PERRY — As the Finger Lakes region looks toward its economic reopening, two programs are aiming to help Wyoming County businesses prepare for the new reality.
The Re-Start Wyoming Loan program is being offered through the Wyoming County Business Center. It’s making $200,000 available to help small businesses affected by the statewide pause.
In the meantime, the Village of Perry is offering Perry Fresh Start program, offering similar aid for its own businesses.
“We recognized that some of the federal financing programs were not going to be the right answer for businesses, especially those that need capital to prepare to restart,” said Chairman Rick Fish of the Wyoming County Business Center Board of Directors in a news release.
Re-Start Wyoming will provide $1,000 to $10,000 to eligible businesses. They will pay zero percent interest over the first 12 months, with rate increasing to 2 percent for the loan’s remaining term.
Payment will be deferred for the first six months.
The funds can be used to modify existing businesses to adapt to new health restrictions. They may also financially support reopening once mandatory closure orders are lifted.
The funds can likewise be used for payroll support, rent assistance, utility payments, inventory replenishment, employee health care, and accounts payable assistance.
Businesses must be located in Wyoming County to be eligible. They also need to document that their business was harmed by COVID-19.
They cannot have received assistance from the Federal Paycheck Protection Program or an Economic Disaster Relief Loan.
Applications will be accepted through July 31 and reviewed in the order they were received. They can be downloaded at www.wycoida.org under the “Small Business Assistance” tab.
Those interested may also contact Pierce at (585) 786-3764 or email@example.com.
In the meantime, the Village of Perry is conducting the Fresh Start program.
The offers a limited number of zero percent loans of up to $4,800 payable over 48 months.
Loans will be available to help small businesses in payroll support, rent assistance, payment of utilities, employee health care, and accounts payable assistance.
“While there are several federal and state programs, funds for these were quickly committed and many of the smallest and most vulnerable of our businesses did not have an opportunity to apply for either the EIDL or PPP programs,” village officials said on the program’s website. “The goal is to help these local businesses cover expenses and position themselves for reopening in the near future.”
The village currently has about $120,000 in the fund, which has been used for its Business Improvement Loan program for about the past 10 years.
“We are not sure what demand will be,” said Village Administrator Matt Jensen. “The Village has authorized $25,000 for this initial posting anticipating that the amount can be adjusted based on demand.”
The first submission due date is 9 a.m. May 14. Application forms can be found on the village’s website at www.villageofperry.com.