IDA staff report $184,000 remaining in micro‑enterprise fund; three applications pending

Herkimer County Industrial Development Agency staff reported that $184,000 remains available in the agency’s micro‑enterprise assistance fund after initial drawdowns and that three applications are currently in process.

The update came during the agency’s regular meeting when staff said three applicants — identified in the packet as BiteMate, Wake and Bangle, and Sherprint — are under review. Agency staff advised outreach to local accountants and chambers of commerce to increase awareness of the program before remaining funds are committed.

Why it matters: the micro‑enterprise fund is intended to support small businesses through grants or low‑interest assistance. Agency staff said the three pending applicants are each requesting around $14,000 under the low‑to‑moderate‑income owner portion of the program, which would reduce the fund by roughly $45,000 if all are approved.

Staff also described recent successes tied to the agency’s BOA work and property improvements in downtown villages. Sherprint, which operates in Dallesville, was described as expanding into a second location and as a recent program applicant.

Staff said micro‑enterprise program funds are “drawdown” grants — the agency pays vendor invoices and then draws reimbursement from the grant source — and that processing times vary by grantor. Agency staff encouraged board members to promote the program and said training and a summer intern are possible ways to improve community outreach.

The board did not take a separate vote specifically to award these pending grants at the meeting; staff asked board members to encourage applicants and noted a program deadline for fund use of Oct. 11, 2025, for the current grant cycle.

Ending: agency staff said they will continue outreach and return to the board if and when applications require formal approval.