Columbia Forward is a county-wide initiative to provide business support and financial assistance to small businesses.
The Columbia County Board of Supervisors is lending its support to a unique, new partnership between Columbia Economic Development Corporation (CEDC) and the Columbia County Chamber of Commerce (CCCC). The partnership was created to implement and manage a three-year program of grants and loans to assist Columbia County-based small businesses as well as local economic development committees.
The CEDC has committed up to $500,000 of funding for small business loans.
Columbia County received half a million dollars from its American Rescue Plan Act (ARPA) funding. The money will fund grants and loans for:
- $50,000 for grants to complement CEDC small business loan clients
- $450,000 to provide business support programs and technical assistance
Eligibility requirements to receive funds
There are certain eligibility requirements that businesses applying for a loan, including:
- A minimum of two years in business operating in Columbia County
- Credit-eligible business owners with 25 employees or less
Exceptions to these eligibility requirements will be granted on a case-by-case basis and must be approved by the CEDC Board of Directors Loan Committee.
Columbia Forward funds are available according to specific guidelines. Those guidelines are:
- Loans are available up to $25,000
- Grants will be equal to 10% of the approved loan amount, with a cap at $2,500 per borrower
- Funds can be used for the purchase of equipment and inventory, working capital, employee training, or other pre-approved purposes
- 75% interest rate
- Terms of repayment can be up to 10 years
- Loan approvals are subject to CEDC underwriting policies
How to contact us
We invite you to reach out and contact us for more information or to get more details about the application process:
Columbia County Chamber of Commerce – NY
1 North Front Street Hudson, NY 12534
Columbia Economic Development Corporation
One Hudson City Centre, Suite 301 Hudson, NY 12534