Applications Now Open for Muskegon County Fast Forward Loan
(Grand Rapids, MI – April 12, 2021) Grand Rapids Opportunities for Women (GROW) in partnership with the Community Foundation for Muskegon County, has launched the Muskegon County Fast Forward Loan, a brand–new loan product designed to elevate businesses in Muskegon County to launch and grow in the aftermath of COVID-19.
“Muskegon County businesses are innovating to stay strong in a post-Covid world, and GROW’s focus on inclusive business growth – by supporting businesses run by women, people of color, and low-income individuals – will strengthen Muskegon County and create great opportunities for all,” Janelle Mair, Vice President of the Community Foundation for Muskegon County, commented.
This is the second lending collaboration between GROW and the Community Foundation for Muskegon County. Last year, the organizations partnered on the Muskegon County Recovery Loan, helping 28 businesses survive the fallout from the pandemic with the deployment of $224,257.
Ana Olson, owner of Los Amigos Mexican Bar and Grill (1848 E Sherman Blvd Suite M) received a Muskegon Country Recovery Loan in 2020. Like so many restaurants, Los Amigos was forced to shut its doors on March 16 due to the ever-worsening COVID-19 pandemic. She reduced her staff by 95% and began using popular delivery apps, which came with a high premium, to get food to customers. The loss of revenue was staggering, but the bills kept coming in. The only certainty Olson felt was that the road ahead was long.
She describes how the Muskegon County Recovery Loan helped her keep going despite the immense obstacles.
“The money gave us peace of mind,” Olson said. “We were at rock bottom, and when we got the loan, we were so grateful … Because of them, I was able to secure funding and improve my business in these uncertain times.”
The Muskegon County Fast Forward loan is available to start-ups and existing businesses. Terms are designed to help borrowers succeed and include low-interest rates starting at 4%, 6 to 24-month repayment terms, no pre-payment penalty. 90-day deferment of the first payment is available. $25 pre-qualification fee applies. Borrowers may apply at growbusiness.org/muskegon-county-fast-forward-loan.
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