Program unveiled to help small businesses | Local News

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Back to Business Brunswick, a plan to tackle the costs of the COVID-19 pandemic, is now accepting applications for low-interest grants and loans for small businesses.

Mathew Hill, director of the Brunswick Downtown Development Authority, said his office would accept applications and be responsible for distributing funds within the development authority’s boundaries.

The Golden Isles Development Authority will be responsible for distributing funds to businesses within city limits that are outside the jurisdiction of the Downtown Development Authority.

The first loan program, called Capital Assistance and Relationship Lending, provides emergency micro-loans and a larger secured loan of up to $ 20,000 for new and existing businesses.

“The creation of this program stems from the lack of lending relationships that existed with businesses and financial institutions at the start of the pandemic,” according to the announcement. “Many small businesses have struggled to receive assistance, such as the paycheck protection program, because of these shortcomings.”

A key element of the program is to establish working and lending relationships between the city’s entrepreneurs and financial institutions.

The second program, Property Stabilization and Marketing, is designed to structurally stabilize buildings of cultural and / or historical significance and to rehabilitate the interior for actual use. Buildings such as those in the Norwich and Albany Street corridors may be eligible.

The main objective is to correct the ruin and decay of commercial buildings and to provide usable space for future entrepreneurs within these communities.

The Brunswick Relief Grant provides relief to small businesses that may have been affected by the pandemic. A matching grant of up to $ 15,000 will be awarded quarterly to qualified business owners. And an unmatched grant of $ 5,000 can be added for Workforce Development.

Business owners can use the funds for internships, hiring bonuses, raises, and continuing education courses. And companies that hire graduates from the College of Coastal Georgia, Coastal Pines Technical College, STAR Foundation, and Golden Isles College and Career Academy may receive additional funding.

Small businesses from anywhere in the city can call the Brunswick Downtown Development Authority at 265-4032 to apply for a loan or grant or for more information. Or go to the city website brunswickga.org and click on the Downtown Development Authority link.


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