This program is an economic development activity funded through the City of Green Bay’s Community Development Block Grant (CDBG) annual allocation from the US Department of Housing and Urban Development (HUD). The City of Green Bay Small Business Pandemic Relief Loan Program is a financing product designed to benefit City of Green Bay small business owner-operators employing low or moderate income households.
Under federal regulations, use of CDBG funds for economic development activities must meet the national objective of benefit to low/moderate (“low/mod”) income persons under the Job Creation/Retention or Limited Clientele definition. As such, all applicants must meet this national objective and at least 51% of all FTE jobs retained or created must be held by a low/mod income person.
City staff will verify that employees listed meet HUD’s low/mod income definition by requiring submission of a self-certification of household income from each employee whose position is being ‘created or retained’, as outlined in the program application and guidelines.
The City of Green Bay will provide 1 year deferred interest loans, up to $10,000, for eligible small businesses that experienced significant financial hardship as a result of the COVID-19 pandemic. The program has a 36 month and 48 month term, including 12 months of deferred payments. The City is attempting to make the loan application as simple and as quick as possible. Here are the main materials, information and forms to guide you through the process: