The City of Bloomington announced Wednesday it released money from the city’s Rapid Response Fund to seven businesses negatively affected by the COVID-19 pandemic.
The businesses receiving the loans are Nick’s English Hut, the Back Door, A.E.A Designs and Apparel, the Chocolate Moose, B-Town Diner, the Atlas Ballroom and the Ritz Hair Studio, according to an email sent from Bloomington spokesperson Yael Ksander. The loans total over $240,000. Nick’s English Hut, the Back Door and the Atlas Ballroom each received the maximum loans of $50,000.
Businesses can apply for the loans if they are located within the city of Bloomington and support the tourism industry. Nonprofits who serve Bloomington residents are also eligible, according to the email. $2 million was diverted from the Food and Beverage Tax Fund to be used for the Rapid Response Fund. The Bloomington Urban Enterprise Association also provided $500,000 to the fund.
Applications for these loans are still being processed on a rolling basis, according to the email. On top of the first seven applicants, 15 additional businesses have been accepted to receive loans from the fund amounting to $310,170.
Since the application opened, 171 applications have started and 49 have been completed, according to the email. The city encourages businesses or organizations operated by or serving underrepresented or vulnerable populations to apply for financial assistance, according to the email.
The City of Bloomington’s Economic Stabilization and Working Group organized an interactive webinar local businesses, organizations and nonprofits can attend to learn more about federal and local COVID-19 relief programs. The webinar takes place at 10 a.m. April 24, according to the email.
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