Downtown Syracuse Business and Property Owners,

Are you seeking funds to help cover small business expenses during COVID-19? While the application period for the federal Paycheck Protection Program (PPP) loan program has ended, new city and state funding programs are still available to help your business!
 
State Funding: NY Forward Loan Fund
 
Did you know that 91% of small businesses in New York State have 20 or fewer employees? The NY Forward Loan Fund supports small businesses, nonprofits, and landlords by providing up to $100,000 in working capital for inventory, payroll, operating and emergency maintenance, property taxes, utilities, rent, supplies, and retrofitting for new social distancing guidelines.
  • EligibilityBusinesses and nonprofits with 20 or fewer employees, and owners of residential buildings with 50 or fewer units, that did not receive a loan from the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) or SBA Economic Injury Disaster Loan (EIDL).
  • Annual Interest Rate: 3% for small businesses and small landlords; 2% for nonprofits.
  • Term: 60 months, paid monthly; months 0-12 are interest-only payments.
  • Fees and Collateral: None.
  • For more information, click HERE.
 

City Funding: Syracuse Industrial Development Agency (SIDA)
 
If your business or not-for-profit corporation is located in the City of Syracuse and has 50 or fewer employees, a SIDA loan or grant can help.
  • Grants of $500 to $10,000 to purchase personal protective equipment (PPE) or to acquire and install fixtures to prevent the spread of the virus; and
  • Loans of $3,000 to $25,000 for any purpose related to pandemic response.
  • Applications are available online at www.syrgov.net/Syracuse_Industrial_Development_Agency.aspx.
  • Applications must be submitted on or before Friday, August 14. Completed applications can be submitted to business@syrgov.net or mailed to Syracuse Industrial Development Agency, 202 E. Washington St., Syracuse, NY 13202.
  • For more information click HERE.
 

County Funding: Onondaga County Industrial Development Agency (Coming Soon!)
 
  • The Onondaga County Industrial Development Agency (OCIDA) approved a new $500,000 fund to offer grants of up to $10,000 to small businesses and nonprofit organizations to assist with expenses related to the coronavirus pandemic.
  • Companies with fewer than 50 employees will be eligible for the grants. Grant funds will reimburse business expenditures as far back as March 2020 for personal protective equipment, purchase and installation of sanitizing fixtures, and other health and safety costs necessary for reopening. Applicants will be required to provide supporting documentation for purchases.
  • Applications are not yet open, but information will be available here: https://www.ongoved.com/