County finalizes microenterprise grant program and details loan‑fund partnerships
Board reviewed a microenterprise grant program to award up to $25,000 per eligible business paired with a $15,000–$20,000 loan; staff described loan terms (about 7.75%) and a proposed partnership where Hudson Development Corporation could refer clients and share interest revenue.
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Staff said the microenterprise grant program, which the board held a public hearing on at a prior meeting, is ready for state submission. The program offers up to $25,000 in grant money to qualifying businesses (five employees or fewer) and typically is packaged with a $15,000–$20,000 loan to address working capital needs.
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