{"id":33222,"date":"2020-05-14T13:15:24","date_gmt":"2020-05-14T17:15:24","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=33222"},"modified":"2020-05-14T13:15:24","modified_gmt":"2020-05-14T17:15:24","slug":"warren-county-local-development-corp-loan-program-helps-small-businesses","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2020\/05\/warren-county-local-development-corp-loan-program-helps-small-businesses\/","title":{"rendered":"Warren County Local Development Corp.Loan Program Helps Small Businesses"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">The Warren County Local Development Corp. has created a loan program to help small businesses recover from economic hardships due to the COVID-19 pandemic.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"> A total of $200,000 has been allocated for loans of up to $15,000 each with a 4 percent<span class=\"Apple-converted-space\">\u00a0 <\/span>interest rate. Repayment of a loan must be within four years, with loan payments deferred for the first two months, officials said. There is no prepayment penalty.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">To be eligible:<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>\u2022 <\/b>Applicants must be either sole proprietors, independent contractors, self-employed, or an LLC operating within Warren County. They cannot previously have received Payroll Protection Plan or other loans.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>\u2022 <\/b>Businesses must have 20 or fewer full\/part time employees.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>\u2022 <\/b>Loans may be used for working capital, payroll, rent, utilities, mortgage and monthly expenses.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>\u2022 <\/b>They must have been in business for at least two years.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><!--more-->There is no application cost, though a closing fee of up to $125 may be required.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Officials said the money can be used for working capital, payroll, pay roll, rent, utilities, mortgage and monthly expenses.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">It cannot be used for paying off existing debt, refinancing other loans, acquiring a position in a business, purchasing real property, buying personal equipment, investments, expansion of a business or personal expenses.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The loans can be for up to $15,000, though the board reserves the right under special conditions to undertake small variations to that amount. Loan payments (principal and Interest) will be deferred for first two months<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Fort more information contact Ed Bartholomew EDC Warren County, at &#x65;&#98;a&#x72;&#116;h&#x6f;&#108;o&#x6d;&#x65;&#119;&#x40;&#x65;&#100;c&#x77;&#99;&#46;&#x6f;&#114;g or at 518-761-6007.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Warren County Local Development Corp. has created a loan program to help small businesses recover from economic hardships due to the COVID-19 pandemic. A total of $200,000 has been allocated for loans of up to $15,000 each with a 4 percent\u00a0 interest rate. Repayment of a loan must be within four years, with loan [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Warren County Local Development Corp.Loan Program Helps Small Businesses - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2020\/05\/warren-county-local-development-corp-loan-program-helps-small-businesses\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Warren County Local Development Corp.Loan Program Helps Small Businesses - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"The Warren County Local Development Corp. has created a loan program to help small businesses recover from economic hardships due to the COVID-19 pandemic. 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Repayment of a loan must be within four years, with loan [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2020\/05\/warren-county-local-development-corp-loan-program-helps-small-businesses\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Glens Falls Business Journal\" \/>\r\n<meta property=\"article:published_time\" content=\"2020-05-14T17:15:24+00:00\" \/>\r\n<meta name=\"author\" content=\"Jake Van Ness\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Van Ness\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2020\/05\/warren-county-local-development-corp-loan-program-helps-small-businesses\/\",\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2020\/05\/warren-county-local-development-corp-loan-program-helps-small-businesses\/\",\"name\":\"Warren County Local Development Corp.Loan Program Helps Small Businesses - Glens Falls Business Journal\",\"isPartOf\":{\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#website\"},\"datePublished\":\"2020-05-14T17:15:24+00:00\",\"dateModified\":\"2020-05-14T17:15:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2020\/05\/warren-county-local-development-corp-loan-program-helps-small-businesses\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2020\/05\/warren-county-local-development-corp-loan-program-helps-small-businesses\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2020\/05\/warren-county-local-development-corp-loan-program-helps-small-businesses\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Warren County Local Development Corp.Loan Program Helps Small Businesses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#website\",\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/\",\"name\":\"Glens Falls Business Journal\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\",\"name\":\"Jake Van Ness\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/8083519989e12032abdd06a668982ef4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/8083519989e12032abdd06a668982ef4?s=96&d=mm&r=g\",\"caption\":\"Jake Van Ness\"},\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/author\/jakev\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Warren County Local Development Corp.Loan Program Helps Small Businesses - Glens Falls Business Journal","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2020\/05\/warren-county-local-development-corp-loan-program-helps-small-businesses\/","og_locale":"en_US","og_type":"article","og_title":"Warren County Local Development Corp.Loan Program Helps Small Businesses - Glens Falls Business Journal","og_description":"The Warren County Local Development Corp. has created a loan program to help small businesses recover from economic hardships due to the COVID-19 pandemic. 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