OSWEGO – After the first credit round of the COVID-19 emergency aid program this spring, funds are still available for loans to companies in need due to the burden of COVID-19.
The COVID-19 Emergency Relief Program is a loan fund created to provide 180-day (six-month) interest-free loans of up to $ 10,000 to small businesses with 50 employees or fewer. The loans are designed to support operations and employment directly affected by COVID-19. Loans that are not payable after the 180-day period will be converted into a 2-year loan with 3.0% interest.
There are no costs for the application. There are no graduation fees, no registration fees, and no attorney fees charged by Operation Oswego County.
Eligible for this loan are commercial, for-profit companies who own or operate an Oswego County business and have evidence of a loss of sales, income, and / or cash flow in the past 60 days or for the foreseeable future. A company is not eligible if it has an outstanding balance from a previous COVID emergency loan from OOC or the City of Oswego.
Anyone who owns 20% or more of the business unit must issue a personal guarantee.
There’s a new, simpler application online at www.oswegocounty.org. Follow the link to the COVID-19 resources page.
For more information on the COVID-19 Emergency Relief Program, call the OOC at 315-343-1545 or visit www.oswegocounty.org.