$200,000 Combined Funding Available from Garrett County Economic Development and Garrett County Development Corporation
A newly developed local small business loan program designed to assist Garrett County small businesses through the COVID-19 health crisis has been announced jointly by the Board of County Commissioners for Garrett County and the Garrett County Development Corporation. The goal of the program is to provide small businesses with loans for interim emergency funding to help pay legitimate business expenses such mortgage, rent, utilities, insurance, taxes, etc. in order to remain solvent, continue business operations, or eventually restart the business.
“In the face of multiple small business closures and uncertainty for the length of this public health crisis, we knew we had to pull together some emergency funding,” said Michael Hough, Director of the Garrett County Economic Development Department. “I encourage any local businesses to take advantage of this opportunity or, at a minimum, contact our office to walk through the available options. We sincerely appreciate the partnership with the Garrett County Development Corporation in making this happen.”
- Have applied, or will be applying, for available Federal and State funding programs
- Show a plan to remain a solvent, viable business
- A completed loan application
- A personal financial statement of the principals/guarantors
- A fiscal year-end financial statement on the borrowers
