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Friday, December 4, 2020

A Little More Help Available for Area Businesses

Loans for short-term immediate operating expenses are available to small businesses in our region through the Northern Kentucky Area Development District.

by Robin Gee

The Northern Kentucky Area Development District (NKADD) is offering a loan program for small businesses in Northern Kentucky that have been impacted by COVID-19.

The loans come from a $500,000 grant from the U.S. Economic Development Administration under the CARES Act to create a Revolving Loan Fund. The fund can be used to lend money to cover operating expenses in the short term such as payroll, rent, utilities, supplies or inventory and range from $5,000 to $50,000.

The loans must be paid back within five years with an optional six-month deferral from the date of closure. Interest for these loans is three percent. Interested businesses in the following counties can apply for the loan: Campbell, Carroll, Boone, Kenton, Gallatin, Grant, Owen and Pendleton counties.

For more info contact and to find out if your business is eligible contact Dominque Delucia at NKADD or apply at the NKADD website.

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