GFF & WCI to Co-Host Q&A on Emergency Funding For Small Businesses
Steve Hesky | May 22, 2020 AT 2:19 pm
(Fergus Falls, Minn.) - Greater Fergus Falls (GFF) and West Central Initiative (WCI) are co-hosting a live Q&A session to answer questions from within the business community about available funding programs for our region. Watch the live event from the GFF Facebook page on Tuesday, May 26th at 7:30 am.
As an approved Small Business Emergency Loan (SBEL) lender, WCI has available funding to help those small businesses still closed at least until June 1st . Tune in to learn more about this interest-free loan with potential partial forgiveness from $2,500-$35,000. This Q&A will cover eligibility, requirements, the general process, and the potential for forgiveness. This program is geared towards small businesses such as breweries, hair salons, fitness centers, massage therapists, and other places of public accommodation who didn’t receive enough funds or were ineligible for other loan programs. This program is also available to sole proprietors as well.
WCI’s Business and Economic Development Director Greg Wagner says, “Between safe-opening requirements, and some people’s hesitancy to venture out, we know that this won’t be a light switch getting turned back on, it will be more of a slow trickle of customers coming back,” he continued, “Many businesses have been hesitant to take on more debt in light of the uncertainty of the times, and it is likely some uncertainty will continue. The State of Minnesota’s Small Business Emergency Loan might be an answer for assisting with operating expenses in the interim.”
The mission at GFF is to support and grow the area business community by retaining existing businesses, revitalizing our local economy, and recruiting new entrepreneurs and innovators. The vision is to provide support to a vibrant business community through the removal of barriers for start-ups, expansions, and ensuring the continued health of existing businesses in our area.
Press Release and Picture from Greater Fergus Falls