EDC offers aid to businesses hit by pandemic


The San Benito Economic Development Corporation is offering loans and rent subsidies to local businesses negatively impacted by the current pandemic.

According to an EDC press release issued last Friday, the EDC is setting aside $100,000 to fund zero-interest loans to qualifying businesses.

Another program is setting aside $100,000 to fund rental assistance programs for local businesses.

Rebeca Castillo, EDC Executive Director said in the press release, “The EDC has been monitoring and evaluating the current situation and how to best assist the business community. This program is strategic where the EDC is ensuring that its dollars are being maximized and provided to those businesses that most need it.”

The EDC will begin accepting applications for the loans in mid-August after a 60-day public comment period. They will be accepting applications until December 31, 2020, or until funds are depleted.

For the rent subsidy program, the EDC will be accepting applications between June 15 and September 30. Applications will be considered by the EDC until September 31, 2020, or until funds are depleted.

Editor’s note: This article has been edited for length. To read the full story, click here or make sure to grab a copy of the June 12-18, 2020 issue of the NEWS.

Permanent link to this article: https://www.sbnewspaper.com/2020/06/11/edc-offers-aid-to-businesses-hit-by-pandemic/

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