Microenterprise Assistance Program Funding

New business start-ups or businesses with five or fewer employees may be eligible for low-interest financing, and State grant/loan funding.

Program Description

The Greene County MAP, administered by the Greene County Department of Economic Development, Tourism and Planning, assists in the establishment and expansion of small businesses that are start-ups or are in business and have five or fewer employees, one of which is the owner, and the creation of new jobs through business training, funding and technical assistance.

All business sectors – including manufacturing, retail, services, agriculture and tourism – are eligible for the program, which is open to:

Start-Up Businesses

These businesses must be owned by low and moderate income persons directly, and/or be businesses that will create additional jobs, the majority of which must be taken by or made available to low and moderate income persons.

Existing Businesses

Eligible businesses must have five or fewer employees, one of whom is the owner of the business. The business must either be owned by low and moderate income persons and/or create one or more new jobs, the majority of which must be taken by or made available to low and moderate income persons.
Amount Available:
Up to $25,000.
Minimum Equity Infusion:
10%. MAP funds may be used to fund up to 90% of the total project cost.

Interest and Terms

Loans:

The interest rate for Greene County loans is 1⁄2 prime rate + 1%. The current rate is 2 3/4%. Loan terms may extend for up to five years.

Funding is continuously available through the County’s Revolving Loan Fund as long as there is money available. Completion of a satisfactory County Master Loan Application is required, along with County approval. Completion of a business training class is strongly encouraged, particularly for business start-ups and businesses with limited experience.
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Microenterprise Assistance Program Funding
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