56 Main Street Owego NY 13827
Owego, NY 13827
Main Phone:
607-687-8225
Last Updated: 12/2/2020
The Tioga County Industrial Development Agency (TCIDA) is offering, on behalf of Tioga County, an Emergency Relief Loan Program (ERLP) for small business in Tioga County that have been impacted by the Coronavirus pandemic.
The ERLP Fund will offer up to $25,000 loans to small business applicants in order to address the financial impact caused by COVID-19. This new loan program will provide business owners in need of a short-term immediate solution for working capital. This program is available to small business to cover ongoing expenses, help prevent staff reductions, offset losses, and help companies sponsor sick pay for workers, as necessary.
There is a $50 application fee and approved recipients will be responsible for a one-time flat fee to pay for legal expenses. Loans will provide 0% interest and will be payable until maturity of the loan up to six months upon disbursement. Loans unable to be paid at the end of the six months can be restructured and converted into low interest loans with a competitive rate not to exceed 4%.
Application, Flyer, Scope of Work, and Loan Intake documents are available below.