Kosciusko Economic Development Corporation (KEDCo) on Thursday announced the establishment of the Small Business Relief Fund to support business recovery and job retention.
KEDCo is seeking funding for the Relief Fund from local- and state-level sources. The city of Warsaw is the launch partner for the program, with a commitment of $100,000 for businesses located within the city limits.
The Relief Fund will make loans of up to $10,000 to support business recovery and job retention among businesses with 50 or fewer employees. The loans will be available for up to 24-months at 0% interest with deferment of the first payment up to six months. For more information, contact KEDCo.
In addition, KEDCo still has $40,000 available in early stage loan funding in increments of up to $10,000 each. The loans are available for 12- or 24-month terms at Prime+1% and a minimum of 5% borrower participation with personal guarantee.
