Loans – Ark-Tex Council of Governments providing Covid-19 loans | Free
The Ark-Tex Council of Governments met Thursday morning to deal with some much-needed enterprise earlier than the vacations.
The group met through Zoom and reviewed Covid aid accessible to native companies, introduced by Melody Harmon.
“We have put out some information … to the public regarding the program,” she mentioned. “We just received notice we will be adding back the counties from the ETCOG area, because they did not receive their funding, so we will be making an amendment next time.”
This system is to assist with Covid-19 aid for native companies. Based on Harmon, the loan should be associated to the virus, it can’t cowl payroll-related bills, it has no reimbursement penalty and the present enterprise should have been in operation for a minimum of two years to use. The Council of Governments has acquired $500,000 to assist space companies keep afloat through the pandemic, and the loans have low rates of interest, she mentioned, about 2.5%. The minimal for a loan is $5,000, with a max loan of $50,000.
“We have updated our application, Harmon said. “It is available on our website. If you see someone that has an interest, direct them to our website.”
They’ve already had 5 companies apply, and one permitted up to now, she mentioned. The permitted loan was for $50,000.
The group additionally permitted contracts for the Juvenile Justice Companies for Bowie, Cass, Hopkins, Lamar, Pink River and Titus counties. The council additionally reviewed and permitted allow renewals for Atlanta, Bogata, Linden, Maud, Omaha, Reno, Roxton, Talco, Winfield, Queen Metropolis, Delta County Municipal Utility District, Hooks ISD, Kimberly-Clark Company, Riverbend Water Assets District, the U.S. Dpet. of the Military for the previous Lone Star Military Ammunition Plant, TCI Texarkana Inc., and Texana Tank Automotive and Manufacturing Ltd.
The group additionally submitted its five-year plan for the federal government housing selection vouchers program for low earnings households.
For the Covid-19 aid loans, Harmon directed these to atcog.org/covid-19-rlf/, or to name their workplace at 903-832-8636.
