Kosciusko Economic Development Corporation (KEDCO) recently expanded its Small Business Relief Fund to offer more loan options for local small business owners.
The KEDCO Small Business Relief Fund was established during the COVID-19 pandemic to support existing small businesses in Kosciusko County. The fund aids with business recovery needs and job retention, and supports businesses as they journey forward post-pandemic. Funding is available to eligible small businesses in Kosciusko County.
The fund is comprised of designated dollars in KEDCO’s existing Revolving Loan Fund program, and dollars committed last spring by the county, Warsaw and Winona Lake governments for businesses in those municipalities. The Indiana Office of Community and Rural Affairs (OCRA) recently awarded KEDCO additional funding in the amount of $245,000 to the Small Business Relief Fund to support business recovery efforts.
“One of the primary goals of the COVID Response program was to stabilize small businesses across Indiana. Providing funds for the KEDCO Revolving Loan Fund program will support existing recovery efforts that will impact vital businesses in Warsaw and Winona Lake. This exemplifies how state and local agencies can collaborate to positively impact Hoosier lives as together we move down the road to recovery,” said OCRA Executive Director Denny Spinner.
With the recent funds received from OCRA, KEDCO is offering three different loan options ranging from $5,000 to $25,000, with a potential for loan forgiveness. More information about each loan option, application requirements and eligibility can be found at www.kosciuskoedc.com/small-business-relief-fund-application. The program will end when all funds are committed. There is no fee to apply for any loan.
“Our team worked with local and state partners to build a relief fund specifically focused on businesses that have not been able to access other funding sources,” said KEDCO CEO Alan Tio. “We designed our program with flexibility to meet the needs of each specific business.”
To learn more about KEDCO and its offerings for small businesses visit www.kosciuskoedc.com. KEDCO also has accounts on Facebook, Linkedin and Instagram @kosciuskoedc.