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Monroe County offers working capital loans for small business

 Downtown Rochester skyline view.
Max Schulte
/
WXXI News
Downtown Rochester skyline view.

Monroe County is offering up to $25,000 in forgivable working capital loans for small businesses.

The loans can provide up to six months of assistance, and may be used to cover day-to-day expenses including payroll, rent and mortgage payments and utilities.

The loans will automatically convert to grants at the end of the affordability period and once all of the requirements are met.

County Executive Adam Bello says the grants are designed to help small businesses who suffered economic losses during the COVID-19 pandemic.

The program is funded by the federal government through the NYS Homes and Community Renewal agency.

Funding is limited and will be supplied on a first-come, first-served basis.

More information is available on the county’s website https://www.monroecounty.gov/planning-cdbg-covid. Also by calling 585-753-2000 or by emailing: cdgrants@monroecounty.gov

Randy Gorbman is WXXI's director of news and public affairs. Randy manages the day-to-day operations of WXXI News on radio, television, and online.