Otsego County Seeks Microenterprise Grant Applicants
Otsego County is accepting applications for grant funding from qualifying microenterprises to assist with business related activities and COVID-19 related impacts.
What is a Microenterprise (ME)? A microenterprise is business that employs or will employ five or fewer persons, including the business owner or owners.
What types of assistance is available? The purpose of the ME program is to provide financial assistance to qualifying existing, start-up businesses and entrepreneurs that will create or retain jobs, increase economic opportunity, assist with rent during COVID pandemic.
What are the eligibility requirements? To be eligible for assistance an existing or newly formed ME must meet low to moderate income test. The business owner(s), must be low-to-moderate in income or the majority of the jobs to retain and or create must be low-moderate-income jobs and/or available to low-to-moderate income persons.
How much can you apply for? The grant awards range from $3,000 to a maximum of $30,000 with a 10% equity match from the business owner(s).