The Chamber of Commerce, in conjunction with the City of Glendora are offering financial assistance to Glendora small businesses that are experiencing financial hardship due to the Coronavirus (COVID-19) pandemic.
The COVID-19 Business Recovery Program is a forgivable loan program created to assist small for-profit businesses facing economic hardship as a result of the COVID-19 stay at home orders. The program is intended to provide emergency financing to businesses that were unsuccessful in obtaining financing from other state and federal programs. Loans ranging from $5,000 to $15,000 will be allocated to eligible, qualified small businesses based on availability of funds and review of the application and required documentation submitted.
The program is funded through the Community Development Block Grant Coronavirus Fund (CDBG-CV). Due to the federal funding source, the program requires that the funded activity provide a benefit to low- to moderate-income (LMI) persons. This requirement can be met through job retention of an LMI individual.
No application fee or collateral are needed to apply. Applications will be reviewed as they are received, and loans will be processed as long as funds are available. The loan converts to a grant that does not need to be repaid after four quarters of compliance have been met.
Program requirements and applications for the program are available at
Glendora-Chamber.org/cdbg. If you have any questions please contact Joe Cina, Glendora Chamber President/CEO at joe@glendora-chamber.org or 626-963-4128.
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