COVID-19 Micro Enterprise Forgivable Loan Program
Applications are now available for the CDP forgivable loan program for small businesses in the 8 Lower and Outer Cape towns. This Micro-enterprise Relief Program (MRP) is designed to assist businesses with 5 or fewer employees (including the owner(s)) that have been negatively impacted by the COVID-19 pandemic. The program will provide one-time forgivable loans up to $10,000 for business owners who need financial assistance to support business operational costs in order to keep the business sustainable. Funds must be used within six months of award. Applications will be accepted on a rolling basis. Funding will be awarded based on a first come, first eligible, completed application basis, subject to the availability of funding.
Eligibility Criteria Include:
- Business must have 5 or fewer employees including owner(s) at time of application.
- Business owner(s) must meet the Low to Moderate Income criteria (check out the application, you might be surprised at the income requirements)
- Business must have started their for-profit operations prior to 1/1/2019
- Must demonstrate a COVID related loss
There are two methods for submission, electronic and paper.
If you wish to use the electronic version:
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Here is the link to a google form Electronic Questions
- The google form asks how you would like to submit your attachments which can be done via paper or with an upload. An upload link will be provided when Google Form has been received.- If you are applying over the Thanksgiving Holiday Week please submit your additional documentation via paper. The upload link will be unavailable.
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The required attachments are included Electronic Application Description and Attachments.
- Submit attachments through the method you choose.
- Your application will be stamped with the date and time received. However, if the uploads are not submitted in one complete package and other items are submitted at a later date, that will be the date and time of COMPLETE Application.
If you wish to use a paper version:
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A full paper application with a list attachments.
- Fill out the application and return to the CDP at 3 Main Street Mercantile, Eastham, MA 02642. To ensure contactless delivery of documents please leave your application package in the CDP mailbox which is between units 7 & 8. Then call Alex at 508-240-7873 x22 to let him know that the application had been dropped off.
- Alex will then be able to stamp the application with the time and date received. However, if the application is not submitted in one complete package and other items are submitted at a later date, that will be the date and time of COMPLETE Application.
If you need a pre-printed paper version: A paper version of the application is available at the CDP Offices in the “drop” box which is located below the CDP mailbox between units 7 & 8 at 3 Main Street Mercantile, Eastham. There will be multiple copies in the yellow file folder, please take only what you need so that there are copies for others that may also be in need of this version of the application.
If you have questions or need assistance with any part of the application please contact Pam pam@capecdp.org or 508-514-1369 mobile or schedule an appointment using the links below.
