Rockford announces second round of COVID-19 relief loans
ROCKFORD — The City of Rockford will offer another round of Community and Economic Development micro-enterprise loans this month.
Sept. 14-18, business owners with five or fewer employees may apply for the program that allows for a $10,000 grant combined with a $15,000 business loan totaling $25,000 in working capital for businesses affected by COVID-19.
Business owners must meet HUD’s low-to-moderate income thresholds to quality for the four-year, 0-percent loan with a 12-month deferred payment period.
Funding for this program is provided by the Community Development Block Grant, a federally funded program through HUD.
The city has scheduled webinars next week to provide business owners with more information. Each session will occur at 7 p.m.
Monday, September 14 – Webinar in English
Tuesday, September 15 – Webinar in Spanish
Wednesday, September 16 – Webinar in Arabic
To apply starting Sept. 14, visit the City of Rockford website.