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 the region. Watch the live event from the GFF Facebook page on Tuesday, May 26 at 7:30 a.m.
As an approved small business emergency loan (SBEL) lender, WCI has available funding to help those small businesses still closed at least until June 1. 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 toward 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.”