Long Description
The Mayor and City Council of Cumberland have established a $106,000 loan program to support small businesses negatively impacted by the COVID-19 pandemic.
Loan proceeds may be used to pay the following business expenses: mortgage or rent payments for real estate, loan or lease payments for personal property, utilities, wages, and employee benefits, and other expenses arising in the ordinary course of the applicant’s business. All applicants will be required to timely submit a completed application and provide, upon request, satisfactory documentary proof of eligibility, financial need, and the applicant’s intended use of the loan proceeds. By accepting loan proceeds, an applicant agrees to submit to an audit and/or inspection of the applicant’s business records by employees or agents of the City of Cumberland and agrees to maintain records detailing the applicant’s eligibility, financial need and use of loan proceeds.
Address
15 S Centre St, Cumberland, MD 21502, USA