FOR IMMEDIATE RELEASE:
August 19, 2020
Contact: Rachel Welch
Think Dutchess Small Business Relief Fund Now Open
Applications are being accepted immediately.
Dutchess County, NY— In order to mitigate the impact the global pandemic has had on our small business community, the Think Dutchess Small Business Relief Fund is accepting applications. The loan fund offers a 36 month, zero percent loan up to $10,000 for small businesses in Dutchess County impacted by COVID-19. By promptly providing small loans to qualified Dutchess County businesses that have been unable to secure assistance from other relief programs.
The loan fund allows eligible businesses access to much-needed capital to retain jobs and reopen successfully. Business interested in applying must be located in Dutchess County, have ten or fewer full-time equivalent employees, and have not received other forms of relief including Economic Injury Disaster Loans (EIDL), Paycheck Protection Program (PPP), local emergency or similar loan programs.
“Dutchess County small businesses are facing unprecedented challenges as the after effects of mandated closures and capacity limits begin to prove their impact. Even as things return to normal, the impact of the coronavirus has placed many small businesses dangerously close to closing” said Sarah Lee, CEO of Think Dutchess Alliance for Business. “Despite remaining innovative and resilient, this loan fund allows us to provide our small businesses with the additional support they need to stay open and keep our friends and neighbors employed.”
Applications for the loan will be originated by Think Dutchess’ Community Development Financial Institution (CDFI), Community Capital New York. For questions, please contact Marilyn Yerks, CFO, at firstname.lastname@example.org.
About the Emergency Loans
Small Businesses in Dutchess County can apply for a Small Business Emergency Loan of up to $10,000, at a 0% interest rate with a 36-month repayment period. The loan can cover any emergency need that will help the organization stay solvent including salaries, rent, and other operating costs. Read more about the application requirements below.
How to Apply
Eligible small businesses can apply at https://thinkdutchess.com/dutchess-county-small-business-relief-loan/ where you will be redirected to our CDFI partner, Community Capital New York to complete the application. For more information about eligibility requirements download the Small Business Express Loan Fact Sheet HERE, or visit Community Capital New York at: https://communitycapitalny.org/dutchess-county-loan-program/.
About Think Dutchess
Think Dutchess Alliance for Business, formerly Dutchess County Economic Development Corporation, is the one-stop shop for business development needs and activities in Dutchess County, New York. A business-led, nationally recognized economic development corporation, Think Dutchess’ mission is to attract, retain, and expand for-profit and not-for-profit businesses in Dutchess County. Think Dutchess’ organizational structure includes programs in business retention, expansion and attraction; financial counseling and deal structuring; zoning and permitting; commercial real estate; innovation and technology; strategic marketing and municipal advocacy. For more information about Think Dutchess Alliance for Business, visit www.thinkdutchess.com
About Community Capital New York
A nonprofit lender for more than 30 years, Community Capital New York works to create a thriving, inclusive and equitable economy where all people have access to build wealth and prosperity for themselves, their families, and communities. As one of the only nonprofit, community-based lender exclusively serving Westchester and the Hudson Valley, they drive capital and resources to start-ups and small business owners typically excluded from current systems and to affordable housing development. Community Capital New York is an SBA-lender and a Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury. To learn more visit: https://communitycapitalny.org/