ANGOLA, IN - The City of Angola's Angola Investment Fund is a recipient of a Community Development Block Grant through the Office of Community and Rural Affairs.
With that money, the AIF has created a loan program to support local Angola businesses in the service and retail industry that have been impacted by COVID-19. If a business meets certain criteria, the loan may be forgiven.
This loan is for, for-profit businesses registered with the State of Indiana that employ under 50 people
in the service and retail industry. The majority of employees must qualify as low to moderate income, with an income cap for eligibility per employee at $37,200. The business must have been negatively impacted by the COVID-19 pandemic and must be located within the Angola, IN corporate limits.
This loan is up to $10,000, only 1% interest rate, forgiven if criteria are met, automatic six-month payment deferral period at the start of the loan and the priority is given to minority businesses.
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