New Small Business Grants and Loans Available Through Local Industrial Development Agencies (IDAs)

Date: August 10, 2020

NFIB supported legislation, S.8181-A/A.10294, recently signed into law by Governor Cuomo allows county and municipal Industrial Development Agencies (IDAs) to issue loans and/or grants to small businesses. Each IDA is responsible for executing the grant and loan program and has its terms and conditions and application process. Eligible businesses include small businesses with 50 or fewer employees located within the IDA’s geographic jurisdiction. Grants of up to $10,000 are available for the purchase of personal protective equipment (PPE), and loans of up to $25,000 are available for certain business expenses.

The following IDAs have passed resolutions to offer grants and/or loans to local small businesses. Click on the website link to be directed to the IDA website with the grant/loan information and application instructions.

City of Albany (Grants made available from the Albany Community Development Agency and City of Albany IDA) – Pre-application questionnaire open. Applications will be available Aug. 18 and are due by Sept. 18.

Babylon IDA – No application deadline posted

Clifton Park IDA – No application deadline posted

Commerce Chenango – Loans only, no application deadline posted

Erie County IDA – Grant not available until August 17, loan application process open

Livingston County IDA – First round of applications due August 3

Syracuse IDA – First round of applications due August 14

Town of Islip IDA – No application deadline posted

Ulster County IDA – First round of applications due August 12

Westchester County IDA – No information posted online, interested applicants must contact Corazon Pineda at (914) 995-2900.

Additional IDAs are expected to offer grants and/or loans in the coming months and some IDAs may offer additional funding in the future. NFIB will continue to update this web page with any new loans or grants that become available through IDAs.

 

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