City of Garden City implements Emergency Fund to help local business

PUBLIC NOTICE OF FUND AVAILABILITY

Local small businesses are currently feeling the unprecedented pressures from the economic and health impacts of COVID-19. In order to help alleviate some of these pressures, the City of Garden City has financial assistance (as available) for working capital through recaptured Community Development Block Grant (CDBG) funds under the Economic Development Category. Funds will be in the form of a short-term loan and must be used by existing businesses for working capital needed to retain jobs. Working capital is defined as salaries/wages, inventory purchase, utilities, rent, insurance payments, etc. Retained jobs must meet the 51% low-to-moderate income requirement of the CDBG/RLF program.

Applications may be found at: https://www.garden-city.org/government/covid-19-updates. All applications will be submitted to the governing body for approval.