Stearns County HRA Offering Emergency Small Business Loans
COLD SPRING -- Stearns County and the Stearns County HRA are matching dollars from their revolving loan fund to create an emergency loan fund for small businesses impacted by the COVID-19 pandemic.
County Administrator Mike Williams says businesses who are closed or partially closed will have access to a $5,000 zero-interest loan with no payments for six months and a two-year payback term.
Williams says the loans can be used as a bridge loan until more favorable funding becomes available through the Minnesota Department of Economic Development or the Small Business Administration.
These loans are for Stearns County businesses not located in St. Cloud.