May 21, 2022

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New tool in county’s economic development toolbox | News

Very little VALLEY — There’s a new tool in Cattaraugus County’s economic progress toolbox — a microenterprise grant program.

The Division of Financial Development, Setting up and Tourism and the Cattaraugus County Economic Sustainability and Expansion Corporation have been awarded funds from the Office environment of Community Renewal to create a grant fund for microenterprises in the county.

A microenterprise is outlined as getting 5 or much less workers, one particular or more of whom possess the organization.

Not-for-gain corporations or related nonprofit entities are not qualified for the software. The application is accessible to present as effectively as startup micro-organizations. Applicants will be essential to post a accomplished application as very well as business enterprise strategy.

The company ought to be owned by a lower- or average-revenue man or woman(s) or the assisted small business action to be undertaken need to directly consequence in the creation of careers. Proof of work creation and revenue and loved ones dimensions of the staff(s) will be needed in advance of grants cash are paid out. Low or reasonable profits standing will be established centered on the latest earnings tax return and relatives dimensions.

Suitable takes advantage of of funds include things like:

• Mounted property such as equipment and equipment.

• Own home which include furnishings and fixtures.

• Functioning charges and functioning funds.

• Existing Belongings such as inventory and receivables.

The small business will have to be situated in Cattaraugus County and will have to satisfy the System aims. Cash are unable to be used to fund any development or relevant costs including rehabilitation, renovation, leasehold advancements, and demolition or clearance things to do.

Ineligible functions are individuals that consist of investing, speculation, or realty possession held primarily for sale or expense any exercise which is illegal and any exercise which does not further more the objectives of the Method will be ineligible for Plan funding.

The Program is a reimbursable grant of $10,000 with a 10% match by the awardee. More substantial grant amounts may well be thought of, but resources are limited.

Awardees will also be expected to entire 6 entrepreneurship schooling courses. The classes will be concluded separately with a little company counselor and can be scheduled at the convenience of the awardee. The classes are customizable to the demands of the organization fairly than a generic information and facts session.

The deadline for completed programs and all necessary documentation is April 22, at 3 p.m. Concluded programs can be submitted through electronic mail to [email protected] or by mail:

Cattaraugus County EDPT/CCESGC

For any issues with regards to this software or to receive an application and a template to generate a small business plan be sure to contact Christine Urf at (716) 938-2311 or [email protected]