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March 30, 2020

Tacoma has loans for small businesses

By JOURNAL STAFF

TACOMA — The city of Tacoma's Community and Economic Development Department is offering loans to help small businesses manage the negative economic impacts of COVID-19.

The COVID-19 Stabilization Loan Program offers loans of up to $15,000 to small businesses with brick-and-mortar establishments within Tacoma city limits and 10 or fewer employees. According to a release from the city, applicants must have been operating in Tacoma for at least a year, and be able to document a significant loss in revenue or sales due to COVID-19.

There is no cost to submit an application. Loan payments will be deferred for 12 months after loan closing.

More information is available at http://www.makeittacoma.com, which also offers information about other available business resources. Questions regarding the the COVID-19 Stabilization Loan program should be emailed to covid19loan@cityoftacoma.org.




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