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City giving loans to its small businesses

Loans forgivable if businesses stay open for 12 months

The City of Polo has dispersed 11 loan checks to small businesses in town, totaling $37,500 in an attempt to combat COVID-19 losses. 

The loans become forgivable if the businesses stay open for 12 months after they reopen. The majority of the loans are for $2,500. A few are $5,000 for bars that have had to close completely. 

“Jeff’s Refs and Chesty P’s don’t have food they can sell,” City Clerk Sydney Bartelt said. “We wanted to help them as soon as possible. Any business in Polo can apply and we’re hoping to get more applications.”

The city has received 14 applications so far and plans to do another round of loans to anyone else that applies. The application deadline is May 29 and they will be voted on for approval at the June 1 city council meeting. 

The idea was brought up on May 4. The council held a special meeting to approve the first round of checks. The city wanted to move quickly to help the businesses. 

Among the businesses that have received loans already are Cimino’s Pizza, John’s Barber Shop, English Garden Spa, On the Move Fitness, The Polo Room and the Pinecricker Cafe.