Business loan program closes out

$250,000 distributed to more than 40 small businesses

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The City of Crawfordsville gave out more than $250,000 in short-term loans to local small businesses reeling from the coronavirus, Mayor Todd Barton announced Friday.

Over 40 retailers, restaurants, salons, dentist’s offices and other businesses received aid through the COVID-19 Small Business Loan Program before the program was closed out, Barton said in a press release.

Business owners applied for the one-year, interest-free loans to cover payroll, rent and other essential operating expenses.

Loans were issued to the following businesses: 1832 Brew Espresso Bar; A Second City Café; Affordable Auto Sales; Affordable Auto Service; Aki Lesvoy Takeria; Allen’s Country Kitchen & Catering; Backstep Brewing Company; Beauty Mark; Blondies Hair Salon; Cabbages & Kings Antique Mall; China Inn Restaurant; CRAS Development; Craw Con; Crawfordsville CCB; Creek Jewelers; Dance By Deborah; Discovery Preschool; Francis and Mount; Guardian Technology Group; Heathcliff; In His Time Books & Gifts; Jarocho Mini Market; Little Mexico; Mama Fazio’s Pizza; Maxine’s On Green; Menard Flood Pro; Mi Corcel; Prime Body & Paint; Reclaimed By Grace; Rin Tin Inn; Rock Hard USA; Simpler Times; Sugar Creek Eyecare; The Barefoot Burger; The Forum Restaurant; The Kids’ Dentist; The Paper of Montgomery County; Top Line Athletics; Turn It Up Sound Productions; Valentino’s Italian Cuisine; VIP Nails; and Walker Dentistry.

Recipients were selected based on a set of criteria, including whether the pandemic forced a partial or complete shutdown of the business. Funding came from the city’s Jobs Creation and Investment Fund.

The city took in 78 requests for applications, and 48 businesses signed up for a loan, according to a breakdown provided by the city.

Two applications were not approved for funding, and four other businesses decided not to accept the money after receiving approval for a grant.

The maximum amount a business could receive was $7,500. The average loan amount was $5,957 per business.

Next year, the Board of Public Works and Safety will review each of the loans to determine the status of repayment or forgiveness, Barton said.

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