The City of Middletown is offering businesses located within the City low- interest forgivable financing through the newly formed Small Business CARES program. This unique financing tool offers forgivable loans to small businesses operating in the City of Middletown that have been negatively affected by the outbreak of the COVID-19 virus. Businesses must demonstrate hardship caused by the COVID-19 virus outbreak in order to qualify for financing.
Under this program, the City will provide emergency micro-loans to businesses negatively affected by the COVID-19 outbreak. Businesses with twenty-five (25) or fewer employees are eligible to apply for funds, which will be used to pay for normal businesses expenses that have been made more difficult due to declining revenues caused by the COVID-19 outbreak.
Businesses may apply for up to $10,000 in funds under this loan program. Businesses must have a physical location in the City of Middletown and have experienced a loss of income due to COVID-19. Funding is limited and applications will be accepted November 16, 2020 – November 20, 2020. Funding will be granted based on scoring sheet below.