$30,000 forgivable loans available to businesses in Truckee
TRUCKEE, Calif. — Sierra Business Council on behalf of the Town of Truckee is administering a program that provides affordable, flexible, and potentially forgivable financing to eligible small businesses.
Funded by Community Development Block Grant-Coronavirus funds, these programs are designed to stimulate economic growth and provide support in the recovery from COVID-19 through job retention.
“It can be very challenging for small businesses to find financing,” said Jess Carr, director of the Sierra Small Business Development Center at Sierra Business Council. “The capital infusion these loans provide, especially if they are forgiven, will have a huge impact on Truckee’s local economy and our community’s COVID-19 recovery.”
The program offers two types of loans of up to $30,000 for COVID-impacted eligible businesses within Truckee town limits. Both loans offer forgiveness if all program requirements are met and the funds are spent within three months of disbursement. Eligible use of funds includes inventory, payroll, equipment purchases, operating capital, and more.
“The Town of Truckee recognizes that the pandemic has been a challenging period for many of our small businesses. We are thrilled to offer additional funding opportunities to support business recovery through our partnership with Sierra SBDC and funding from the Community Development Block Grant program,” Hilary Hobbs, Town of Truckee assistant to the town manager.
Accompanying the loan program is access to the Sierra SBDC’s confidential, no-cost, one-on-one advising with a team of experts in many technical assistance areas. The SBDC consultants can assist you with cash flow management, financials, capital access, marketing, web design, growth strategy, and much more.
To learn more about the loan program and its eligibility requirements, visit https://www.sierrasbdc.com/truckee-forgivable-loans/
The funding for these programs is provided by the Department of Housing and Urban Development to the California Department of Housing and Community Development and the Town of Truckee.
Source: Sierra Business Council
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