The
deadline to apply for a special disaster business loan program offered by the Windham
Economic Development Corporation (WEDC) has been extended.
According
to WEDC executive director Tom Bartell, the COVID-19 Disaster Business Loan
Fund is designed to provide business continuation and recovery funds to
existing Windham-based business to assist businesses through these times of
economic hardship during the COVID-19 pandemic. Applicants can file for loans
starting June 1 and the program will be available through the end of the
pandemic.
“I
want to thank the Windham Economic Development Board for their hard work on
putting this plan together,” he said. “We also want to thank the Windham Town
Council and Barry Tibbetts, Town Manager, for providing additional funding for
the COVID-19 Disaster Business Loan Fund.”
Bartell
said that there are basically two types of COVID-19 Disaster Business Loans
available, including a Business Continuation loan, and a Business Restart loan.
There
is no minimum or maximum loan amounts and it is expected that the loan amounts
will range from $5,000 to $20,000, Bartell said.
According
to Bartell, the Business Continuation Loan is intended for existing businesses
which have remained open during the pandemic, but whose operations have been
reduced because of Federal, state, or local restrictions as a result of the
pandemic.
He
said that the Business Restart Loan is intended for applicants whose existing
businesses which have ceased operations due to Federal, State, or local
restrictions in reaction to the COVID-19 pandemic and have committed to
restarting the business when the mandates are lifted.
“Again,
our goal is to help Windham business owners with financial assistance to keep
their business afloat. Whether you are a sole proprietor, partnership, LLC., or
a corporation, please reach out if your business needs financial assistance,”
Bartell said. <
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