The City of Syracuse, along with the Syracuse Economic Development Corporation (SEDCO), has announced the creation of a COVID-19 Emergency Relief Program targeted at small businesses within city zip codes. The fund, totaling $500,000 is designed to provide zero-percent, 180-day emergency loans in order to support immediate working capital needs. The City is prepared to offer loans up to $25,000 to applicants, with an average anticipated loan size of $10,000.
Small businesses that are experiencing negative and immediate effects from the COVID-19 outbreak, including reductions of customers, limits on public gatherings, and the closing of non-essential work sites are encouraged to apply for the emergency loan program. Applications will be reviewed and a response will be given to applicants within seven days after the submission date.
Applications are being accepted starting Monday, March 23rd via:
- SEDCO website: http://www.syrgov.net/sedco
- E-mail: business@syrgov.net
- By mail to: SEDCO; 201 East Washington Street, Syracuse, NY 13202
In addition, if absolutely necessary, applications can be dropped off at the Central Permit Office located at the same address. Drop-offs must be scheduled directly with the Central Permit Office.
The information and advice we are providing for this matter relates to COVID-19 legislative relief measures. Because legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that could modify some of the advice and information provided to you, after the conclusion of our engagement. We therefore make no warranties, expressed or implied, on the services provided hereunder.