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Agencies announce new programs to support businesses

Apr 21, 2020 6:00 am
Sarah Trafton is reporting for Columbia-Greene Media the Columbia Economic Development Corporation has initiated a partnership with the Columbia County Chamber of Commerce, the Hudson Business Coalition and Berkshire Taconic Community Foundation to establish a small business loan fund. “While this program is designed to help as many businesses as possible, funds will be limited,” CEDC President F. Michael Tucker said April 22. Berkshire Taconic Community Foundation has set up a second fund to support nonprofit organizations in Columbia County that provide services to those in need. The Greene County Economic Development Corporation has announced two types of emergency loans last week: one for small businesses with 10 employees or fewer, for up to $10,000, to retain or restore those employees, and another to support micro-enterprise businesses with five employees or fewer for up to $25,000, to help hire new employees. Both loan programs charge zero interest and payments are deferred for the first six months. “Projects that will retain jobs that otherwise would be lost due to the pandemic will receive priority,” according to the Greene County Economic Development Corporation. “This special program can work with any other disaster-related funding source in order to get businesses back up and running as quickly as possible..." Applications can be found at greenecountyedc [dot] com. The submission deadline is June 30. Read the full story at HudsonValley360 [dot] com.