Most Iowa towns are looking at how the pandemic affected their businesses and asking themselves: what can we do to help? Osage’s Mayor Steve Cooper says his city is attempting to refund their businesses at 0% interest.
A revamped ‘Main Street Loan Program’ will allow the towns stores to receive up to $10,000 from the city to infuse into their businesses – with a 5-year payback window at 0% interest.
Originally, the loan program could only be redeemed to help modernize a business’s storefront. This was to create constant improvements to the look of the city. Now, the loan can specifically be used to help the town through the expensive pandemic.
Cooper says the council brought up the proposal during the last meeting and hopes to make it work. He says they are very concerned about keeping these businesses afloat.
Though, after talking to many of the owners, Cooper realizes a lot of businesses did a lot better than some predicted.
Cooper acknowledges that safety is Osage’s first priority – with the citizen’s livelihoods at a close second.