During this uncertain time, GROW is extending a loan to small businesses that were directly impacted by COVID-19 and are located in Muskegon County.
This loan was created to assist those businesses that are not already current borrowers with GROW by giving them access to capital that can assist with needs that have arisen due to closures or reduced hours/services because of the Executive Stay at Home Order.
These funds can be used as a way to keep businesses afloat, to assist with the re-opening process and development of new revenue streams.
- Small Businesses that have been open since September 1, 2019 in Muskegon County
- Small Businesses impacted by COVID-19; Relief and Re-Opening Efforts
- Small businesses with under 25 employees
- Loan Amounts up to $20,000
- Interest rate is 4%
- 6 to 24-month loan repayment terms
- No pre-payment penalty
- No application fee
- No origination fee
- Lien filing fees only ($100)
- No payment due for 90 days
After submission, our Business Development Officer will then schedule a virtual appointment with you to review your application information.
Please note, this loan is only for businesses located in Muskegon County. If you are in a different county or the qualifying criteria does not apply to you, please visit our resource page for information that may be of assistance to you. Our resource page also consists of another intake form for those who are either current borrowers or those who do not qualify for this loan.
Applications are currently closed. We will be re-opening applications at a later date.