Northern New York Newspapers
Watertown
Ogdensburg
Massena-Potsdam
Lowville
Carthage
Malone
NNY Business
NNY Living
NNY Ads
Wed., Oct. 22
SUBSCRIBE
Serving the community of Ogdensburg, New York
49°F
Related Stories

Potsdam considers small business micro-enterprise loan program

PREV
NEXT
ARTICLE OPTIONS
A A
print this article
e-mail this article

POTSDAM — The village is considering a micro-enterprise program that would give small grants to new or growing businesses.

The money would come from a portion of the $700,000 available for north country communities in the state’s Small Cities Community Development Block Grant program.

These funds were awarded to the region as part of last year’s New York Regional Economic Development funding package.

“They’re just now rolling it out to localities,” said Potsdam Planning and Development Director Frederick J. Hanss.

This $700,000 will be split among local communities, and Potsdam is trying to figure out the best way to use its portion.

The discussions are still in the early stages, and uses could include housing rehabilitation, assistance to first-time homebuyers, and water and sewer improvements.

Mr. Hanss said the village still needs to talk to business leaders to figure out whether they would be interested in such an initiative.

“I’ve been talking to folks around town a little bit about this, and there seems to be some interest in a microenterprise program.”

The village already issues loans to businesses through the Adirondack Economic Development Council. If the village creates a business grant program, it is possible the AEDC would administer that as well. Small grants could be used to supplement loans in some cases.

Mr. Hanss said the idea is far from a sure thing. “We’re a long way from making a decision about that,” he said.

The village needs to gauge whether the program would be the best use of the state funding. A public meeting will be held May 5 to solicit feedback. A time for the meeting has not yet been determined.

Commenting rules:
  1. Stick to the topic of the article/letter/editorial.
  2. When responding to issues raised by other commenters, do not engage in personal attacks or name-calling.
  3. Comments that include profanity/obscenities or are libelous in nature will be removed without warning.
Violators' commenting privileges may be revoked indefinitely. By commenting you agree to our full Terms of Use.
Giveaway
Syracuse Football Tickets Giveaway
Connect with Us
OGD on FacebookOGD on Twitter
Tuesday 's Covers