Council members raised concerns that the current maximum loan amount of $100,000 from the EELF may no longer be sufficient due to inflation, particularly for high-cost items like commercial kitchen equipment. There's a need to re-evaluate loan limits to ensure the program retains its impact.
At a glance
Declining — being discussed less frequently. 0 mentions in the last 30 days, 1 the 90 before that.
Re-evaluating loan amounts could lead to an increase in the average loan size, potentially requiring more capital in the fund over time, though it is currently self-funded.
Small businesses requiring significant capital for startup or expansion, especially in sectors with high equipment costs like restaurants.
Small businesses unable to secure sufficient funding due to outdated loan limits.