EDA Approves Loan Payment Extension For Businesses Severely Impacted By Coronavirus

Press release from the City of Northfield:

April 3, 2020

The Northfield Economic Development Authority (EDA) approved a resolution authorizing a 180-day loan payment extension for businesses severely impacted by COVID-19. The EDA held a special meeting on April 2 via teleconference to review action related to loan payment and interest deferral for EDA loan holders.

“The EDA wishes to support our Northfield businesses during this time of uncertainty,” said Nate Carlson the economic development coordinator.

The EDA approved Resolution 2020-002 by a 7-0 vote to authorize the loan payment extensions that will come through a loan modification agreement.

The EDA encourages those businesses that have an EDA loan to contact staff for further information regarding the loan deferral.

View Resolution 2020-002

This press release was produced by the City of Northfield. The views expressed here are the author’s own.