After the initial round of loans this Spring, there are still funds available for loans to businesses in need due to the strain of COVID-19. We are receiving numerous new loan applications, so if your business is at risk, don’t delay. Make your application today.
What is the COVID-19 Emergency Relief Program?
The COVID-19 Emergency Relief Program is a loan fund set up to provide zero-interest, 180-day (6 month) loans up to $10,000 to small businesses with 50 employees or less. The loans are intended to support operations and employment directly impacted by COVID-19. Loans that are unable to be paid at the end of the 180-day period will be converted into a 2-year loan at 3.0% interest.
There is no cost to apply. There are no closing costs, no filing fees, and no attorney fees charged by Operation Oswego County.
Who is eligible?
Commercial, for-profit entities that own or manage a business located within Oswego County and can provide evidence of a loss in sales, income, and/or cash flow within the last 60 days, or into the foreseeable future. This is a great program for restaurants, small manufacturers or tourism related businesses. A business is not eligible if it still has an outstanding balance from a previous COVID Emergency Relief Loan from either OOC or the City of Oswego.
Loan Collateral & Security
All individuals owning 20% or more of the business entity will be required to execute a personal guarantee.
How can businesses apply?
A new, simpler application is available online at www.oswegocounty.org. Follow the link to our COVID-19 Resources page.
For more information about the COVID-19 Emergency Relief Program, call OOC at 343-1545 or visit www.oswegocounty.org.