GOOSE CREEK, S.C. (WCBD) – Small businesses in the City of Goose Creek that have been impacted by the coronavirus pandemic can now apply for an all-new ‘Kickstart the Creek’ loan program.
Leaders say the ongoing pandemic has taken a toll on local businesses and the city wants to help through its new initiative.
Goose Creek is partnering with a community development financial institution, Charleston LDC, to offer working capital local services to small businesses that qualify.
“Our small businesses are the lifeblood of our City, and we’re here for them,” said City of Goose Creek Economic Development Director Matt Brady. “This initiative can get needed funds directly to those businesses.”
Loan amounts will range from $2,500 to $25,000, and borrowers must be located within city limits. The interest rate for that loan will be no more than 4%, and of that 4%, 1% will go back into the program.
We had these funds and we really couldn’t think of a better use for that. This will be a revolving fund and so we just think it makes good sense to help our folks outFrank Johnson, City of Goose Creek
An applicant must qualify with both the City and LDC through a typical loan examination process and be able to demonstrate (using financial records) COVID-19 related impacts to their business operations incurred beginning March 1, 2020, or later.
Small businesses in need of the help can access a secure online application by visiting the following link: https://www.cityofgoosecreek.com/economic-development-and-starting-business/kickstart-creek