Stay up to date on the latest Essex County business information
COVID GRANTS AVAILABLE
"Raising the Bar" Grant

Funding can be used for COVID-19-related improvements and equipment that will allow the business to comply with social distancing guidelines, expand take-out/delivery operations, or accommodate outdoor dining such as plexiglass barriers/partitions, signage promoting social distancing and hygiene protocols, heaters, heat lamps, weatherization upgrades and insulated delivery bags; improvements that will allow the business to continue operating through the winter months such as filtration system upgrades and food heaters to maintain temperature for to-go orders and purchasing PPE and sanitation supplies necessitated by the pandemic; and COVID-19 related business improvements like patio heaters or contactless technology. Grants are up to $5,000. 

Applications open January 11.
Barstool COVID Grant

Eligible small businesses in need of help due to the impacts of COVID. Small business owners must still be paying their employees and explain what the funds would be used for, such as paying bills or employees.

Applications open NOW.
SBA PAYCHECK PROTECTION
PROGRAM (PPP) BACK OPEN
PPP will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on January 11 and Second Draw PPP Loans on January 13.

Key updates include: (1) PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs; (2) PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures; (3) eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations; (4) provides greater flexibility for seasonal employees; (5) certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan. A borrower is generally eligible for a Second Draw PPP Loan if the borrower: (a) previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses; (b) Has no more than 300 employees; and (c) can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
DOES YOUR BUSINESS NEED FINANCING?

Loan fund can be used for:

  • Machinery and equipment
  • Working capital (term up to 7 years)
  • Furniture and fixtures
  • Real property (term up to 15 years)

Minimum loan amount: $10,000
Interest rate: 4%
Eligible for profit businesses must employ less than 50 persons
Gross revenue: less than $1 million

This is an Equal Opportunity Program. For more information, please contact Carol Calabrese at 518-873-9114 or ccalabrese@essexcountyida.com
What do my financial statements tell me? Webinar January 13, 2021 at 5:30PM

Knowing your small business financial position is extremely important. Are you staring at a bunch of numbers and don't really understand what you're looking at? What are the KPI's (key performance indicators) that you should be focusing on? Let's change that! The three fundamental financial statements for most businesses are the Income Statement (also called a Profit & Loss Statement), the Balance Sheet, and Statement of Cashflow. The information in those reports serves as the roadmap to tell you how healthy your business is, where it’s been, and where it’s heading.
Restaurant Survival Strategies Webinar
January 13, 2021 at 9:00AM

The SUNY Canton Small Business Development Center (SBDC), the North Country Chamber of Commerce and The Hoffman Eells Group CPAs are teaming-up to help restauranteurs and foodservice providers.

The virtual event will take an in-depth look at how to run a successful restaurant during the pandemic. Consider innovative ideas to attract and keep customers, along with a back to basics look at using financial numbers to accelerate your profits and generate cash flow.
Moving from Surviving to Thriving in 2021 Webinar January 14, 2021 at 10:00AM

2020 was all about surviving, getting through, and waiting for better days to come. Now that recovery is in sight plans can and should be made for what comes next. Join us for an informative webinar that will help you assess your current financial position and develop strategies to move forward in the New Year.

Position your business for success in 2021 and beyond – setting goals, adapting to change, building cash reserves, examining markets for your products and services, evaluating future needs, outreach to current customers and vendors.
Essex County IDA | www.essexcountyida.com