Angola, IN – One additional Angola business has been awarded a forgivable loan.

These awards bring a total of thirty-three small businesses awarded a total of $309,696 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 latest recipient of the forgivable loan is Anytime Fitness.

A check presentation for Anytime Fitness Angola will occur this Thursday, April 22, at the Angola Training Center, 306 W. Mill St. Angola, Indiana at 2 p.m.

The forgivable loan program is designed for local service, restaurant, 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.

Angola Mayor Richard Hickman said he is “once again pleased that the Angola Investment Fund can reach out into our small business community and help those that are the backbone of our community”.

Completed applications are reviewed by the AIF/OCRA Review Committee who is made up of local finance professionals and community representatives that are convened by the city to evaluate the applications. After considering seven rounds of funding applications submitted, the committee has voted to approve 33 small businesses located in the city. The award amounts range from $5,000 to $10,000, and were determined by the adverse impact COVID-19 has had on their business.

Applications are still being taken for retail, restaurant, and service orientated small businesses severally impacted by COVID-19.

Please go to the city’s website to learn more about the funding and how to apply.