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City Establishing Revolving Loan Fund

November 8th, 2023 by WCBC Radio

A Micro-Revolving Loan Fund, designed for new small businesses along with a Business Disruption Fund is being planned by the City of Cumberland.  Money loaned can be used for specific business purposes and will also be available to businesses that have had disruptions due to the Baltimore Street Project. Jeff Silka, City Administrator, described the program during the Mayor and Council work session, saying the loan rate will be about 3%.