Ithaca Urban Renewal Agency Economic Development Loan Fund
Low-interest City of Ithaca loans for small businesses and projects that create or retain jobs for low- and moderate-income residents.
About this program
The Ithaca Urban Renewal Agency Economic Development Loan Fund provides financing for eligible business projects in the City of Ithaca that create or retain permanent jobs, with a priority on jobs available to low- and moderate-income residents. Loan proceeds may be used for fixed assets, leasehold improvements, machinery and equipment, working capital, and other eligible costs tied to business development and job creation. The fund is administered by the IURA and uses federal community development resources, so projects must meet applicable public benefit and documentation requirements.
Eligibility
Businesses and project sponsors in the City of Ithaca that need financing for eligible business development costs and can create or retain permanent jobs benefiting low- and moderate-income people.
Requirements
- Operate or propose an eligible business project in the City of Ithaca
- Use funds for eligible fixed assets, equipment, leasehold improvements, working capital, or related business development costs
- Create or retain permanent jobs as required by the program