Chautauqua County is offering new rounds of low interest CARES Act loans to local businesses and nonprofit organizations.

The County of Chautauqua Industrial Development Agency will provide another round of low interest loans. This is meant to ease any economic impact caused by the COVID-19 pandemic.

Loans are between 25% and $100,000 with an interest rate of 2.44%.

"The Revolving Loan Fund (RLF) has been providing capital, in the form of low-interest loans, since its initial launch," a press release read. "The RLF Program was made available to a wide-range of industry sectors, including professional services, non-profits, and other sectors that had previously been excluded from receiving CCIDA loan funds. As currently established, the RLF will provide loans of no less than $25,000 and not to exceed $100,000, with an interest rate of 2.44% (the lowest allowed). Since the establishment of the RLF, the CCIDA has been able to assist more than 50 businesses and non-profit organizations in Chautauqua County, allowing them to remain in operation, thereby saving thousands of jobs and helping the local economy rebound."

Mark Geise, deputy county executive for economic development and CEO of the CCIDA stated that "we still have funding remaining from the initial award, and the application and program details are currently available." He urges anyone interested in applying to contact the CCIDA office at 716-661-8900.  

The funding comes from the initial federal CARES Act award.