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Applications for new round of small business loans opening in Decatur

A monetary enhance; it’s one thing many companies have desperately wanted all through the pandemic.

Now, there’s extra assistance on the way in which for Decatur companies.

Nevertheless, Wednesday we came upon for some companies, that assist isn’t wanted as a lot anymore.

Twenty thousand {dollars}: that’s the mortgage quantity a small Decatur enterprise might obtain beneath this new spherical of funding from town of Decatur and chamber of commerce.

Enterprise homeowners might even have that zero curiosity mortgage forgiven.

A metropolis spokesperson tells us between town, chamber and the entrepreneurial middle, this cash will come from leftover CARES Act Funding. The proprietor of Decatur Printing Options says $20,000 could possibly be very useful to him.

He says his largest problem proper now could be ready on supplies he must do enterprise.

“We truly bought some stuff from Texas, we ordered it three months in the past. It simply arrived yesterday. Lots of the distributors that I speak to which are supplying us, they are saying we are able to’t discover anyone to work, we now have to close down, we now have to get smaller,” says proprietor Scott Jones.

And the availability chain points are driving up costs within the restaurant business. Proprietor of Such and Such Burgers and Tacos, Jason Such says paper merchandise and meat are costing much more.

“I don’t get any reduce on price, I don’t get bulk price. So proper now, each penny counts,” Such stated.

Such says his outdated distributor raised prices by 66%. So he partnered with Sutton Farms, an area meat provider.

“They really matched the chain restaurant, chain suppliers so I can truly afford their beef. And it’s an ideal product on the market.”

Nevertheless Such says enterprise is booming and if he had been to obtain the cash, it wouldn’t go into his pocket.

“I might go and provides my staff a bonus. As a result of they’re working 60-65 hours per week. I’m doing all the things I can to handle them. As a result of with out them I wouldn’t be something,” he defined.

In case you are a enterprise proprietor in Decatur and wish to apply you could have:

25 or fewer staff
Been in operation one yr earlier than March 2020
Greater than 51% of the employees should obtain a low or moderate-income
Final yr, 25 companies had been awarded cash. The mortgage may be spent on payroll, utilities, lease or mortgage prices. The applying opens on Feb. 16

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