Montgomery County is in the process of applying for the Community Development Block Grant Micro Loan Program.
The program will allow for grant funding coming from the state that will fund businesses by funneling it through the county and out to businesses for two different categories of businesses.
The first would be businesses with employees from six to 50 employees. 51% of which must meet low to moderate income household standards.
Montgomery County Action Council Executive Director Trisha Purdon says the funding is coming from the Department of Housing and Urban Development.
The second program is a micro loan program similar to the one the county has already had for the past 20 years and that is for businesses with one to five employees and they have to meet the 51% LMI requirements.
Purdon says that the funding structure is a little bit different for the two programs.
Purdon noted that 29 businesses have reached out and are eligible for the grants and if all were funded under the CDBG guidelines than that would be $600,000.
The applications were approved and signed by the Montgomery County Commissioners during their meeting on Wednesday morning in Independence.
The Montgomery County Courthouse and the Tag Office are going to be closed for Memorial Day and the next scheduled Commission meeting will take place on June 1st.
