CCIDA Announces New Round of CARES Act Loans
the Chautauqua County Industrial Development Agency announced a new series of CARES Act ready
IDA said in a statement that it continues to accept applications for low-interest loans for businesses and nonprofits. The agency had received a $10.5 million grant through the CARES Act, which was used to create a revolving loan fund.
The fund provides capital, in the form of low-interest loans. It was made available to a wide range of industry sectors, including professional services, not-for-profit organizations and other sectors that had previously been excluded from receiving CCIDA loan funds. As currently established, the loan fund will provide loans of at least $25,000 and at most $100,000, with an interest rate of 2.44%.
The CCIDA was able to use the loan fund to help more than 50 Chautauqua County businesses and nonprofits, allowing them to stay in business, saving thousands of jobs and helping the local economy rebound.
Anyone interested in applying for a loan can contact the CCIDA office at 716-661-8900.