City of Marina approves loan programs for businesses and residents

MARINA, Calif. (KION)

On Tuesday night the City of Marina unanimously approved a loan program for business and residents affected by COVID-19.

The city is setting aside $100,000.00 for each program. Residents can received a maximum of $2,000 dollars and businesses can receive up to $10,000.00 under the programs.

A Finance Committee is being appointed to oversee details of the program and it's requirements.

For example, as of Tuesday night a business must have 10 employees or less, but that seemed to be an issue for come council members and is likely to change.

Residents applying for the loan must make less than 80 percent of the median household income.