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IDA reports $150,000 remaining in microenterprise grant and lists applicants
Summary
Staff reported $150,000 remains in the microenterprise grant program and named five current applicants with two more expected; staff said outreach has been positive and that a program deadline may require an extension.
At the Herkimer County IDA meeting, staff updated the board on the microenterprise grant program, reporting remaining funds and current applicants.
The update matters because microenterprise grants support small local businesses and the agency’s remaining funds determine how many businesses can be assisted before the program ends.
Victoria, a staff member, told the board the program has a remaining grant amount of $150,000 and that she is working with five applicants: Wake and Bagel, Pineapple Salon, Stone Soup, Upstate Lawn Care, and Mother Goose Day Care. Victoria said she expects two additional applications and that some applicants are still finalizing materials. She noted that an administrator is on vacation this week, which may affect processing times, and that staff expect strong interest and that the remaining funds may not last through the program’s end without additional reimbursement sources.
No board action authorizing additional funding or changes to the program was recorded in the transcript. Staff indicated they will continue outreach and process completed applications.
