The Hutto Community Development Corporation launched an Economic Recovery Loan Program To aid local businesses struggling during the COVID-19 pandemic shutdown.
Borrowers will be able to access up to $25,000 at no interest, with no payments due for 90 days and a 24-month loan term after the deferment period.
“Business owners in Hutto didn’t choose to close their doors, they’re simply following instructions to help limit the spread of the coronavirus,” said Steven Harris, Hutto CDC chair. “The Hutto Community Development Corporation board of directors will do all we can to aid our business community in this time of need.”
The program is available to small business located within the Hutto city limits who are able to demonstrate economic injury due to the coronavirus pandemic.
Harris encourages those who need immediate relief to apply through the Hutto CDC, as well as the Small Business Administration.
“SBA loans can take some time to reach businesses,” said Harris. “If you need a faster source of funds, please apply for the loans we’ve made available.”
Despite the ongoing hardships, Hutto residents have pulled together to help each other through the shelter in place.
“We recognize that every business in Hutto will be impacted by the pandemic,” said Harris, “and we’ve already witnessed neighbors working together to help one another. We are honored to serve this loving community.”
For more information or to apply, please visit the Hutto Community Development webpage at http://www.huttotx.gov/departments/economic_development.php, or contact Tim Jordan, Hutto Economic Development Corporation executive director at tim.jordan@huttotx.gov
