If you own a business in JP and have losses because of the punishing series of storms we endured, there’s help. A state program is offering loans of $5,000 to $10,000 to help local businesses “regain financial stability and recover from lost storm revenue.”
Brad Brown of Blue Frog Bakery touted the program at Wednesday’s meeting of the JP Business & Professional Association. He said his Green Street business lost $12,000 in February from weather-related closings.
The program, which could make as much as $1 million in loans available, would run through May, according to a press release.
The three-year, 5 percent loans are interest-only the first six months.
To learn more about the loan program, business owners can visit this page of Massachusetts Growth Capital Corp. web site.
JP applications go through Alison Moronta at the JP Neighborhood Development Corp. She can be reached at 617-522-2424, ext. 226 or firstname.lastname@example.org.
Moronta said the loans can help with a wide variety of troubles, including cash flow. About nine business owners have contacted her so far about the program, she said. It’s worth noting that the Neighborhood Development Corporation also has other programs to help small business if this one isn’t right for your business’ situation.
Wednesday’s meeting of the JP Business & Professional Association was held at Vee Vee.
Brown said there’s a simple way residents can also help out JP businesses struggling to recover: buy something.
“Don’t go to Dunkies,” Brown said. “Buy your coffee somewhere local. Don’t go on Amazon. Buy your books at Papercuts.”
[Editor’s note: We’ve updated the description of the loans and added information from Moronta.]