The Dubuque County Board of Supervisors has partnered with E.C.I.A. and the NICC COIVD-19 Business Helpline to implement an Emergency Loan Program to assist small businesses that are struggling due to the impact of the COVID-19 pandemic.
The Emergency Loan Program offers a three-year loan up to $10,000. Payments are deferred for the first six months, and then payback of principal with a 1% interest rate for the remaining 30-months of the loan. Loan funds may be utilized to cover ongoing monthly operating expenses, restocking of supplies and inventory, and/or expenses incurred related to COVID-19 “social distancing” protocols. There is no fee to apply for the Loan.
Supervisor Jay Wickham said “I am pleased to get some financial relief for businesses throughout Dubuque County. Working through the NICC Hotline and ECIA will make this local program a quick turnaround for businesses.”
To qualify, the business must be located in Dubuque County but outside the City of Dubuque, have 25 or fewer employees, operate out of a brick and mortar location, have been in business for at least two years, and have a loss of income due to COVID-19.
Applications for the loan program will be accepted starting May 11 and will be accepted until the loan pool is depleted or Dec. 31, 2020. To apply contact the NICC COIVD-19 Business