Economic Assistance Loan Program

Purpose: 

In an effort to promote continued economic growth within the City of Green, The Green Community Improvement Corporation (CIC) has created the Economic Assistance Loan Program. This program is intended to assist for-profit companies currently located in Green. The program is designed to provide financial assistance in the form of loans to companies that are in need of assistance during the COVID-19 pandemic.

Register to Receive An Application

Loan applications will be sent to you via email with instructions on how to securely apply. Applications will be sent to those who register. Applications will be sent out the week of April 27. Register here.

Eligibility:

  • For profit companies located in the City of Green (Applicant must be the business owner/operator).
  • Project Priorities:
    • Primary (Businesses closed by State orders, however all will be considered)
      • Office
      • Manufacturing/Industrial Facilities
      • Restaurant and Food Service Companies
      • Service Oriented
      • Retail Oriented
  • Loans will be awarded based on the merits of the applications as determined by the CIC’s grant review process.
  • The CIC Board of Trustees reserves the right to accept, or reject, any loan application request.

Eligible Expenses:

  1. Machinery & equipment payments
  2. Payroll (if not receiving assistance from State/County/ or Federal Program
  3. Rent
  4. Utility Expenses
  5. Insurance Payments

Ineligible Expenses:

  1. New Purchases
  2. New Debt

Types of Assistance Available:

  • The CIC will provide funding for eligible expenses specifically listed in the Loan Agreement.
  • The CIC will provide a maximum of 3 years, 0 % (zero) percent loan up to $6,000 dollars. 
  • The terms and conditions of the Loan will be governed by a Loan Agreement. In the event of a default, or the company’s relocation outside of the City of Green within one year from loan disbursement, the Green CIC will require the full payment of all Loan award amounts as specified in the Loan Agreement. 

Funding Amounts:

  • The maximum amount of a Loan that may be recommended by the CIC for any project is $6,000 dollars. 
  • The CIC Board of Trustees retains the authority to accept, reject or modify the funding recommendation of the CIC Loan awards will be offered on the basis of the availability of funds, and the merits of the application. Loan awards must not exceed the current, unallocated balance in the CIC’s account at the time of the Loan award. 

Please note, the Green CIC Economic Loan Assistance Program is not an entitlement program and as such, funding is not guaranteed. The decision/actions of the Green CIC Board of Trustees on matters related to the approval and allocation of the Loans are final.