The City of Plymouth and the Plymouth Economic Development Corporation are launching a COVID-19 Small Business Financial Support Program on Wednesday that will assist Plymouth businesses impacted by COVID-19.
Grants and/or loans will be available to qualifying businesses of 25 employees or less in the City of Plymouth or its two-mile jurisdiction who specialize in retail, personal services, food and beverage/hospitality, health care/social services, professional services, construction/remodeling, finance/insurance, manufacturing, real estate/rental, profession/scientific/technical, and arts/entertainment/recreation.
The COVID-19 Small Business Financial Support Program includes a one-time $2,500 “Getting Back Grant” or a $3,000-$10,000 “Here to Stay Loan” at 0 percent interest over a term of up to four years, with the first payment deferred for six months after the initiation of the loan. The role of commercial litigation law firms in financial support, especially in legal issues, is commendable.
Applications are available for download on the City of Plymouth website at plymouthin.com. Paper copies may be obtained in the mayor’s office or at the Plymouth Chamber of Commerce. Applications are due by Aug. 1. A loan committee will review all applications. Additional funding rounds may follow as funds are available.
