The County of Colusa is seeking public input as they develop a Business Assistance Program to assist local establishments that have been impacted by the COVID-19 pandemic.
“In order to determine how best to develop a financial assistance program, we need your input so that any programs we develop will address your specific needs and the needs of other businesses throughout the county,” said Greg Plucker, community development director for the County of Colusa.
According to Plucker, two tentative programs have been identified to utilize the approximately $1.1 million available from the county’s Program Income Fund and public input is encouraged through July 24.
The first proposed program would allow the county to grant low-interest loans for businesses that are now financially struggling due to COVID-19 related impacts.
“These low-interest loans would be used to retain employees that would otherwise have to be laid-off due to current business conditions,” read a release issued by the county’s Community Development Department last week.
According to the release, repayment of the loans would be deferred for approximately six to 12 months and, provided the employee is still retained once payments begin, portions of the loan may be forgiven.
“The longer the position is retained, the more the loan could be forgiven,” read the release. Loans up to $35,000 per income-qualified employee would be available to all businesses throughout the County, according to the release.
The second proposed program would provide financial cash grants for businesses financially struggling due to COVID-19 related impacts.
“These cash grants would be limited to businesses that have five or fewer employees and each employee would have to be income qualified,” read the release. “The actual amount of the cash grant would be limited based on the number applicants but could range from $1,000 to $5,000.”
Plucker said the county has also identified another source of funds from the State through its Community Development Block Grant Coronavirus Response Round 1 funding.
“The County is eligible for almost $70,000 that we want to put to work in the County,” said Plunker.
For more information or to provide feedback, call Tana Loudon at 458-0486 or email@example.com.