Monroe County now offering 0% interest small business loans up to $10K

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(News 8 WROC file photo)

ROCHESTER, N.Y. (WROC) — Monroe County Executive Adam Bello announced Thursday the creation of an Emergency Small Business Assistance loan program to help local businesses affected by the COVID-19 outbreak.

“Our small businesses are suffering from the loss of working capital due to circumstances beyond their control, and it’s important we do all we can to help employers and their employees make it through this crisis,” Bello said in a press release. “By offering no-interest loans of up to $10,000, we are helping support the vital small businesses that serve as this region’s economic engine through their time of greatest need.”

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The program was approved Wednesday by the Monroe County Industrial Development Corporation. It offers zero interest loans of up to $10,000 in capital for qualifying businesses in retail, health care, restaurants, real estate, technology, personal/professional services, construction, manufacturers, and other small businesses with 50 or fewer full time employees.

Program instructions and applications are available now online. Applications can be submitted via email to mcplanning@monroecounty.gov, and also mailed to MCIDA at 50 W. Main Street, Rochester, NY 14614.

Officials say initial funding for the program is $500,000, but that amount may increase depending on demand.

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