Plus, SBA Restaurant Revitalization Fund Details
Plus, SBA Restaurant Revitalization Fund Details
If you're having trouble viewing this email, you may see it online.

Oswego County Economic Development News

April 29, 2021
Twitter Facebook LinkedIn

Mayor Barlow announces $150,000 available through Oswego REVIVAL business grants

Mayor Billy Barlow announced today the City of Oswego has made available $150,000 in grant funding through the Oswego REVIVAL Business Grant Program for small businesses still closed due to the COVID-19 pandemic and new businesses planning to open in the near future.  In order to be eligible for funding, businesses must demonstrate a continued hardship created by the COVID-19 pandemic, that prevented the business from reopening.  Funding will also be made available for new businesses looking to open, and businesses looking to expand or relocate in the City of Oswego in 2021.
“Throughout the pandemic, we’ve supported existing small businesses using loan funding, grant funding and other economic initiatives.  Now, we aim to help those businesses still unable to reopen due to mounting costs, revenue shortfalls and other pandemic-related issues.  We also intend to revive the momentum we experienced pre-pandemic, introducing new businesses to our community and assisting existing businesses with expansion or relocation projects,” said Mayor Barlow. 
“Downtown Oswego is in the midst of a true revival and ensuring continued growth and success is key to building on our accomplishments.  This funding will allow city government to assist with critical projects as we work to aid our local, small business community and keep moving Oswego forward,” Barlow said.
Grant funding allocations for business reopening will be capped at $10,000 per business.  Allocations for new or expanding businesses will be capped at $25,000 per business.  This grant funding has been made available by the federal government’s American Rescue Plan funding package passed earlier this year, awarding the City of Oswego $1.89 million. 
“Oswego’s small businesses are an integral part of the unique fabric and identity of our community and the REVIVAL grant program will help to deliver support to those businesses when they need it most,” said 3rd Ward Councilor Kevin Hill.  
Funding request applications are available from the City of Oswego Office of Economic Development located at 44 East Bridge Street.  Applications may be submitted in person or emailed to nemmons@oswegony.org.  All questions or clarification regarding the program or assistance with the application may be directed to the City of Oswego Office of Economic Development at (315) 343-3795. The application may also be found on the city website at https://www.oswegony.org/government/covid-revival-grant-application.
Applications are due by May 7, 2021 at 5:00 p.m.

COVID-19 Emergency Relief Program Loan Funds Still Available for Businesses

There are still funds available for loans to businesses in need due to the strain of COVID-19. We are receiving numerous new loan applications, so if your business is at risk, don’t delay. Make your application today.
What is the COVID-19 Emergency Relief Program?
The COVID-19 Emergency Relief Program is a loan fund set up to provide zero-interest, 180-day (6 month) loans up to $10,000 to small businesses with 50 employees or less.  The loans are intended to support operations and employment directly impacted by COVID-19.  Loans that are unable to be paid at the end of the 180-day period will be converted into a 2-year loan at 3.0% interest.
There is no cost to apply. There are no closing costs, no filing fees, and no attorney fees charged by Operation Oswego County. 
Who is eligible?
Commercial, for-profit entities that own or manage a business located within Oswego County and can provide evidence of a loss in sales, income, and/or cash flow within the last 60 days, or into the foreseeable future. This is a great program for restaurants, small manufacturers or tourism related businesses.  A business is not eligible if it still has an outstanding balance from a previous COVID Emergency Relief Loan from either OOC or the City of Oswego
Loan Collateral & Security
All individuals owning 20% or more of the business entity will be required to execute a personal guarantee. 
How can businesses apply?
The application is available on the COVID-19 Resources page on our website.
For more information about the COVID-19 Emergency Relief Program, call OOC at 343-1545 or visit www.oswegocounty.org.

Restaurant Revitalization Fund 

Registration for the Restaurant Revitalization Fund (RRF) will begin Friday, April 30 at 9 a.m. EDT and SBA will begin accepting applications via the application portal on Monday, May 3 at 12 p.m. EDT. The application portal will remain open to any eligible establishment until all funds are exhausted.
How to prepare
In preparation, qualifying applicants should familiarize themselves with the application process in advance to ensure a smooth and efficient application. Follow the steps below.
For more information, visit sba.gov/restaurants.
315-343-1545
44 West Bridge Street | Oswego, NY 13126 US
This email was sent to elivoti@oswegocounty.org. To ensure that you continue receiving our emails, please add us to your address book or safe list.

manage your preferences | opt out using TrueRemove®.

Got this as a forward? Sign up to receive our future emails.
powered by emma