The Bay City Community Development Corporation (BCCDC) is rolling out a new program this year -- the Business Resiliency Program.
The program is a loan-to-grant program that, when established milestones are met for the business, the loan converts into a grant. Requirements for application are simple and straightforward to encourage businesses to apply. Businesses must prove one of the three following requirements to apply: stimulate economic growth; enhance business resiliency; or improve the quality of place of Bay City.
Loans will not exceed $30,000 and businesses are eligible once per year. Both new and existing businesses are eligible to apply.
“The Bay City CDC is committed to creating a welcoming, positive environment that encourages new and current businesses to invest in Bay City,” said BCCDC Secretary Becca Sitz.
“Hurdles encountered when existing business seeks to expand or new businesses come to town, whether that be extending utilities or environmental studies on property, need to be dealt with promptly so that Bay City continues to offer choices to its residents and grows alongside our citizens,” said President Julie Estlinbaum.
“We want existing businesses to know we want them in Bay City and this program, along with our Business Retention and Expansion matching grant does just that,” said BCCDC Vice President Floyce Brown.
New businesses are continually looking at Bay City to establish a presence because they see the potential here, said Erik Frankson, BCCDC board member.
“I’m excited to share this program with prospective businesses so that they can serve our citizens,” Frankson said.
Bay City Mayor Robert Nelson expressed his enthusiasm for the program saying, “Stimulating economic growth has proven to lower unemployment and encourage investment in communities. I am pleased the Bay City CDC is investing in quality growth of Bay City in anticipation of our future needs.”
The Business Resiliency Program is scheduled to begin in January of 2020. Applications will be available for pick up at the BCCDC offices, 1112 7th Street. The board meets the last Monday of each month and will consider applications at each meeting. For additional information please visit the BCCDC office or call 979-245-8081.