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Incentives & Programs :: Otsego County Micro-Enterprise Loan Fund
Otsego County Micro-Enterprise Loan Fund
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Use:
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Any type of businesses with 5 or fewer employees, located in the "Main Street" area of a municipality OR an Agribusiness
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Loan Amount:
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Range $5,000-$150,000
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Interest Rate:
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4%
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Term:
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3-5 years Working Capital
5-7 years Machinery/Equipment
10-15 Real Estate financing
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Project Minimum:
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The Micro Enterprise will lend up to 90% of the total project cost up to $15,000. For a total project cost greater than $15,000, the County will lend up to 40% of a project, bank financing of 50% and 10% equity required.
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Click here for program guidelines and loan application
The Otsego County Economic Development Department also offers free technical assistance and business development workshops. For further information please, contact our office.
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