Hutto Community Development Corporation launches Economic Recovery Loan Program for local small businesses

The Hutto Community Development Corporation has launched its Economic Recovery Loan Program in an effort to assist small businesses affected by the coronavirus pandemic. (Kelsey Thompson/Community Impact Newspaper)
The Hutto Community Development Corporation has launched its Economic Recovery Loan Program in an effort to assist small businesses affected by the coronavirus pandemic. (Kelsey Thompson/Community Impact Newspaper)

The Hutto Community Development Corporation has launched its Economic Recovery Loan Program in an effort to assist small businesses affected by the coronavirus pandemic. (Kelsey Thompson/Community Impact Newspaper)

The Hutto Community Development Corporation has launched its Economic Recovery Loan Program in an effort to assist small businesses affected by the coronavirus pandemic, as announced in a March 31 news release.

Those interested in the program's services are eligible for a loan of up to $25,000 at no interest, and payments will not be required during the first 90 days, per the release. The loan term lasts 24 months following its deferment period, according to the release.

“Business owners in Hutto didn’t choose to close their doors; they’re simply following instructions to help limit the spread of the coronavirus,” Hutto CDC Chair Steven Harris said in the release. “The Hutto Community Development Corporation board of directors will do all we can to aid our business community in this time of need.”

Eligible candidates include businesses within city limits that "demonstrate economic injury due to the coronavirus pandemic," per the release. Those in need of immediate assistance are encouraged to apply for the HCDC's loan program as well as for the U.S. Small Business Association's services.

“We recognize that every business in Hutto will be impacted by the pandemic,” Harris said, “and we’ve already witnessed neighbors working together to help one another. We are honored to serve this loving community.”


For more information on the program and instructions on how to apply, click here.