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The Hallandale Beach CRA Board Of Directors Votes To Forgive $500,000 In Coronavirus Related Business Assistance Loans In Order To Help Struggling Businesses Survive
In April of 2020, as the COVID-19 virus raged across the nation, and cities and businesses shut down due to various lockdown orders, the City of Hallandale Beach Community Redevelopment Agency (HBCRA) created the $500,000 Coronavirus Small Business Sustainability and Recovery Loan Program for businesses within the Community Redevelopment Area (CRA). The program was comprised of two separate loans: The Business Employment Bridge Loan, which provided a potentially forgivable bridge loan in the amount of $50,000 to businesses in order for them to maintain and/or rehire risk employees, and The Emergency Business Cash Infusion Loan, which provided a $15,000 loan for businesses. […]