;

Start-up Capital Available Through New Grant Program

Assemblyman Will Barclay (R,C,I—Pulaski) today encouraged local businesses and entrepreneur hopefuls to apply for a new grant program administered by the USDA Rural Development office.

The new program, made available through the USDA Rural Development’s Rural Microentrepreneur Assistance Program, encourages microenterprises in rural areas to apply. The program will provide grants and loans, business-based training and technical assistance to small businesses that employ 10 or less. Up to $50,000 in grant or loan funding is available to qualifying microentrepreneurs who live in areas with a population of 50,000 or less.

“I want to encourage our local businesses out there to investigate and apply for this funding. With the job market being what it is, and unemployment rates at more than 8 percent this spring, many may wonder about becoming an entrepreneur or have already started down that path. This program has the potential to provide funding opportunities that would enable start-up businesses to get off to a strong start, give existing businesses some financial stability, or the ability to pursue new ventures,” said Assemblyman Will Barclay (R,C,I—Pulaski).

Applications will be accepted throughout the year and awarded on a quarterly basis. For fiscal year 2010, applications must be received by July 16, 2010. The total amount available in fiscal year 2010 is $45.1 million. Of this, $36.2 million will be available for loans, $7.6 million will be available for microlender technical assistance grants, and $1.3 million will be available for technical assistance-only grants. More information on how to apply for funding is available at http://edocket.access.gpo.gov/2010/pdf/2010-13380.pdf

For questions concerning this program, please call the USDA Rural Development State Office, located in The Galleries of Syracuse, South Salina St., Suite 357, at (315) 477-6400 or TDD at (315) 477-6447. Businesses should also visit the New York State Department of Labor to learn about tax incentives, alternatives to layoffs and free services for small businesses. Onondaga county residents should visit www.cnyworks.com or call (315) 473-8250 and Oswego County residents should visit www.yourcareerconnection.org or call (315) 591-9040.