Small Business Support Program Introduced | Local news
Back to Business Brunswick, a plan to fight the costs of the COVID-19 pandemic, is now accepting applications for small business grants and low interest loans.
Mathew Hill, director of the Brunswick Downtown Development Authority, said his office will accept applications and be responsible for distributing funds within the development agency’s boundaries.
The Golden Isles Development Authority will be responsible for distributing funds to businesses within city limits that are outside the jurisdiction of the Downtown Development Authority.
The first loan program called Capital Assistance and Relationship Lending offers micro-emergency loans and a larger secured loan of up to $ 20,000 for new and existing businesses.
“The creation of this program is due to the lack of credit relationships with corporations and financial institutions at the start of the pandemic,” the announcement reads. “Many small businesses have struggled to get support like the paycheck protection program because of these shortcomings.”
A central element of the program is the establishment of working and credit relationships between the city’s entrepreneurs and the financial institutions.
The second program, property stabilization and market readiness, serves to stabilize culturally and / or historically significant buildings and to renovate the interior for actual use. Buildings like those in the Norwich and Albany street corridors can qualify.
The main goal is to correct the ruin and decay of commercial buildings and create usable space within these communities for future entrepreneurs.
The Brunswick Relief Grant helps small businesses that may be adversely affected by the pandemic. A corresponding grant of up to $ 15,000 is awarded quarterly to qualified business owners. And a mismatched grant of $ 5,000 can be added for people development.
Entrepreneurs can use the funds for internships, recruitment bonuses, salary increases and training courses. And companies hiring graduates from the College of Coastal Georgia, Coastal Pines Technical College, STAR Foundation, and Golden Isles College and Career Academy may receive additional funding.
Small businesses anywhere in the city can call the Brunswick Downtown Development Authority at 265-4032 to apply for a loan, grant, or for more information. Or go to the city’s website brunswickga.org and click the Downtown Development Authority link.