4 years ago by Scott Hardy
City will loan $500,000 at 1% interest, once ordinance is approved Monday
Quincy Mayor Kyle Moore has announced the formation of a community task force to help deal with the effects of the coronavirus pandemic, and a new loan program for the city's small businesses. Scott Hardy has more.
( Audio 1:59 )
Moore announced the moves Friday morning at a press conference at City Hall. He describes what the Adams County Community Response Task Force will do.
( Mayor Kyle Moore :22 )
The 12-member Task Force, a mix of government, business, faith and non-profit leaders, includes Adams County Board Vice-Chairman Bret Austin, County EMA head John Simon, QPS Superintendent Roy Webb, GREDF head Marcel Wagner and JWCC President Mike Elbe. The Task Force plans to send out a survey to businesses, churches, non-profit groups and government agencies asking what they need to get by during the pandemic. Moore also announced the impending creation of the Small Business Emergency Loan Fund.
( Mayor Kyle Moore :31 )
The $500,000 fund will be formed using money from the city's Economic Development Loan Fund. Moore says that the City Council has agreed to waive three readings of the ordinance and pass it Monday night. The plan is for the loan application to be posted online at the city's website Tuesday morning, and the Fund's Loan committee will then meet Wednesday, April 8th, and each Wednesday after that. Moore says that checks could go out by mid-April. The 18-month loans for small businesses of 2 to 50 people would have only a 1 per cent interest rate.
