IE Business Daily Business news for the Inland Empire.
The Town of Apple Valley has started two loan programs meant to help businesses hurt by COVID-19.
The Microenterprise Assistance Program is designed for businesses with one to five employees, according to a statement on the town’s website.
It offers grants up to $30,000 for backpay of rent and utilities, cash for payroll, purchase of Personal Protective Equipment (PPE) and for services that will increase or change business practices such as website development or converting to outdoor business activities.
Applications are available now and will be processed starting March 9.
The second program, the Small Business Assistance Program, is for businesses that employ up to 50 people. It’s offering up to $50,000 for capital purchases similar to those covered by the Microenterprise program, with applications to be processed on a first-come, first-served basis.
“Our small businesses and entrepreneurs are the lifeblood of our local economy and when they succeed, our community succeeds,” said Mayor Curt Emick in the statement. “As a small business owner, I’m pleased the town can offer additional capital to help our small business community rebuild and rebound in 2021.”
Personal income will be the primary criterion for eligibility in the Microenterprise program. For the Small Business program, financial loss due to COVID-19 will be a major factor in determining the size of the loan.
To be eligible for either program a business must have been in existence for at least one year, according to the statement.
