The CCIDA Board approved funding for 28 businesses and non-profit entities in the following sectors: manufacturing/warehousing; not-for-profits; retail/commercial/agriculture; small business; and tourism/hospitality. All said, $5,736,293 in funding was approved by the Board of Directors after a thorough review by the Loan Committee, which will, in addition to retaining hundreds of jobs, create upwards of 100 new jobs.
CCIDA AWARDED $10.5 MILLION IN FEDERAL FUNDING TO ESTABLISH NEW LOW-INTEREST REVOLVING LOAN FUND
The U.S. Economic Development Administration (EDA) officially announced on September 9th that the County of Chautauqua Industrial Development Agency (CCIDA) has been selected as the recipient of a $10.5 million grant through the CARES Act, which will enable the agency to establish a new Revolving Loan Fund (RLF). The RLF will provide capital in the form of low-interest loans to both businesses and non-profit organizations as a means to respond to economic injury resulting from the COVID-19 pandemic.
SBA Funding Options & Resources
The U.S. Small Business Administration has relief options and resources available to the small businesses across the nation that are impacted by the COVID-19 crisis.
Harris Beach: Important Federal Stimulus Information
On March 27, 2020, “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” was signed into law by the President. This CARES Act provides approximately $2 trillion in relief to address the widespread economic harm caused by the COVID-19 pandemic. This follows enactment of two previous coronavirus relief bills—an $8.3 billion measure for […]
