Andrew P. Flanagan, Town Manager
36 Bartlet St.
Andover, MA 01810
Sunday, Sept. 30, 2018
Contact: John Guilfoil
Email: [email protected]
Andover Reminds Community that Small Business Loan Program Opens Tomorrow
ANDOVER — Town Manager Andrew P. Flanagan would like to remind business owners that the state’s small business loan program opens tomorrow, Oct. 1.
The $1 million emergency loan program will offer emergency loans to eligible businesses with no payments and no interest for the first six months. For businesses that extend beyond a six month period, market rates will apply and loans will be able to be extended or restructured for multi-year term loans.
Gov. Charlie Baker, Lt. Gov. Karyn Polito, Secretary of Housing and Economic Development Jay Ash, Lawrence Mayor Daniel Rivera, North Andover Town Manager Andrew Mayor and Andover Town Manager Flanagan last week announced the fund for businesses in Andover, North Andover and Lawrence that were impacted by the gas emergency.
Andover’s downtown and several other business districts are in the affected area.
“Our small businesses are an integral part of our community and we hope this loan program will serve as a way for them to obtain the resources needed to reopen,” Town Manager Flanagan said. “We encourage all affected business owners to take advantage of this fund and consider applying tomorrow.”
The program will have an expedited application and approval process, with the goal of getting all applications processed within 24 and 48 hours.
For details on how to sign up, visit wearelawrence.org/lawrencegasresponsebusiness.