• Tom Britt

Burlington Runs Out Of Covid Funds For Small Businesses

In Burlington, city officials say they have used up all the tax money sent down from Congress, to help out local businesses. They say the so-called “micro-loan” program was popular, but bear in mind it was only 156 thousand dollars and that went pretty fast to 22 local businesses, helping them to weather the government forced shut down of the economy. The loans went to companies with fewer than 5 employees, and those employees needed to be low to moderate income. Burlington’s Economic Development folks say most of those who applied, and received money, were women owned or minority owned. It’s not clear if city officials will be able to replenish that fund so it can continue.

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