Small businesses receive forgivable loans from the City of Lake Charles
Small businesses receive forgivable loans from the City of Lake Charles By Rania Kaur | February 11, 2021 at 7:27 PM CST - Updated February 11 at 7:27 PM
LAKE CHARLES, La. (KPLC) - With a pandemic and two hurricanes, the last year hasnât been easy for local small businesses, thatâs why the City of Lake Charles created the Small Business Stabilization Program.
Born from the CARES Act, Mayor Nic Hunter says the city used the funding to create the Small Business Stabilization Fund.
âWe designed this Small Business Stabilization Program - itâs actually a forgivable loan. And we used the federal guidelines to make sure that weâre following all of the rules, but this was made available to local small businesses inside the City of Lake Charles.â