The Redding Chamber of Commerce is on the frontlines in terms of getting information to you, our local business community, regarding available resources and capital assistance during this abrupt slowdown as a result of COVID-19.
We have decided to dedicate the entirety of our weekly newsletter to this effort for the foreseeable future. I am grateful to our local partners who are walking alongside us in doing what is possible for local businesses in the midst of this unprecedented situation facing all of us from Wall Street to Main Street.U.S. Small Business Administration disaster loans update: Businesses adversely affected by the coronavirus now qualify for up to $2 million in disaster loans due to economic hardship. Interest rates are 3.75% for businesses, and 2.75% for nonprofits. Repayment can be deferred for up to twelve months. Terms may be extended to up to 30 years for repayment. Please CLICK HERE to apply. The County of Shasta is working to include our county on the eligibility list at this time by declaring a local state of emergency. We have been told that should occur at 5:00 p.m. today. Once that occurs, our businesses should be able to secure funds.
