COVID-19 90-Day Stabilization Fund for Small Businesses Program
Stabilization Fund for Small Businesses Program
The City of Chattanooga’s Office of Economic Development – under the guidance and direction of Mayor Andy Berke – is launching a 90-Day Small Business Stabilization Fund to provide immediate support to small businesses impacted by the economic downturn caused by the spread of COVID-19 (Coronavirus). This combination of grants and loans will provide much needed working capital for businesses.
While the Chattanooga community flattens the curve on the virus, small business owners continue to innovate, adapt, and survive. This fund has been designed using feedback and input from the small business owners and stakeholders themselves. The City of Chattanooga is committed to providing immediate and flexible support in this unprecedented environment while maintaining the highest level of stewardship of the resources committed to this effort.
These funds will also provide “a bridge” of assistance until small businesses can apply for and receive funding made available through the U.S. Small Business Administration’s Economic Injury Disaster Loan Program, Paycheck Protection Program, and any other federal/state programs that become available.