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Angola Officials Announce More Businesses to Receive Small Business Forgivable Loans for COVID-19 Recovery
Wednesday, January 20, 2021

ANGOLA, IN – Seven additional Angola businesses have been awarded a forgivable loan. These awards bring the total of sixteen small businesses awarded a total of $153,000 in 2020 and 2021.

This funding is made possible by the Indiana Office of Community and Rural Affairs (OCRA) and the Angola Investment Fund (AIF).

The AIF is responsible for managing the Angola AIF/OCRA fund.

The forgivable loan program is designed for local service and retail small businesses that had been adversely impacted by COVID-19 and the restrictions it has imposed. The funds will assist these businesses during this challenging economic period.

OCRA agreed to award $250,000 to Angola for this forgivable loan program. The City of Angola through the AIF added $100,000 to increase the total amount available for forgivable loans to $350,000. The given funds that meet certain criteria will be forgiven. Minority-owned businesses will be given priority with this program.

“Our Angola small businesses have experienced an unprecedented challenge as a result of the pandemic,” Mayor Richard Hickman said. “This is a wonderful opportunity to join forces with OCRA and bring needed financial support to these hard-working small businesses. These funds will be a great tool to help our Angola small business community survive and be successful.”

After considering three rounds of funding, applications submitted, the committee has voted to approve 16 small businesses located in the city. The award amounts range from $5,000 to $10,000, and was determined by the adverse impact COVID-19 has had on their business. The recipients of the forgivable loans in round 3 were:

• Everage Auto
• Just Breathe Salt Room & More
• Caleo Café
• Mitchell’s Fine Men’s Clothing
• The Hatchery Restaurant
• Angola Sports Center
• M.B.C Distributing

Applications are still being taken for retail and service small business severally impacted by COVID-19. Please go to the city’s website at
https://www.angolain.org/egov/apps/document/center.egov?view=item;id=1066

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