The Cortland County Business Development Corporation is offering special low-interest loans to micro and small businesses currently struggling with cash flow due to the COVID-19 pandemic and Governor Cuomo’s NYS on Pause order.
Approved yesterday by the Board of Directors, the low-interest loans are available from $10k-$25k with all fees waived for qualified businesses needing immediate funds to support their operations.
BDC/IDA Executive Director Garry VanGorder says these loans are intended to help bridge between the additional state and federal assistance on the way in pending legislation.
“We are working every day to provide information to our businesses that can help them through this, and this one more thing that we can do,” said VanGorder. “Our traditional loan program has been a great resource over the years, and we are hopeful that this modification of it will be valuable in these difficult times, as well. The challenges to our small businesses are unprecedented.”
Additionally, Cortland County Legislature Chairman Paul Heider was pleased with the BDC for taking action and helping the community.
“Small business is the backbone of our economy and no place is that concept more important than right here in Cortland County,” Heider said. “The Cortland County Legislature stands with the BDC and supports these steps in order to make sure our small businesses are ready to rebound as soon as the all-clear sign is given.”
Visit www.cortlandbusiness.com for more details.
PRESS PLAY BELOW to hear directly from Van Gorder (thank you to Clerk of the Legislature Eric Mulvihill for the audio)