Zero-interest loan program for Watertown businesses getting strong early support (Audio)
April 2, 2020
WATERTOWN, S.D.—Interest as you might expect is very strong for a zero-interest emergency loan program being established by the Watertown Development Company (WDC) for businesses struggling due to the coronavirus pandemic.
WDC Executive Director Chris Schilken (pictured) says loan amounts of up to $9,000 are available to business owners to “buy them more time” to get through what he says is a very scary time for them….
Schilken says there’s also a 90-day deferral until the first installment on the loan is due.
He says as he talks to business owners, it’s the unknown that’s creating so much unrest….
Money for the program is being provided by the city of Watertown, Watertown Municipal Utilities, Reliabank, First Premier Bank, Dacotah Bank, and philanthropist T. Denny Sanford.