The Chautauqua County Industrial Development Agency will once again continue to accept applications to provide low-interest loans to both businesses and non-profit organizations as a means to respond to economic injury resulting from the COVID-19 pandemic. This new round of funding starts immediately.
In early 2020, as part of EDA's CARES Act Recovery Assistance, the U.S. Economic Development Administration (EDA) invited select current recipients of existing EDA-funded Revolving Loan Fund (RLF) awards, including the CCIDA, to apply for a supplemental RLF award to help respond to the unusual and compelling urgency of the coronavirus pandemic. EDA had determined that the CCIDA, by virtue of its longstanding and substantial investment in making credit available to small businesses, possessed unique abilities to support the CARES Act Recovery Assistance initiative and that it was therefore in the public's best interest to make this award available on a non-competitive basis.
Since the establishment of the RLF, the CCIDA has been able to assist more than 50 businesses and non-profit organizations in Chautauqua County, allowing them to remain in operation, thereby saving thousands of jobs and helping the local economy rebound.
Mark Geise, Deputy County Executive for Economic Development and CEO of the CCIDA, says, "We still have funding remaining from the initial award, and the application and program details are currently available." He urges anyone interested in applying to contact the CCIDA office at (716) 661-8900.
