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The City of Moline has launched the COVID-19 Micro Business Forgivable Loan Program to assist small businesses that have been negatively impacted by COVID-19. A small business may have up to five employees, including the owner(s).
The COVID-19 Micro Business Forgivable Loan Program will be using approximately $250,000 of the City of Moline General Fund to be replenished by the American Rescue Plan Grant. The maximum forgivable loan is $10,000 per business. These funds will provide much needed capital to small businesses in an effort to remain open/operational and help stabilize Moline’s economy. Assistance will be provided to an eligible business in the form of a forgivable loan. The loan will be forgiven in three months as long as certain conditions are met. The “forgivable” feature of the loans rest on the ability of the borrower to remain operational and/or open for three months after receipt of the funds.
Completed applications will be reviewed by the selection committee. Applications will be accepted beginning April 7, 2022, through May 31, 2022, (5:00 pm central time).
Applicants may submit their application on the City’s website, www.moline.il.us; mail it to the below address; email their application to email@example.com or mail (postmarked by May 23, 2022) to:
City of Moline Community & Economic Development Department
COVID-19 Micro Business Forgivable Loan Program
619 16 Street Moline, IL 61265
Questions can be directed to KJ Whitley at (309) 524-2044 or firstname.lastname@example.org. Once closed, completed applications will be reviewed by the selection committee for accuracy and compliance with the program criteria. Limited funding is available. Awards will be given out until funding is exhausted.
For more information, please see attachments below.
Program Introduction, Guidelines, and Checklist
DUNS and SAMS Registration
Fillable W9 Form
Online Application Form