The grant program allows grants of $2,000 to small business in Herkimer County who need financial assistance. In addition to the grant money, which does not require repayment, small business owners may also apply for low-interest loans of $2,000 at an interest rate of two percent for two years.
The program was designed to provide grants for small business such as restaurants, retail shops, and other commercial operations to help them pay for equipment and other needs vital to their business. In the two years since the program began, 22 small business owners have received help through the revolving loan program.
Herkimer County is located in New York State. HCIDA is responsible for managing the revolving loan fund. Established in 1970, the agency was created to assist businesses within the county create or retain job opportunities. It is a public corporation that works to benefit the public through business and commercial growth in Herkimer County.
For more information, www.herkimercountyida.com
