‘Sustain State College’ Program Launches To Support Residents & Businesses
The Borough of State College launched a new “Sustain State College” program Wednesday to assist and support community members and businesses amid the coronavirus pandemic.
Through the multifaceted program, the borough will provide programs and tools on its website to assist residents, businesses, and owners.
The municipality is offering individual micro-loans of up to $10,000 at 0% interest to local businesses through the State College Small Business Relief Loan Program. Loans will have a three-year term, but businesses won’t need to begin principal payments until September 2021.
“We as a community deeply value the services and experiences our small businesses provide to both locals and students and the Borough hopes to keep as many businesses afloat as possible,” the program’s website says.
The borough is also relaxing regulations for the use of outdoor privately-owned space for commercial purposes, including restaurants, through the COVID-19 Temporary Permit for Outdoor Commerce.
Additionally, the borough wants community members to stay safe and housed and are offering financial assistance through the Rent, Mortgage, or Utility Bill Assistance Program. Through it, renters who meet qualifications and are selected could receive up to $1,200 per month for three straight months to help cover rent and utility costs. Homeowners could receive up to $2,000 per month for three consecutive months.
Approximately 20 applicants will be selected weekly until funds run out.
The Sustain State College website will be updated as new programs and resources are developed.
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