COVID-19 relief loans still available for businesses in Winnebago Co.
OSHKOSH, Wis. (WBAY) - Over the last several months the pandemic’s economic impact has been felt, especially among small business owners.
“We’re one of those few resources that currently exists,” said Jason White, President and CEO of the Greater Oshkosh Economic Development Corporation.
White points out many financial relief programs offered earlier in the pandemic are long gone.
“Like the PPE for example, the ‘We’re All In’ grants have been allocated,” said White. “There’s no guarantee that the federal government will pass another stimulus at this point.”
But the economic development group is still managing two financial loan relief programs: The Greater Oshkosh Emergency Response Loan for small businesses in Oshkosh, and the Winnebago Co. Rapid Recovery Loan which is available to Winnebago Co. businesses.
Both programs have loans available in $10,000 increments with a two-percent interest rate.
“We weren’t sure what kind of demand we’d see from the start,” said White. “I think much like this pandemic there’s a lot of uncertainties at this point, so you’re not going to find two businesses that are facing exactly the same situation.”
So far White says they’ve given out about a third of the money, with about $1.3 million in funding still available between the two programs.
“In most cases, businesses are not wanting to take on a lot of debt,” said White.
White believes that, for those needing some help to get by, they offer one of the more flexible programs a business can find right now.
“Unlike a traditional loan program we’re not in this to make money offer the interest or what have you, it’s first and foremost all about helping businesses to survive during this time,” said White.
To learn more about each program, visit the Greater Oshkosh Economic Development Corporation website.
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