The City of Webster City has announced that it is providing 47 local small businesses with forgivable loans to provide relief from COVID-19 related losses for a total of $150,000. The list of businesses and loan amounts are now posted to the City website. The forgivable loans are interest-free, and the payments deferred for 12 months, after which time if the business remains in operation and good standing with the City, the loan will be forgiven. The recipients will be required to provide quarterly reports to the City for the duration of the loan.
Applications for the loan are closed at this time.
The Council may choose to open another round in the future if there is evidence of sufficient need. Inquiries may be directed to Community Vitality Director, Lindsay Henderson, at lhenderson@webstercity.com.
Last modified: May 7, 2020