Austin launches Small Business Loan program

Small businesses in the City of Austin can now start applying for financial aid from the city for up to $35,000. These dollars are to help tie businesses over until SBA loans kick in. The deadline to apply is May 8th.

As the Corona Crisis continues, many of Austin’s iconic restaurants and businesses have had to shutter their door permanently. In previous City Council meetings, the city leaders approved the “Austin Economic Injury Bridge Loan Program,” to help local businesses. These dollars come with a few rules:

“We understand that small businesses in Austin are still navigating the road to economic recovery,” explains Veronica Briseño, Director of Austin’s Economic Development Department. “The Austin Economic Injury Bridge Loan Program will help small businesses retain employees and pay for expenses like rent and fixed debt. This is one of the many ways our department is supporting small, local businesses experiencing economic loss due to the COVID-19 pandemic.”

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