COVID-19 Small Business, Homeowner, & Rental Assistance Program
May 14, 2020
Mayor Mayo announced the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, by President Donald Trump. The CARES Act Community Development Fund is based on the Community Development Block Grant (CDBG) formula for Entitlement Cities. The City of Monroe is an entitlement city, and we have been awarded $436,363 in CDBG funds to help address local needs. Mayor Jamie Mayo is pleased to announce the launch of the City of Monroe COVID-19 Small Business Enterprise Loan/Grant, Rental Assistance, and Mortgage Payment Assistance Programs. PROGRAM SUMMARY 1. Emergency Assistance is available for Renters affected by COVID-19. If you are unemployed or experience economic hardship due to the Stay-at-Home order or the economic downturn due to the pandemic, you may be eligible for housing-related assistance. 2. Emergency Assistance is available for homeowners affected by COVID-19. If you are a homeowner experiencing economic hardship due to the pandemic and ne assistance with mortgage payments, you may be eligible for assistance.
3. Small Business Enterprise Loans/Grants are available to provide businesses that employ low to moderately low-income employees up to $15K for operational costs.
HOW TO APPLY FOR ASSISTANCE? The Monroe City Council approved the local Action Plan submitted by the Mayor’s administration, making funds available for the listed programs. Small businesses, homeowners, and renters interested in applying for the funding from one of the programs, can complete a pre-application screening form. Please go to the direct link https://monroela.us/city-monroe-covid-19-small-business-and-housing-program OR via our City of Monroe COVID-19 webpage http://www.monroela.us/coronavirus and click on the appropriate program tab located in the header at the very top of the page. For more information, call 318-329-2256.
Small Business Enterprise Loans - for businesses that employ low to moderately low–income employees. Small Businesses can apply for up to $15,000.00 as a forgivable loan. Allowable expenses include payroll & operational costs. Mortgage and Rental Assistance –homeowners or renters can apply to receive assistance with mortgage, rent, or utility payments. Support cannot exceed three (3) months. Funding availability will be determined on a case by case basis. Rental Rehabilitation - landlords can apply for up to $25,000 to address code violations, lead-based paint issues, accommodate persons with disabilities, and other housing-related problems that have deteriorated the property. Non-Profit Agency Assistance for COVID19 related needs - such as PPE equipment or providing services to prevent the spread of COVID.