NEWS
Rapid Recovery Microloan Program Available for Flood-Impacted Businesses
Greene County Economic Development Corporation (GCEDC) is partnering with Columbia Economic Development Corporation (CEDC) to provide financial resources to eligible flood-impacted small businesses in both Greene and Columbia counties through the Rapid Recovery Microloan Program.
CATSKILL, N.Y. – Greene County Economic Development Corporation (GCEDC) is partnering with Columbia Economic Development Corporation (CEDC) to provide financial resources to eligible flood-impacted small businesses in both Greene and Columbia counties through the Rapid Recovery Microloan Program.
The program offers expedited five-year microloans of up to $15,000 at a 3.75% interest rate to help businesses recover from recent flooding, stabilize operations, and fund critical repairs. Small businesses that have experienced physical damage, business interruption, or other flood-related financial hardships may be eligible for financing designed to bridge the gap while insurance claims, state assistance, or other recovery resources are being pursued.
"Our local businesses are resilient, but recovering from a disaster often requires immediate access to capital," said James Hannahs, Executive Director of the Greene County Economic Development Corporation. "We're grateful to partner with CEDC to make this emergency financing available to eligible businesses in Greene County."
"CEDC stands ready to support the businesses that drive our regional economy," said Jonathan T. Spampinato, President and CEO of Columbia Economic Development Corporation. "We understand that cash flow disruptions and unexpected repair costs can threaten the viability of even the strongest businesses following a natural disaster. Our goal is to provide fast, accessible financing that helps business owners recover, rebuild, and emerge from this challenge stronger than before."
Eligible businesses interested in learning more or applying for assistance should contact Columbia Economic Development Corporation by emailing Loans@columbiaedc.com or calling (518) 828-4718.
About Greene County Economic Development Corporation
The Greene County Economic Development Corporation works to strengthen Greene County's economy by supporting business growth, attracting investment, and advancing initiatives that create jobs, encourage entrepreneurship, and foster long-term economic vitality.