Marseilles City Council approves emergency business loan program

Marseilles City Council approves emergency business loan program

The Marseilles City Council voted Wednesday to approve changes to the Community Development Assistance Program.

Mayor Jim Hollenbeck says the changes allow the city to offer no-interest loans to local businesses taking a hit because of the coronavirus.

Businesses can borrow up to $10,000 and defer the first payment for up to six months.

Since the program was announced last week, Hollenbeck says he’s received three loan applications.

Ottawa Savings Bank is helping with the loans.