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Help for Our Monticello Businesses

help-business-blog
Updated Thursday, May 20th at 1:50PM

APPLICATIONS FOR SMALL BUSINESS LOANS IS CLOSED.  PLEASE RETURN TO THIS POST FOR UPDATED INFORMATION.


  City of Monticello Small Business Loan Press Release - Wednesday, May 13, 2020

  City of Monticello Small Business Loan Program Overview/Information
  City of Monticello Small Business Loan Application

The City of Monticello is proud to announce a resolution passed at Monday's meeting that assists Monticello small businesses in the form of a loan program.  The monies, established by the 'Economic Development Income Tax Fund' (EDIT Fund), are earmarked to:
  • promote employment opportunities
  • and/or retain/expanding current businesses
Many of our Monticello small businesses have suffered severe economic losses due to state and local public health measures in response to the COVID-19 Pandemic.  Affected small businesses will be able to request loans from the EDIT fund.

The City of Monticello Resolution dated May 11, 2020 can be reviewed here.

O
n Wednesday, May 13th, the City of Monticello released two documents to business owners.  The first, an information/overview document.  This document outlines the loan eligibility requirements, the loan approval process, and payment data.  It also established a timeline for the review process.  The second document is the actual loan application.  The first application due date is Tuesday, May 19th at noon.  Loans will be awarded on a first come, first serve basis.  The application process will close on Tuesday, June 2nd at 4PM or when all the funds have been rewarded.

Loan recipients will be reviewed by the committee weekly, and awards will be distributed by the Clerk-Treasurer’s office as soon as possible after award. Initial payments from the original application deadline are expected to be issued on Monday, May 27, 2020.

To review all documents including the information/overview and application, please click here.

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