President Trump has now signed the COVID-19 relief package that was approved by Congress last week. An overview of important points for the local business community is provided.
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.
All businesses, including low-risk outdoor arts and entertainment, agritourism, farmers markets, and craft beverage producers must comply with industry-specific guidelines to reopen and to remain open during the COVID-19 Public Health Emergency. The State’s guidance, available at https://forward.ny.gov.
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.
The federal CARES Act was signed into law March 27, 2020. The Act provides enhanced Unemployment Insurance (UI) benefits and Pandemic Unemployment Assistance (PUA) for New Yorkers. Find important information for New Yorkers here -> https://www.labor.ny.gov/ui/cares-act.shtm
SBDC at JCC is trained to assist with the SBA loan application process. Please call them at (716) 338-1024. For more information, please read this attachment.