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Monroe County small businesses may be eligible for COVID-19 loan
Dawn Ouellette Nixon//April 16, 2020
Monroe County small businesses may be eligible for COVID-19 loan
Dawn Ouellette Nixon//April 16, 2020
Monroe County small businesses struggling due to the coronavirus crisis may be eligible for the county’s COVID-19 small business loan program. The program, designed for for-profit businesses with up to 20 employees, is offered to businesses open for at least a year.
Loans are available for between $3,000 and $20,000, for a three-year term with an interest rate of 1%.
According to the Pocono Mountains Development Corporation, no payments on the loan will be due in the first year. Principal and interest payments will be due in the second and third year, and a balloon payment will be due at the end of year three.
The application period runs from April 20 to May 11, and interested applicants should reach out to the Pocono Mountains Development Corporation at 570-839-1992 or email [email protected]
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