Knox County and Vincennes look to help small businesses during pandemic

Knox County and Vincennes look to help small businesses during pandemic

As federal and state governments work to help small businesses...some local leaders are taking matters into their own hands.

Two weeks ago... the city of vincennes passed an emergency micro loan fund to help.

News 10 bureau chief gary brian tells us how that fund is going and what county leaders are also doing to help.

Pk} gar} "just two weeks ago the city of vincennes set up a loan program to help small businesses affected by covid-19.

So far the need for that program, the mayor says, has been small."

Local businesses in vincennes can take up to five thousand dollars from the micro loan fund.

Mayor joe yochum says only a couple of organizations have requested funding.

Yochum says the city plans to address those requests next week.

For county businesses knox county commisioners have applied for funding from the indiana office of community and rural affairs.

This grant funding is typically used to develop roads and other community projects.

The county has requested 250 thousand dollars.

If awarded businesses with 25 or less employees could get up to five thousand dollars.

Businesses of more then 25 employees could be eligible for a 10 thousand dollar grant.

"it's a tiered approach just to help retain jobs.

And if we get the maximum amount that we've requested it could help upwards of three hundred employee retention of the low to moderate income jobs."

"streeter says they expect to hear back on whether they've received the funding or not in the coming weeks.

Working from home in vincennes, gary brian news 10."

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