The city of Montgomery and Montgomery County have joined forces to utilize funding from the American Rescue Plan to support small businesses. Mayor Steven Reed emphasized the importance of small businesses in today’s economic climate. As part of this initiative, a portion of the funding will be allocated towards the creation of the Small Business One Stop Shop and the Access to Capital loan program.
The Small Business One Stop Shop aims to provide training for individuals looking to start, manage, and expand their small businesses. Gaitway Solutions will oversee the management of this program. Additionally, the Access to Capital loan program, a $2.5 million low-interest, revolving small business loan fund, will be managed by HOPE Credit Union. Small businesses will have the opportunity to apply for loans of up to $250,000.
Anna Buckalew, president and CEO of the Montgomery Area Chamber of Commerce, expressed her readiness to implement a comprehensive system to support small businesses in the community like never before. This initiative is a significant step towards bolstering the resilience of small businesses and fostering economic growth in the region.
In other news, recent Olympic trials held at Montgomery Whitewater generated a substantial $1.5 million economic impact. For more information on this topic, reach out to Alex Gladden at agladden@gannett.com or on Twitter @gladlyalex or contact him directly at [email protected](mailto:agladden@gannett.com) .
