Vincennes council passes resolution setting up emergency loan plan for small businesses
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Coordinate response and make decisions.
Local businesses are being hit hard by the pandemic... but one wabash valley city is stepping up to give a helping hand.
News 10 bureau chief gary brian tells us what vincennes city leaders are doing to help.
"vincennes city leaders held a special city council meeting this afternoon.
They held the meeting to address hardships that small businesses in the city are facing during the pandemic.
Now i called into that meeting...here's what happened."
The council passed resolution 4-2020.
The resolution sets up an emergency micro loan plan for small businesses in the city.
Funds for the plan are being used from the vincennes revolving loan fund.
This will allow business to borrow up to five thousand dollars from the city.
State and federal governments are also having similar programs to help.
However..
The wait time for those programs are saturated across the board.
City leaders encourge businesses to reach out to the state and federals levels first to get on the waiting lists.
But the city is ready to help when it can.
"to get the process started you need to contact the clerk treasurers office.
To get the application.
Once you get the application filled and turned back in we'll get it to the revolving loan fund board.
And try to hopefully meet once a week to look over the applications that we receive and see what we can do."
"now be sure to tune in tomorrow to news ten first at five and news ten at six as i plan to speak with jamie neal with the knox county chamber of commerce and find out how businesses are doing here in the county.
Working from home in vincennes, gary brian news 10."