Mayor Thomas M. McDermott, Jr. and the Mayor’s Office of Economic Development are pleased to announce that funds are being made available to help small businesses that have been affected by the COVID-19 pandemic. The program, entitled the Small Business Resiliency Program will provide up to $10,000 in the form of a forgivable loan to qualified Hammond small businesses.
“Small business is the backbone of any community and they have been hit especially hard during this pandemic. They employ our families and neighbors and many employees have been laid off as businesses have had to close. This program will help expedite the recovery to these businesses and our local economy and I’m excited to play a role in getting us all back on track,” said Mayor McDermott.
The program, that will begin accepting applications next Wednesday, May 27th is for businesses with less than 50 employees, are brick and mortar and that are locally owned. Funds can be used for rent or mortgage payments, utilities, insurance, property taxes, COVID related equipment or other approved business expenses. Businesses must provide documentation with their application showing the effect of the pandemic on their operations and the application will be reviewed for approval. “We will have a simple, online application for businesses owners to access and we will be here to answer any questions during the application process,” said Director of Economic Development Anne Anderson.
The program will be available from May 27 – June 26, 2020. “We want to help our small businesses weather this storm,” said Mayor McDermott. “These businesses are what make our city a community—they add to what makes Hammond unique and diverse and we want to make sure that they are still here once we make it through this crisis,” said the mayor.