Gary awards pandemic relief loans to 91 local small businesses
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Gary officials are awarding pandemic relief funds to nearly 100 local small business.
The city late last year directed $2.5 million in American Rescue Plan Act funds toward helping small businesses overcome the negative effects of the COVID-19 pandemic.
A total 91 Gary businesses will receive grants ranging from $5,000 to $60,000.
Mayor Jerome Prince said in a news release than the city received more than 380 applications for funding. A seven-member committee of city, business and higher education officials reviewed applications, giving preference to those located within Gary’s traditional business districts.
“The city of Gary is supportive of all businesses, which made the selection process very difficult,” Prince said. “The committee, with its selections, sought to both encourage building improvements and renovations as well as to stimulate our city’s economy on a small-scale level.”
Prince said he hopes for a future round of funding.
In addition to the small business grants, individuals starting up a business were encouraged to apply for support. City officials estimate 140 startups are eligible for grant funding.
A partnership with Indiana University Northwest will offer courses to prospective business owners.