New $5M relief loan fund offers ‘lifeline’ to area small businesses hit by COVID-19 crisis

A group of Kansas City-area businesses and civic organizations announced a $5 million fund to get sorely needed funds to small businesses hit hard by the coronavirus crisis.
The KC COVID-19 Small Business Relief Loan Fund will offer loans of as much as $100,000 to area companies with fewer than 20 full-time-equivalent employees and less than $2.5 million in revenue. The three-year loans will carry no interest and payments will be deferred for the first six to 12 months, according to a Tuesday announcement.
(Read more: Kansas City Business Journal)