At Operation Oswego Countyâ€™s (OOC) annual meeting last month, U.S. Department of Agriculture (USDA) New York State Director Jill Harvey announced that the County of Oswego Industrial Development Agency (IDA) was awarded $750,000 in funding through USDA Rural Development’s Intermediary Relending Program (IRP).
The IRP provides funds to organizations such as the County of Oswego IDA to establish a revolving loan fund used to finance business and economic development activity to create or retain jobs in rural communities. The revolving loan fund will be targeted to working capital, start-up costs, soft costs and equipment.
â€œWorking capital has been identified as a need within the business community, and this fund will be set up to meet that need as 50 percent of the fund will be targeted to working capital loans,â€ said L. Michael Treadwell, CEcD, OOC executive director and CEO of the IDA.
For more information about the IRP or other economic development services in Oswego County, call OOC at 343-1545 or visit www.oswegocounty.org.