The City of Aurora, in partnership with Invest Aurora and the Aurora Regional Chamber of Commerce, is launching a new loan program to assist small businesses.
Approved by the Aurora City Council on Tuesday night, the "Standing Together with Aurora Businesses Local Emergency" or (STABLE) Fund will offer $1.4 million in forgivable loans to small businesses in Aurora impacted by the COVID-19 crisis.
The STABLE Fund is supported by Community Development Block Grant funding to provide loans to help businesses support working capital like rent, payroll, and utilities, as well as other expenses related to maintaining or expanding operations.
Businesses eligible to apply for a loan must be located with the City of Aurora, must have 50 or less employees at the time of application and must have been in business at least three months.
Businesses with five or fewer employees, including business owners, are eligible for up to $15,000. Businesses with six to 50 employees are eligible for up to $25,000.
You can view more about the application process, here: