A total of 16 Angola businesses who were adversely affected by COVID-19 have been awarded a forgivable loans.

The Indiana Office of Community and Rural Affairs, awarded Angola $250,000 for the loan program. The Angola Investment Fund added $100,000 to increase the total amount available for forgivable loans to $350,000.

The AIF board has exhausted roughly 69% of the original funds for the program. The figure is based on the amount of money already given out, as well as several pending applications, but more funding could be on the way.

Angola City officials anticipate applying for another round in order to keep this going as long as possible.

With approximately 30% of the program’s funds still remaining, it’s not too late for other Angola businesses that have been adversely affected by COVID-19 to apply for a forgivable loan. To learn more about funding or to apply for a loan, business owners should visit the city’s website, or contact Vivian Likes in Angola’s Economic Planning Department (260-665-7465, ext. 7265).