Pandemic recovery loans available in Porter County

The Northwestern Indiana Regional Planning Commission’s (NWIRPC) Development District announced the official launch of the Recover NWI Loan Program to help businesses and organizations with pandemic recovery.

Ty Warner, executive director, stated in a news release that Northwest Indiana businesses impacted by the economic downturn during the pandemic can now access federal loan funds made available through the US EDA CARES Act. Administrators for businesses and organizations located in Porter, Lake or La Porte counties can apply for loans of $10,000 to $100,000 through the Recover NWI loan program, managed by NIRPC. Applications are found at www.nirpc.org/recovernwi .

Recover NWI loans are available to Northwest Indiana businesses and organizations of all sizes to prevent, prepare for, and respond to the economic injury resulting from the coronavirus pandemic. The loans intended to provide flexibility for businesses for working capital, job retention, marketing, staffing, and other functions. Construction projects are not eligible.

To be eligible, a business or organization must have been impacted by the pandemic and been in operation before January 1, 2020. Loans can be made between $10,000 and $100,000, repayable at a rate of 2.5% until July, 2022.

Inquiries should be directed to Denarie Kane, Economic Development District Coordinator (219) 985-3368.

Leave a Reply

Your email address will not be published. Required fields are marked *

You have 3 more free access views left