STATE COLLEGE, Pa. (WTAJ) — On Monday, the State College Borough opened up their second round of relief loans, to help small businesses survive during the COVID-19 pandemic.
The borough is offering up to $20,000 of microloans, with zero percent interest to businesses located within the municipal.
One borough official says they want to make sure local small businesses don’t lose their livelihood from the pandemic.
“We don’t want to see anyone lose their livelihood or lose their small business because of this pandemic and making decisions in terms of capacity, in terms of staying open, staying closed, there’s a lot of decision points that we want to make sure they make those decisions responsibly, but also to have the funding and resources to sustain,” Douglas Shontz, Assistant to the Manager of the State College Borough, said.
The borough says priority will be given to businesses who have the largest percent of revenue and income loss since the issuance of Governor Wolf’s emergency declaration on March 6, 2020.
Shontz says businesses can apply for the loan on the borough’s website, and funding will be available until all of the loan money runs out.
The Borough also adds that businesses that received this loan previously are eligible to apply again.