Business Assistance Loan Program
- Completed the issuance of a small business loan from the City’s Business Revolving Loan Fund in the amount of $100,000. The loan proceeds originated from program income, consisting of principal and interest payments that the City has received from the issuance of loans to other local businesses.
- Coordinated the marketing to local businesses of a Small Cities Community Development Block Grant (CDBG) from the State Housing & Community Development Department in the amount of $400,000 (#12-CDBG-8381). The grant funding is available to local businesses in the form of a low-interest loan to facilitate business development and job growth.
- Completed a market analysis of its business environment in support of its successful Business Assistance Loan Program. The analysis evaluated the market for small business lending in Gonzales and provided a projection of likely loan activity under the proposed program.
Updated its CDBG Program Income Guidelines to be consistent with a change in state policy regarding the use of Program Income funds.