The Cattaraugus County Department of Economic Development, Planning and Tourism and the Cattaraugus County Economic Sustainability and Growth Corporation have been awarded funds from the Office of Community Renewal to establish a grant fund for Microenterprises in Cattaraugus County.
Donor Name: Cattaraugus County
State: New York
County: Cattaraugus County (NY)
Type of Grant: Grant
Deadline (mm/dd/yyyy): 04/22/2022
Size of the Grant: $10,000
Details:
The business must either be:
- Owned by a low- or moderate-income person(s) as defined by HUD- applicants will be required to submit proof of income and family size by providing most recent tax returns or
- The assisted business activity to be undertaken with assistance from the Program must directly result in the creation of employment positions consistent with the low- and moderate-income benefit provisions of the Federal regulations governing the CDBG program. Proof of job creation and income and family size of the employee(s) will be required before grants funds are paid out.
Low-or-moderate income status will be determined based on income (as determined from the business owner’s most recent Federal income tax return) and family size, using the most current income limits adopted by HUD.
Funding Information
The Program is a reimbursable grant of $10,000 with a 10% match by the awardee. Larger grant amounts may be considered. Funds are limited.
Eligible uses of funds include
- Fixed assets including machinery and equipment
- Personal property including furnishings and fixtures
- Operating expenses and working capital
- Current Assets including inventory and receivables
Note that projects that enhance the long-term viability of the business such as rent, insurance, creation of a website or ecommerce site, purchase of a point of sale or CRM system, will be encouraged.
Criteria
The business must be located in Cattaraugus County and must meet the Program objectives. Funds cannot be used to fund any construction or related costs including rehabilitation, renovation, leasehold improvements, and demolition or clearance activities. Ineligible activities are those that consist of investing, speculation, or realty ownership held primarily for sale or investment; any activity which is illegal; and any activity which does not further the objectives of the Program will be ineligible for Program financing. Applicants must be current on any taxes or loans owed to Cattaraugus County.
Program grants may not be used to reimburse costs that were paid for with funding from any other business assistance program or relief benefits from any other source, including, but not limited to, any program funded under the CARES Act or other COVID-19 relief legislation, such as the Paycheck Protection Program or Economic Injury Disaster Loans.
For more information, visit Microenterprise Assistance Program.
