Updated: June 27, 2022 06:38 PM
Created: June 27, 2022 04:45 PM
ROCHESTER, N.Y. (WHEC) - Monroe County Executive Adam Bello announced Monday that the County is offering up to $25,000 in forgivable working capital loans for small businesses.
These forgivable loans can provide up to six months of assistance—depending on the eligibility and needs of the applicants. The funds can be used to cover day-to-day expenses including payroll, rent/mortgage payments, and utilities.
The loans will automatically convert to grants at the end of the affordability period and once all requirements set forth in the agreement are met.
The program is made possible by the U.S. Department of Housing and Urban Development Community Development Block Grant Coronavirus Aid, Relief and Economic Security allocations through NYS Homes and Community Renewal.
Once applicants demonstrate their eligibility, county case managers will assist business owners to determine how much assistance can be provided. The maximum loan amount is $25,000.
Funding is limited and will be supplied on a first-come, first-served basis. More information is available on the Monroe County website, by calling (585) 753-2000, or by emailing firstname.lastname@example.org.
The application period will remain open until all funds have been committed.
Eligibility criteria are as follows:
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