APPLY FOR BENEFITS

As a public organization, we work hard to assist in the economic development of Broome County. We have two separate entities designed to accomplish this purpose, the IDA and the LDC.

To apply for financial assistance, you must first complete an application to be considered by our staff and board of directors.

Select an application by clicking on the appropriate button below. This will download a PDF document with step-by-step instructions and the application.

#THRIVENOW

COVID-19 RESOURCES

Stay updated on economic resources for Broome County during the current Corona virus situation.

Posted on Mar 16th, 2020

Highlight/Resources for Businesses affected by Covid-19

There are a number of local, State and Federal resources to help guide businesses during the current economic slowdown brought on by the Coronavirus pandemic. We will update these resources as more information and additional programs become available. The Small Business Administration has created a guidance page for businesses, it...

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INCENTIVES

EMERGENCY INCENTIVES AND FINANCING

IDA

COVID-19

EMERGENCY LOAN FUND

  • Principal and interest payments (P&I) will be waived for 12-months (*after the 12-month deferral period interest rate will be 75% of the prime rate*)
  • No application or closing fees
  • 10% equity requirement waived
  • Expedited closing process
  • Expedited loan review process to include the following:
  • Authorized Credit Check
  • Financial Documentation Review:
  • Most Recent Tax Return
  • Draft or preliminary year-end financials for 2019
  • List of current debt
  • Additional documentation may be requested
  • Non-profit organizations are not eligible*

Funds originated out of our STEED Loan Program can also assist businesses in the following counties: Broome, Chenango, Cortland, Delaware, Otsego, Schoharie, Tioga and Tompkins.

*Non-profit organizations should reach out to the Small Business Development Center (SBDC) to discuss the SBA Emergency Injury Loan Fund. https://covid19relief.sba.gov/#/

Email completed applications to nca@theagency-ny.com.

Interested businesses should contact Tom Gray at (607) 584-9000 or tmg@theagency-ny.com.

Click here to submit a completed application online.

COVID-19 NEWS

LATEST ECONOMIC NEWS ON COVID-19 IN BROOME COUNTY.
  • Posted on Apr 03rd, 2020

    UPDATED: RESILIENCY TOOLKIT FOR BROOME COUNTY BUSINESSES: HELPING BUSINESSES IMPACTED BY COVID-19

  • Posted on Mar 31st, 2020

    SBA Paycheck Protection Program Details

  • Posted on Mar 31st, 2020

    Agency establishes COVID-19 Emergency Loan Fund

  • Posted on Mar 26th, 2020

    SBA Express Bridge Loan

  • Posted on Mar 20th, 2020

    “Essential Business” Guidance

    ASSISTANCE