6 local businesses land city-backed microloans
Why it matters: The program offers entrepreneurs new low-interest and small-dollar loans to foster long-term economic stability, neighborhood revitalization and a more inclusive business landscape.
Catch up quick: The City Council approved $100,000 for the program in October.
The program makes loans of up to $20,000 each to businesses with 20 or fewer full-time employees at 2 percentage points below prime rates.
The recipients
24K Juicing, a health-focused business, is opening its first storefront at 300 E. Grand Ave. with new energy-efficient kitchen equipment, a self-serve kiosk and expanded health-focused offerings.
Black Bagel is preparing to open in the Center at Sixth corridor, aiming to create a community gathering space with house-made locally sourced bagels.
Chandelier, an event venue at 413 Euclid Ave., is reviving a long-vacant building and supporting other entrepreneurs through an open vendor model.
Hotori, a new business at 1417 Walnut St., is offering Asian groceries, home goods and cultural events like tastings and cooking demos.
The Rook Room, previously a pop-up event business, recently expanded into a full-scale board game lounge and café at 300 SW Fifth St.
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