MERCHANT RESOURCES

Westchester County Business FIRST Grant Program

As “The Catalyst” for economic growth and vitality, Westchester County’s Office of Economic Development is offering a suite of innovative programs and resources to help our business and nonprofit communities recover.

 

The Westchester County Business FIRST initiative provides immediate support and financial assistance to entrepreneurs, businesses and nonprofits in the County that have been negatively impacted by the COVID-19 pandemic.

EIDL PROGRAM

The Economic Injury Disaster Loan program will advance up to $10K to a small business to provide economic relief to businesses currently experiencing a temporary loss of revenue.

 

This loan advance will not have to be repaid. 

 

Recipients do not have to be approved for a loan in order to receive the advance, but the amount of the loan advance will be deducted from total loan eligibility.

 

Applications currently being accepted.

COMMUNITY CAPITAL NY

Community Capital NY (a non-profit alternative lender) has an express Emergency Loan Fund for small businesses in Sullivan, Ulster, Dutchess, Putnam, Orange, Rockland, and Westchester.

 

Westchester County government is promoting this opportunity.

 

Loan terms are: up to $10K, 2% interest rate, 24 month term, and a 2% origination fee at closing.

 

Applications are currently being accepted.

NEW YORK FORWARD

New York Forward Loan Fund for NYS small businesses with fewer than 20 employees and revenue of $3M or less.

 

Fixed rate of 3% with a five-year duration.

 

Can be used for working capital. No collateral required.

 

Businesses fill out a pre-application and they are matched with a lending institution who provides a full application.

 

Applications currently being accepted.

IDA EMERGENCY LOAN FUND

County Exec George Latimer just announced that he has asked the County of Westchester Industrial Development Agency (IDA) to develop (with a partner lending organization) an Emergency Loan Fund that will issue loans of up to $25K and grants up to $10K. 

 

Application process details are forthcoming but Bronxville businesses should be aware that the total size of the fund is $500K, applications will be provided on a first come first serve basis and will be capped at 100 applications.

 

Businesses operating in distressed areas will be prioritized.

 

Grant funds must be used on PPE but not retroactively.

 

Loan funds can be used for any operating expenses.

Village of Bronxville Parking Information

Parking in Bronxville can be complex! The village of Bronxville has created a clear and concise parking map which includes information about parking for merchants. For information about permits for merchant parking please visit the Village website.