Regional agency has pandemic loans available

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The Mohawk Valley Economic Development District Inc. has been awarded $3 million from the US. Economic Development Administration through the Coronavirus Aid, Relief, and Economic Security, or CARES, Act Recovery Assistance Program, and will provide a revolving loan fund for small business and non-profits harmed by the coronavirus pandemic, the organization announced this week.

The fund provides low interest loans to small businesses and non-profits located within Montgomery, Fulton, Herkimer, Oneida, Otsego, and Schoharie counties. Loans may be used for payroll, rent or mortgage payments, utilities, or expenses relating to COVID-19 social distancing measures, or any necessary expenses for responding to economic injury due to coronavirus.

To apply or for additional information, go online to
mvedd.org.

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