The City of Utica is offering an Economic Stimulus Loan Program to help local businesses that have been impacted by coronavirus.

A pool of $500,000 will be available.

The business must be located in the City of Utica and have 25 employees or less and funding is tied to retention of low to moderate income employees.

The maximum loan will be $10,000 and all loans will have zero interest.

Mayor Robert Palmieri said, “It is imperative the city and community step up and do everything possible to support our local businesses during this crisis. I am pleased the city is in the position to offer assistance and we will explore every opportunity to keep Utica businesses viable.”

A loan application can be found on the City’s website.