PANTEGO (1080 KRLD) - Another North Texas community is making financial help available to small businesses.
Earlier this week, the Town of Pantego launched its Small Business Recovery Program.
"The amount that's been approved for the program is $150,000," says Town Manager Joe Ashton, "and that is available up to $2500 increments to each business."
The loans are forgivable, and all a business needs to do to have the loan forgiven is to simply stay in business.
"If they're in business within six months, this loan is forgivable," says Ashton. "If they were to close or fail within six months of the award, that's when it would be required to be repaid over a period of time."
As the name of the program implies, the loans are geared towards small businesses.
"Preference will be given to businesses with 10 or fewer employees," Ashton says.
Applications are being accepted through July 10th.