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Posted on: March 30, 2020

Small Business Development Loan Payments Deferred

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As part of its response to the COVID-19 pandemic, Troy’s City Council has approved a three-month deferral of loan payments for businesses who have received loans through the City’s Community Development Block Grant and Small Business Development Fund.

There are currently 29 loans being paid back to the City of Troy through these programs. The resolution passed by Council reads that "Troy City Council desires to lessen the burden on these local businesses caused by the COVID-19 pandemic and required closings and restrictions."

Interest on these loans will not accrue for this three-month period until August 1, 2020. If you have questions, please contact the Development Department at 937-339-9601.

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