Microenterprise Assistance Program (MAP)

Amount Available: Up to $25,000

Minimum Equity Infusion: 10%

Interest and Terms: IMPORTANT NOTICE

Greene County has received funding from the NYS Office of Community Renewal for the County to administer grants for eligible microenterprise businesses. Grants are now available on a first-come, first-served basis, as long as grant funds are available to the county. The maximum grant is $25,000, matching funds are required, job creation is required, and completion of a small business training class is required. Please make inquiry to determine if you would qualify and to complete our Master Loan Application.

Loans: Interest Rate is one-half of the current prime rate plus 1%. Loan terms may extend for up to five years. Funding is continuously available through the County’s Revolving Loan Fund as long as there is money available. Completion of a satisfactory County Master Loan Application is required, along with County approval. Completion of a business training class is strongly encouraged.

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Program Description

The Greene County MAP, administered by the Greene County Department of Economic Development, Tourism and Planning, assists in the establishment and expansion of small businesses that are start-ups or have five or fewer employees, one of which is the owner, and the creation of new jobs through business training, funding and technical assistance.

All business sectors – including industry, retail, services, agriculture and tourism – are eligible for the program, which is open to:

• Start-Up Businesses –These businesses must be owned by low and moderate income persons directly, and/or be businesses that will create additional jobs, the majority of which must be taken by or made available to low and moderate income persons.
• Existing Businesses –Eligible businesses must have five or fewer employees, one of whom is the owner of the business.  The business must either be owner by low and moderate income persons or create one or more new jobs, the majority of which must be taken by or made available to low and moderate income persons.

The MAP provides low-interest loans, and when available, deferred-payment loan funds, of up to $25,000 for job-creating projects in the County.  The MAP assistance requires a minimum cash infusion of 10% of the total project cost, and can be used for acquisition, renovation, working capital, furniture, fixtures, equipment or any other reasonable business expense.