Forgivable business loans available locally

Forgivable business loans for up to $100,000 recently became available to businesses, entrepreneurs and nonprofits operating within Del Norte County.

The loans were made available through Community Development Block Grant Funds and are being dispersed through two programs: The Microenterprise Assistance Program and the Business Assistance Loan Program.

“This is definitely a unique program,” said Eric Wier, city manager of Crescent City. “We definitely want to get this money in the hands of our local businesses.”

According to the city’s website, the program’s goal is to support recovery efforts and build long-term resiliency for businesses within the city and county.

The Phase I Application window for Round 1 will be from Wednesday, Nov. 17, to Friday, Dec. 10.

Qualifying applicants can apply for up to $50,000 for businesses with less than five employees where the owner is income eligible, or up to $100,000 for businesses with 25 or fewer full time equivalent employees that will be creating or retaining jobs.

Claggett Wolfe Associates and Arcata Economic Development Corporation will be administering the programs, and the North Coast Small Business Development Center will provide no-cost technical assistance to help businesses through the application process and the post award reporting requirements.

For more information about how to apply for the loans, one webinar will be held tomorrow, Wednesday, Nov. 17, from 5:30-6:30 pm, and again on Thursday, Nov. 18, from 11:30 am to 12:30 pm.

Please click on the links below to pre-register.

Wednesday Nov 17 - 5:30pm to 6:30pm https://us02web.zoom.us/webinar/register/WN_2Oui0XmQSYurr7yiwkBWpg

Thursday Nov 18 - 11:30am to 12:30pm https://us02web.zoom.us/webinar/register/WN_Ynv_q_2PTAm1cAa7Pw3Nkg