Dubuque County is starting an emergency loan program to help small businesses impacted by COVID-19.
The Emergency Loan Program offers a three year loan up to $10,000. Payments are deferred for the first six months and then payback of principal with a one-percent interest rate for the remaining 30 months of the loan. Funding from the loans can be used to cover ongoing monthly operating expenses, restocking supplies and inventory, and helping with expenses related to social distancing protocols.
To qualify, the business must be located in Dubuque County but outside of the city of Dubuque, have 25 employees or less, operate out of a brick and mortar location, have been in business for at least two years and have a loss of income due to COVID-19.
Applications for the loan program opened yesterday and will be accepted until the end of the year or until the loan pool is depleted.
To apply, contact the NICC COVID-19 Business Helpline at 563.588.3350 or email firstname.lastname@example.org. You can also contact Matt Specht at ECIA at 563.690.5721 or email email@example.com.