Businesses in Indiana County are reminded that they can receive some relief from Covid-19-related expenses through the county’s Revolving Loan Fund Program.
Through the Indiana County CARES Act Revolving Loan Fund Program, businesses can receive up to $50,000 to pay for working capital, like payroll, fringe benefits, utilities and rent, however they cannot be used to pay the same expenses for which the business received other Covid-19 funds. The interest rate will be 0.0% for the life of the loan, which will be 72 months. The first 12 months, there will be no charges for principal payments, then principal payments would be due for the remaining 60 months. Borrowers have to commit to retaining existing jobs.
The program is being administered through the Indiana County Office of Planning and Development, and a form can be found on their website.
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