PCED Board Approves Disaster Relief Funds for Businesses Impacted by COVID-19

March 20, 2020

A disaster relief fund has been established to assist existing Phillips County business owners affected by disaster or crisis. This funding program can provide some assistance to help with associated financial burden. 

How it works:

  • Unsecured loans are offered through PCED, capped at a maximum of $5,000 per business.
  • All loans carry zero percent (0%) interest for the duration of the note.
  • All loans hold a term of 18 months. Monthly repayments are not required for the first 6 months of the term.
  • Funds must be used for operational relief. Funds may not be used to purchase real estate, land or business equipment, fund property renovation, or pay for any costs that are not associated with the regular and ongoing operations of the business.  
  • Loans are made on a first come-first serve basis from the loan fund which is set aside for this program by the Phillips County Economic Development Board.  

To apply for a loan through the Disaster Relief Funding Program, click here: Disaster Relief Funding Application PDF

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