Columbia offers businesses another chance to apply for micro business loan

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Columbia offers businesses another chance to apply for micro business loan

COLUMBIA – The City of Columbia Housing Programs Division announced Tuesday that it will reopen the application for its recovery loan program. 

Businesses that missed the first round of applications can apply for the forgivable loan on Tuesday, Oct. 13. 

The forgivable loan is set to aid small local businesses with five or fewer employees that need help funding unexpected costs brought by COVID-19.

D’MMI Stylez Beauty Bar is one of the businesses that was approved during the first round of applications. However, the application process almost kept the business from being able to benefit from it. 

“The application process was a little long. It was kind of unusual for me. I’ve never done an application like that before,” D’MMI Stylez Beauty Bar Owner Sarah Brown said. “It was a one time day it was from [8 a.m.] to [5 p.m.], the application needed to be in, in that time frame.”

One of the reasons for reopening the application is to ensure that businesses will have another opportunity, in case they were not able to get their applications in the first round.

“Some people were struggling to get all of their information together,” Columbia Housing Programs Manager Randy Cole said. “A lot of people have a lot going on in their lives, so we are providing an additional opportunity just to make sure we provide enough time for those to get their information together.”

In the application, businesses had to submit various forms. Many of the forms had to be obtained from different places.

“We had to submit papers like insurance for the salon, license for the salon, the number of employees we have working here,” Brown said. “We had to go back as far as fictitious name statements, different things like that, that lets them know that we’ve had a business and how many years we’ve had it.”

The businesses that have already been approved for the grant cannot reapply. The new application is aimed at helping those who have not been able to receive aid. 

“We’re really trying to get additional businesses to the table, as well as some of those that needed more time to get their materials together to make sure we’re giving everybody an adequate opportunity,” Cole said.

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Editor is WebTech Group (WTG). WTG is a web hosting, design, SEO, press release distribution company and news agency located in St. Louis, Missouri. Site is owned and operate multiple news sites in the region. Our objective with STLNewsMissouri.com is to offer readers a one-stop news site for Missouri news. We aggregate news from news media across the state. We do not aggregate news from all sources. We pick from those that offer RSS feeds and pick the best with eliminating those that might produce the same news stories, written differently.
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