BATTLE CREEK, MI (WKZO AM/FM) — Battle Creek city officials have announced a new program to provide zero-percent interest loans for some small businesses affected by the COVID-19 pandemic.
The project, known as the Rent and Mortgage Assistance Program (RMAP), is created by the city’s Economic Development Corporation, Battle Creek Unlimited.
According to officials, the program will benefit small businesses in target commercial districts. The city’s Small Business Development Office (SBDO) will administer the $150,000 RMAP fund, and businesses can use the funding for commercial rent or mortgage payments during May and June 2020.
“Our goal with this program is to help stabilize our small businesses that are facing financial challenges during the COVID-19 pandemic,” SBDO Development Director John Hart said. “We will make every effort to benefit as many of our local businesses as we can with this fund.”
Priority will be given to businesses with 10 or fewer employees in targeted commercial areas along Beckley Road, Columbia Avenue, Capital Avenue SW, and West Michigan Avenue, in the Urbandale area.
A map of these areas can be viewed online at this link. Citizens should note that home-based businesses are not eligible for this loan.
The following guidelines must also be considered:
- Special circumstances may allow for businesses outside of a district to qualify. Please contact smallbusinessinfo@battlecreekmi.gov to inquire.
- Have commercial rent or mortgage payment to a second-party landlord or mortgage holder.
- Priority will be given to business with 10 or fewer employees.
- Must be a for-profit business.
Businesses who qualify can receive a maximum of $2,000 per month during May, June, and July of 2020, not to exceed their rent/mortgage obligation.
Officials add that qualifying small business owners can use this short-term relief in conjunction with other local, state, and federal programs. A list of resources available to small businesses can be viewed online at www.battlecreekcovid-19.com.
The application is online at this link and the deadline to apply is 5 p.m. Monday, May 11.
Matt Hart can be contacted to answer questions at 269-924-9681. Retention and Development Manager Valerie Byrnes can also be contacted at 616-638-5521 or smallbusinessinfo@battlecreekmi.gov.
