LeRoy EDA offers forgivable loans to businesses affected by Hwy. 56 construction

Posted: May 2, 2024

The LeRoy Economic Development Authority (EDA) is offering forgivable micro-loans of up to $250 to businesses directly affected by the Highway 56 construction project.

The goal of the micro-loan program is to help businesses mitigate the impacts of road construction in front of their door, which may cause access and other customer service-related challenges.

How to use the loan

The micro-loan can be used for activities, such as marketing, promotions, beautification efforts or any other creative endeavor that helps attract customers and sustain business during the construction period, which is expected to last through October.

“We know that this construction will have an impact on business operations, and we’d like to offer some assistance to LeRoy businesses, whether it be advertising costs, a special promotion, a pop-up shop or entertainment to help ensure customers keep going to the business during construction,” says Allison Whalen, Community Economic Development Association.

Eligibility criteria

To be eligible for up to $250 in assistance, businesses must be registered and located within LeRoy city limits and directly affected by Highway 56 construction. Applications will be evaluated based on creativity and innovation of the proposed initiative, potential impact on attracting customers or sustaining the business during construction, feasibility and realistic implementation plan.

How to apply

Interested businesses can download the application below:

The application period closes on Aug. 1 at 4 p.m. Applications will be reviewed and approved or denied at LeRoy Economic Development Authority meetings on May 20, June 24, July 22 and Aug. 26. Applicants will receive notification shortly after the meeting in which their application was reviewed. Projects funded by the micro-loan must be completed by Oct. 31

Direct questions to Whalen at  or by calling 507-993-8688.

 


Most Recent Posts

Jun 8, 2024

May 29, 2024

Email Marketing Graphic with paper airplane, computer screen, and a cell phone

Subscribe for Updates

Get email notifications when any city alert and/or news article is published to our site.