Title
Small Business Recovery Proposal
Brief Description: Council will consider a COVID-19 Small Business Relief Loan Program.
Council has been discussing the plausibility of offering small businesses in Hudson a deferred loan program to assist in re-opening. Based on Council input at last week’s workshop, the attached proposal has been modified and is ready for further Council review and consideration.
Body
Legislative History
None.
Purpose & Explanation
The intent of a deferred loan program for small businesses is to assist them with resources that will aid in the businesses ability to re-open and recover from the recent closures due to the coronavirus.
Timing Considerations
None.
Fiscal Impact
Currently Budgeted (Account #, $)
X Supplemental Appropriation Required - to be determined by Council
Appropriation Not Required.
Recommendation
Suggested Action
Staff requests Council direction regarding a COVID-19 Small Business Relief Loan Program.
Submitted by,
Jane Howington, City Manager