Carlsbad approves $5 million package for struggling local businesses

SAN DIEGO (CNS) - The Carlsbad City Council has approved a $5 million economic revitalization package to help businesses affected by the COVID-19 pandemic, and will accept applications for the relief today through May 25.

The majority of the funding, $4.4 million, is for micro loans and small business recovery loans directly to Carlsbad small businesses.

To qualify for the loans, businesses must hold a valid Carlsbad business license as of March 1, 2020, and be in good standing with the city.

Applicants who have already applied for federal assistance may not use city loan money for costs cover...