Midland Development Corporation offering loans to small businesses affected by COVID-19

Midland Development Corporation logo.
Midland Development Corporation logo.(MDC)
Published: Jul. 1, 2020 at 6:07 PM CDT
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MIDLAND, Texas (KOSA) - The Midland Development Corporation is looking to help local businesses that are affected by the COVID-19 pandemic.

According to a release, the MDC is implementing a small business assistance program to offer funding to local Midland businesses.

The MDC is committing up to $1 million from its promotional fund to provide the businesses with forgivable loans up to $25,000.

“Midland’s small businesses are essential to our city’s economy and social fabric. MDC’s program will provide aid to local businesses by responding to our current economic environment and investing in our community,” said Midland Mayor Patrick Payton.

Applications will be accepted starting Monday, July 6.

“Our organizational mission is to strengthen and diversify the Midland economy. Right now, the MDC’s resources can be deployed to strategically aid businesses that are facing unprecedented challenges,” said Wesley Bownds, Chairman of the MDC.

More information on how to apply can be found online here.

Copyright 2020 KOSA. All rights reserved.

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