$50 million in loans for small business will be available, with the city picking up interest payments

The city of Jacksonville is willing to help with up to $50 million in loans made by VyStar Credit Union as part of the city-backed small business relief program, which the Jacksonville City Council unanimously approved on Monday. That pot of money could help up to 500 businesses, if each got the maximum amount of $100,000. If businesses get smaller loans, the number of those helped could be up to 10,000. The total cost for the city is capped at $26 million over six years, according to the legislation.…
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