The Lake County Commissioners have secured $200,000 of round-2 funds to help support our county's small businesses impacted by the COVID-19 crisis. We will be using a third party administrator to approve and process grants up to $5,000 and zero-interest 5-year loans up to $20,000 to eligible organizations. These loans are non-amortizing, which means that the loan balance is due at the end of the loan term in a balloon payment. There will be no penalty for pre-paying the loan, and there are no closing costs. In fact, part of the loan principal will be forgiven based on when it is repaid:
You can view additional details by downloading our Program Overview PDF.
All applications will be reviewed on a first come, first served basis. Once you fill out an inquiry form, our underwriters will contact you to discuss your application to these programs. If your application is complete and approved, we will send your grant agreement requiring only your electronic signature. Loan documents will need to be completed at the County office.
Please fill out the company inquiry questions below, click "SUBMIT." We will be working on these applications on a rolling basis. We will be completely transparent and let you know where your application stands throughout the underwriting, documentation and funding processes. We will contact you when funds are available for the County to make additional disaster relief loans in the order your inquiry was received. You are always welcome to call us to see where you are in queue.
Sincerely,
John, Ron and Jerry