CANTON -- The Town of Canton has announced the launch of its COVID-19 Recovery Loan Program. The Program was designed to provide businesses located in the Town of Canton with short-term relief and access to working capital in response to the COVID-19 pandemic. This program will utilize USDA Rural Business Enterprise Grant funds, and will remain available at the discretion of the Town.

Small businesses and non-profits with twenty-five or fewer full-time equivalent employees (FTE) that have been in business for at least six months are eligible to apply. The Program may provide loans for the greater of $10,000, or $1,000 per FTE with a maximum of $25,000, and can finance working capital, and expenses (supplies, equipment, etc.) related to adherence to precautionary guidelines to protect against the spread of COVID-19. Loans are for a term of five years at an interest rate of zero percent (0.0%) with no payments for the first six months.

For more information or to request an application, contact Leigh Rodriguez, Director of Economic Development at lrodriguez@cantonny.gov.

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