Downtown Chillicothe offers loan program to businesses

CHILLICOTHE — Downtown Chillicothe announced the beginning of the Micro-Advantage Loan Program. Here are the answers to some questions you may have about this program:

What is it?

The program was created to help stimulate growth in existing Downtown businesses by providing low-interest micro-loans. The loan can be used for technology upgrades, equipment, leasehold improvements or capital investments.

Who is eligible?

Applicants must be 18 years or older and operated a business within the boundaries of Downtown Chillicothe for at least one year to be eligible for this program.

How is it funded?

The program is funded through Downtown Chillicothe and its various fundraisers as well as its partnership with Build Chillicothe, Inc.

How much can I borrow?

Loans are available for $2,500 and must be paid back within the year. The organization will be giving out three of these loans at a time.

How do I apply?

A free downloadable application will be available on the Downtown Chillicothe website, this can then be sent, along with other needed information, to the organization by email.

How do I fund out more?

For more information visit the Downtown Chillicothe website or contact them with your questions by email at info@downtownchillicothe.com.

This article originally appeared on Chillicothe Gazette: Learn more about the new program through Downtown Chillicothe