COVID-19 Response - March 2020 Update
Businesses within Lyons planning area are encouraged to apply for the Town of Lyons Revolving Loan Fund (RLF), for an interest-free loan of up to $10,000. In response to the COVID-19 pandemic, loan terms have been extended from eight months to twelve months; interest rates have been reduced from two percent to zero percent; loan limits have been increased to $10,000; and the first payment due date has been deferred to July 15. Learn more and apply through the links below.
Lyons Revolving Loan Fund
The Town of Lyons, through its Revolving Loan Fund (RLF) Ad Hoc Advisory Committee members (collectively the “RLF Committee”), is managing a USDA RLF grant fund and a locally funded, Business Recovery Fund. The federal grant funds were awarded on a competitive basis to the Town of Lyons to use for economic development, more specifically, for business and expansion loans, that may help to create additional employment in the Town of Lyons. When a business repays the loan (via principal and interest payments), these funds are used to maintain a continuing loan program within the local RLF to make additional loans to businesses wishing to expand their business within the Town of Lyons.