Mohawk Valley Economic Development District, Inc. (MVEDD) has been awarded $3 million from the Economic Development Administration (EDA) through the CARES Act Recovery Assistance Program. MVEDD will administer a Revolving Loan Fund (RLF), which will provide critical gap financing to small businesses and non-profits adversely affected by the coronavirus pandemic. The RLF provides low-interest loans to small businesses and non-profits located within Montgomery, Fulton, Herkimer, Oneida, Otsego, and Schoharie Counties.
Loans may be used for working capital expenses (payroll, rent or mortgage payments, utilities, or expenses relating to COVID-19 social distancing measures) or any necessary expenses for responding to economic injury due to coronavirus. MVEDD is now accepting applications. To apply, visit mvedd.org for more information and the application.
