Barry Community Foundation
231 S Broadway,
Hastings, MI 49058
Route 66 Business Loan Fund
This fund will be a sub fund of the Route 66 Business District Fund. The fund is a “purpose restricted” fund and will only benefit partners in good standing of the Nashville Route 66 Business District.
Grants may be made from the fund when the advisory committee of this fund makes a recommendation to and is approved by the Barry Community Foundation Board of Directors. Board meetings occur on the third Thursday of every month; recommendations from this fund will be placed on the consent agenda, then paid right after the meeting.
The money contributed to assist small businesses who are suffering during this time will only be allowed to be loaned to the small businesses (50 employees or less) who are partners in good standing of the Nashville Route 66 Business District. As the loans are repaid, the funds shall remain accessible to the Route 66 Business District for future use; however, no funds will be returned to individual donors.
Requests to this loan fund will be evaluated by the Impact Investment Fund of the Barry Community Foundation, using the same application being used by for the local SBA loans, and be considered at the same time. The interest rate shall be 0% for 5 yrs with a maximum loan of $5,000. The loan may be used to pay employees, rent, or other ongoing costs that COVID shutdown has made necessary.
The Community Foundation has an Impact Investment Fund* with a standing committee: Andy Cove, Edward Jones; Chelsey Foster, Commercial Bank; Mark Kolanowski, Highpoint Community Bank; Fred Jacobs, J-Ad Graphics and BCF; Dave Coleman, retired Insurance Company; Karen Heath, Retired Small Business Owner; Jennifer Heinzman, Barry County Chamber & Economic Alliance and Bonnie Gettys, BCF. Each member of the committee must note any conflict they may have if an applicant is a customer of theirs.