First Reliance Bank and The Town of Lexington have created a $1 million dollar loan program to aid in-town businesses impacted during the covid-19 pandemic.

The program allows qualifying businesses to apply for a 4-year loan up to $20,000 at a 2% interest rate.

The program is part of Lexington Town Council’s emergency ordinances to provide short-term and long-term relief for businesses and residents.

“We know our businesses have been hit hard during this time, and Town Council has been working to help them out in every way possible,” said Lexington Mayor Steve MacDougall.

“We appreciate First Reliance working with us to make this program a real ity and truly value the great relationship we have with them,” said MacDougall.

To pre-qualify, businesses must have a current Town of Lexington Business License with a physical location within town limits.

Those interested, can visit https://bit.ly/2YMri2E to submit their application.