Recently, Commissioner Gannon supported the Board of Commissioner’s vote to approve the DeKalb Better Business Loan Program, a partnership with local banks to provide financial relief to small DeKalb County businesses impacted by the COVID-19 pandemic.

The program will be funded using $15 million from the county’s allotment of federal Coronavirus Aid, Relief and Economic Security (CARES) Act funding.

Citizens Trust Bank has been selected to administer and service $10 million of the loan proceeds. Small business owners can apply online for up to $40,000 in business loans beginning Aug. 27, 2020, through Sept. 7, 2020.

Approved loan applicants may use the proceeds for any pre-approved combination of the following eligible expenses:

  • Payroll (gross federal wages)
  • State unemployment taxes and local taxes
  • Employee benefits
  • Business mortgage interest
  • Business property rent payments
  • Commercial property utilities
  • Interest on other business debts

DeKalb’s Better Business Loan program includes a technical support component that will help sustain and support small business ownership in the county. Participants will have access to key DeKalb business organizations, community improvement districts and advocacy organizations including Decide DeKalb and the DeKalb Chamber of Commerce. Additional benefits include business certifications and training for the loan forgiveness portion of the program.

More details about DeKalb’s Better Business Loan Program and webinar training can be found at the DeKalb County Better Business Loan portal at www.dekalbcountyga.gov/COVID19loan.