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People Inc. offering SBA microloans to local small businesses

7 May 2020 Covid19 Luray/Page County Shenandoah County Front Royal/Warren County Frederick County Clarke County News

People Incorporated, a Virginia-based nonprofit, is now offering forgivable Small Business Administration (SBA) microloans to businesses affected by the COVID-19 pandemic.

The SBA will make all payments – including principal, interest and fees – for six months following the closing date on any loan closed between March 27, 2020 and September 27, 2020.

Small businesses within Clarke, Frederick, Page, Shenandoah and Warren county are eligible to apply for the loans that may be offered for amounts starting at $500 up to $50,000.

“This is an incredible opportunity for small businesses affected by the [COVID-19] crisis,” Shane Simmons, People Inc. Director of Community Economic Development, said in a news release. “We hope that these loans will have a positive economic impact on small businesses and communities who may be struggling right now.”

Interested applicants can call the People Inc. Business Lending number at 833-437-0115 or visit peopleinc.net for more information.

For more news from across the Shenandoah Valley, click here.

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