Posts Tagged ‘loan’

Tuesday, April 21, 2020

Business loan program aims to help Lake Champlain/Lake George region

The Lake Champlain – Lake George Regional Planning Board is helping the region’s small businesses by offering working capital micro-loans for enterprises within Clinton, Essex, Hamilton, Warren, and Washington Counties. The loans will be available for businesses that have been adversely affected by the COVID-19 outbreak. The funds are not to be used to pay off existing debt, refinancing other loans, acquire a position in business, purchase of equipment, investments, expansion, or personal expenses. Other restrictions also apply and more information can be found here.

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Tuesday, April 7, 2020

COVID Update: Loans & Resources for Small Businesses

The Village of Saranac Lake Community Development Department and the Small Business Administration have released an update on loans and resources available for small businesses to help them persevere through this current public health crises.

Economic Injury Disaster Loan (EIDL) is a program intended to help cover working capital, pay fixed debts, payroll, accounts payable, other bills that can’t be paid because of the disaster.

EIDL Loan Advance are grants which provide emergency advances of up to $10,000 for small businesses and private non-profits negatively impacted by COVID-19 within 3 days of applying for an SBA EIDL, an economic injury disaster loan. The advance does not need to be repaid.

 

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