Are you lacking tools to grow your business in Lewis County? The Naturally Lewis Building Business Fund will provide matching funds to businesses looking to scale-up their business operations through various “tools.”
Donor Name: Naturally Lewis
State: New York
County:
Type of Grant: Grant
Deadline: 10/13/2023
Size of the Grant: $10,000
Details:
Funds can be used for literal tools or figurative tools (business services/professional services) to assist business growth. Businesses must demonstrate how the “tools” will increase revenue, add jobs, or provide expansion into new markets.
Funding Information
- The Community Economic Development Program has made $100,000 available to create the Building Business Fund.
- Businesses with projects that demonstrate significant business growth will receive a one-time grant, funding 50% of projects $10,000+ of selected project costs.
- Funding can NOT be rewarded to retroactive projects.
- Grant Funding is awarded up-front as a forgivable loan with 0% Interest for 2 years.
- Recipients have up to three years to complete the project with agreed upon milestones. Once the project is complete and milestones met, the loan is forgiven and becomes a grant.
- If a project is not complete within the three-year timeframe, applicants start paying interest and principal on the loan, until the project is complete.
- Recipients have up to three years to complete the project with agreed upon milestones. Once the project is complete and milestones met, the loan is forgiven and becomes a grant.
Eligible Projects
- Must be a for-profit business located in Lewis County, NY
- Applicants can apply for funding of $10,000 or more, but must demonstrate a 50% match of their requested funding.
- Existing businesses with plans to expand or diversify products or service.
- Can be used for equipment, machinery, working capital, training, and workforce development
- Projects must show overall benefit to the community and promoting economic development through growing business.
- Applications can NOT be submitted for retroactive purchases, which includes any project that has already started or has been completed.
Evaluation Criteria
- Project must demonstrate the funding will assist to grow or expand their business (ex. Job creation, employee retention, expansion to new markets, etc.)
- Projects should demonstrate overall community benefits (Ex. Job creation and/or retention, enhanced infrastructure, community revitalization, beautification, etc.)
- Project must be completed within 2 years of receiving funding.
- Project must demonstrate 50% match of requested funding
For more information, visit Naturally Lewis.
