Friday, February 28, 2014
Central New York Small Businesses Encouraged to Apply For Second Round of Grant-and-Loan Program
These micro businesses serve the needs of many locals but often fall through the cracks when it comes to getting financial support. That's why the second round of the Small Business Revolving Loan program is good news to small business owners throughout Herkimer County, New York. They now have another opportunity to apply for the program's combination grant-and-loan program.
Grants from the Herkimer County Industrial Development Agency (IDA), who started the Small Business Revolving Loan program, are normally reserved for industrial, manufacturing, and distribution businesses. The new grant-and-loan program gives the mom-and-pops an opportunity, too. Grants up to $2,000 along with low-interest loans up to $2,000 are being offered again to eligible small businesses located in Herkimer County.
The grants and loans are made possible due to a $50,000 grant to IDA from Empire State Development. Empire State Development ( ESD) is New York’s chief economic development agency responsible for promoting job and business growth across the state of New York. Businesses who qualify must have 10 or fewer employees and have been in Herkimer County for at least one year.
For more information, visit www.herkimercountyida.com/financing-programs/