Mecklenburg County considers $5M loan pool to aid small businesses hit by COVID-19 crisis

Mecklenburg County commissioners will consider a $5 million loan pool Tuesday night to help small businesses reeling from the coronavirus pandemic. An outline of the proposal included in the commissioners board’s agenda describes a program that would put money in successful applicants’ hands within 10 days.  Loans would be offered between $10,000 and $35,000 with 3% interest rates and 10-year terms. The money would come from the county budget fund balance for the fiscal year that ends June…