financial relief to small businesses who have sustained significant economic injury. Businesses will be able to use the funds to cover working capital costs, such as payroll, accounts payable, rent, mortgage and other necessary expenses. The goal is to be a resource that businesses may leverage to help them survive during the crisis and resume normal operations.

The Harris County COVID-19 Forgivable Loan Program Assistance may be used in conjunction with other disaster loan programs and will not duplicate the proposed use of loan proceeds for these programs. Additionally, the Harris County Loan may be used as a bridge loan for borrowers who have applied for the US Small Business Administration’s Economic Injury Disaster Loan (EIDL) program. The Harris County Loan may be paid in full with the loan proceeds from the SBA’s EIDL program or other long-term loan programs.

Visit their page at the link above to apply online.