Orleans Economic Development Agency: Loans

Loans
Project & Site Location Assistance | Tax Incentives | Financing Programs
Microenterprise Assistance | Loans | Job Training Programs

"Orleans County leads New York State in GOSC loan activity."

According to Steve McGratton, from the Governor's Office
for Small Cities'.

NYS Small Cities Grant/Loan Program
The primary objective of the Governor's Office for Small Cities' (GOSC) Economic Development Program is to provide funds to local governments who in turn use the dollars to assist qualifying businesses who undertake activities resulting in the creation/retention of job opportunities for low-and moderate-income persons. New York State Small Cities Community Development Block grants for economic development may be applied for through the Orleans Economic Development Agency. $7,500 per job created may be applied for with a maximum of $750,000 and a maximum of 40 percent of the project.

Microenterprise Revolving Loan Fund (RLF)
Loans to small businesses are available for working capital, inventory or machines & equipment from $2,500 to $25,000. The interest rate for this type of loan is fixed at 75 percent of prime. Eligible applicants must be prospective entrepreneurs of at least 18 years of age and a resident of Orleans County, or an existing Orleans County small business with five employees or less.