La Quinta establishes a $1.5 million relief program for small business loans
La Quinta is offering emergency loans to the city’s small businesses in need of emergency relief due to the coronavirus pandemic.
The city announced that small business owners can start applying for the COVID-19 Small Business Emergency Economic Relief Program today. The deadline to submit applications is Thursday, April 30 at 5 p.m.
Qualified businesses with 25 or fewer full-time equivalent employees would be eligible to receive 0% interest loans ranging between $5,000 to $20,000.
The program also offers up to $500,000 exclusively to La Quinta restaurants that are currently open for pickup and/or delivery orders.
Loan applications are administered through the City’s Finance Department. The applications will be reviewed and approved by an Ad Hoc committee of two Councilmembers, two Finance Advisory Commissioners and two city staff members (Financial Services Analyst and Assistant to City Manager).
La Quinta Mayor Linda Evans says the city hopes to distribute check by early May.
Visit www.laquintaca.gov/COVID19BUSINESSLOAN to apply.
