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City of Lake Charles announces new round of funding for Small Business Stabilization Fund

City of Lake Charles
City of Lake Charles(City of Lake Charles)
Published: Mar. 15, 2021 at 9:20 PM CDT
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LAKE CHARLES, La. (KPLC) - Lake Charles officials have announced a second round of funding for the City of Lake Charles Small Business Stabilization Fund.

The application process will open on Monday, March 22, and run through Thursday, April 1, 2021.

The Hunter administration announced the first round of this initiative in 2020, prior to Hurricanes Laura and Delta, as a way to support local small businesses negatively affected by COVID-19.

Forgivable loans, ranging up to $5,000, will be offered through the program.

“When we originally announced this program last summer, we were proud to have a program making a direct, positive impact for local, small businesses that have been so heavily impacted COVID-19,” Mayor Nic Hunter said. “This program became even more critical following Hurricanes Laura and Delta. Small businesses are vital for the survival of our neighborhoods and, like so many, were dealt several devastating blows in 2020. We are committed to being a part of helping get them back on their feet because when you help save a small business, you don’t only help save that business owner; you help save all of the employees and their families connected to that business.”

The sign-up form will be available on the fifth floor of City Hall located at 326 Pujo St. Monday through Friday from 9 a.m. to 4 p.m. and on the City’s homepage at www.cityoflakecharles.com. It must be completed and submitted by the April 1 deadline.

Only businesses located in the corporate limits of Lake Charles will be eligible, and they must have a “brick and mortar” location dependent on foot traffic for business. Business owners who complete the sign-up form will be contacted by City personnel to arrange a pre-screening interview.

Applicants will need to provide financial information. Eligibility determination will be based off income requirements established by federal guidelines.

The first round of disbursements were completed in February 2021. Through this fund, 24 locally-owned small businesses were provided with forgivable loans of $5,000 each.

For more information, call the City’s Office of Community Development at (337) 491-1440.

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