The funding was announced as part of $420,000 in federal funds being allocated through the Economic Development Administration for the promotion of public-private partnerships to diversity and strengthen regional economies in New York.

Southern Tier West serves Allegany, Chautauqua, and Cattaraugus counties.

A group of local, state and federal officials gathered in September 2020 to announce the County IDA had received $10.5 million from the U.S. Economic Development Administration to provide funding for low interest loans to assist businesses and organizations impacted by the COVID-19 pandemic. From left to right: Assemblyman Andrew Goodell; Joel Frushone, EDA Director – Office of External Affairs; Anthony Foti, Intergovernmental Affairs Director – U.S. Department of Commerce; Richard Dixon, CFO – County of Chautauqua Industrial Development Agency; Congressman Tom Reed; Senator George Borrello; County Executive Paul Wendel; Mayor Wilfred Rosas; Crystal Surdyk, Interim Director of Development for the City of Jamestown; Michael Metzger, Chairman of the Board for the CCIDA and VP for Finance and Administration at SUNY Fredonia.

JAMESTOWN – The Chautauqua County Industrial Development Agency (CCIDA) has released another round of low-interest loans for local businesses impacted by COVID-19. Funding for the loans comes from the federal CARES Act and is administered by the U.S. Economic Development Administration (EDA).  In September 2020, the CCIDA was awarded a $10.5 million grant from EDA to establish a new Revolving Loan Fund (RLF). The intent of the RLF is to provide capital, in the form of low-interest loans, to both businesses and non-profit organizations as a means to respond to economic injury resulting from the COVID-19 pandemic.

The IDA board awarded the first round of loans – totaling $5.7 million – in October 2020. The second round of loans totaling $2.6 million was awarded on Tuesday. Pursuant to the guidelines of the program, loans have been approved in the following sectors: manufacturing/warehousing; not-for-profits; retail/commercial/agriculture; small business; and tourism/hospitality. Approximately 110 new jobs are to be created as a result of the funding allocated to date.

Loan recipients for the second round include:

• The Service Manufacturing Group, Inc.;
• Monofrax, LLC;
• Dahlstrom Roll Form;
• the National Comedy Center;
• Southern Tier Environments for Living, Inc.;
• Kosciuszko Polish Home Association, Inc.;
• Reg Lenna Theater;
• Cleaners of Chautauqua, Inc.;
• Falconer Power Sports, Inc. dba Harley Davidson of Jamestown;
• Lynn Development, Inc.;
• Ready About Sailing, Inc.;
• Rocky’s Karate;
• MKJM, LLC dba The Landmark;
• Scott’s Peek n’ Peak, LLC;
• Maple Springs Inn;
• and Lidos Crescent Inn, Inc.

“We are thrilled that, as of this date, we have been able to allocate more than 80% of the funding provided by the EDA in less than five months, and in the process help more than 40 businesses to not only endure, but create jobs,” said Mark Geise, CCIDA Chief Executive Officer. “Our incredible team at the CCIDA has worked diligently to get this money out working in the community as quickly as possible, while ensuring that we are responsible, impartial, and address the EDA’s guidelines.”

As part of EDA’s CARES Act Recovery Assistance, the EDA invited select current recipients of existing EDA-funded Revolving Loan Fund (RLF) awards, including the CCIDA, to apply for a supplemental RLF award to help respond to the unusual and compelling urgency of the coronavirus pandemic. EDA had determined that CCIDA, by virtue of its longstanding and substantial investment in making credit available to small businesses, possessed unique abilities to support the CARES Act Recovery Assistance initiative and that it was therefore in the public’s best interest to make this award available on a non-competitive basis.

A third round of loan funding is scheduled to take place later this year. The CCIDA Board will make a decision on Round 3 funding requests on April 27, 2021, with the application deadline being March 1, 2021.

Geise stated that the application and program details are available upon request, and urges anyone interested in applying to contact the CCIDA office at 716-661-8900.

On Sept. 9 local, state and federal officials announced $10.5 million in federal funding to assist businesses in Chautauqua County during the COVID-19 pandemic. From left to right – Assemblyman Andrew Goodell; Joel Frushone, EDA Director – Office of External Affairs; Anthony Foti, Intergovernmental Affairs Director – U.S. Department of Commerce; Richard Dixon, CFO – County of Chautauqua Industrial Development Agency; Congressman Tom Reed; Senator George Borrello; County Executive Paul Wendel; Mayor Wilfred Rosas; Crystal Surdyk, Interim Director of Development for the City of Jamestown; Michael Metzger, Chairman of the Board for the CCIDA and VP for Finance and Administration at SUNY Fredonia.

JAMESTOWN – The Chautauqua County Industrial Development Agency has allocated more than half of the federal CARES Act money it recently received to assist businesses throughout the county during the COVID-19 pandemic.

In September, The U.S. Economic Development Administration (EDA) announced the county IDA was selected to receive a $10.5 million grant to establish a new, low-interest Revolving Loan Fund (RLF). Both businesses and non-profit organizations are allowed to apply for the funding as a means to respond to economic injury resulting from the COVID-19 pandemic.

As currently established, the new RLF provides loans of no less than $25,000 and not to exceed $1 Million, and working capital loans of up to $250,000, with an interest rate of 2.44% (the lowest allowed).

The first round of funding – totaling more than $5.7 million, was awarded during the Tuesday IDA board meeting – going to 28 businesses and non-profit entities.

Of the 28 loan approvals, six of them covered more than half the total amount being borrowed:

• $700,000 to SKB Auto Sales (Fredonia)
• $646,650 to Big Inlet Brewing (Mayville)
• $500,000 to Cockaigne Resort (Cherry Creek)
• $494,460 to Artone (Jamestown)
• $375,000 to Heritage Ministries (Gerry)
• $375,000 to Advanced Production Group (Dunkirk)

The remaining loans were as follows:

• $322,000 to Luscombe Aircraft Corporation (Jamestown)
• $250,000 to La Quinta/ Holiday Inn Express/ Hampton Inn (Jamestown)
• $227,000 to Pace’s Pizzeria (Jamestown)
• $200,000 to Webb’s Candies, Inc./ Webb’s Motel Inc. (Mayville)
• $182,183 to Kimbert Manufacturing dba Barton Tool Inc. (Falconer)
• $125,000 to Ark Wholesale, LLC (Fredonia)
• $125,000 to Brigiottas Farmland Produce & Garden Center Inc. (Jamestown)
• $125,000 to Corvus Bus & Charter, Inc. (Falconer)
• $125,000 to Excelco/Newbrook, Inc. (Silver Creek)
• $125,000 to Falconer Hotel, LLC (Falconer)
• $125,000 to International Ordnance Technologies (Jamestown)
• $125,000 to Pucci Carpet One Furniture & Bedding, Inc. (Fredonia)
• $115,000 to Shawbucks, Inc. (Jamestown)
• $125,000 to Webb’s Harbor Restaurant and Bowling Lanes, Inc. (Mayville)
• $87,500 to Bilicki Law Firm, PC (Jamestown)
• $85,000 to Skate Shop (Jamestown)
• $75,000 to The Original Crunch Roll Factory, LLC (Westfield)
• $41,000 to Merritt Estate Winery, Inc. (Forestville)
• $35,000 to Ivory Acres Weddings LLC (Frewsburg)
• $25,000 to Uhl Ventures LLC dba Servpro of Jamestown/Olean (Jamestown)

IDA Director Mark Geise reminds businesses that the application and program details are still currently available, and urges anyone interested in applying to contact the CCIDA office at 661-8900.

Assemblyman Andrew Goodell; Joel Frushone, EDA Director – Office of External Affairs; Anthony Foti, Intergovernmental Affairs Director – U.S. Department of Commerce; Richard Dixon, CFO – County of Chautauqua Industrial Development Agency; Congressman Tom Reed; Senator George Borrello; County Executive Paul Wendel; Mayor Wilfred Rosas; Crystal Surdyk, Interim Director of Development for the City of Jamestown; Michael Metzger, Chairman of the Board for the CCIDA and VP for Finance and Administration at SUNY Fredonia.

JAMESTOWN – The Chautauqua County Industrial Development Agency will receive $10.5 million in federal funding to set up a low-interest revolving loan fund to support local small businesses and non profits impacted by COVID-19.

The announcement was made this afternoon at the Chautauqua Harbor Hotel by Anthony Foti, Director of Intergovernmental Affairs at the U.S. Department of Commerce.  Foti said the funding being allocated by the Federal Economic Development Administration and comes from nearly $20 million in federal aid for the entire western New York region. He added that while other communities and counties across the region will also receive funding, the largest sum was given to Chautauqua County.

Also in attendance was U.S. Congressman Tom Reed, along with State Senator George Borrello, Assemblyman Andy Goodell, County Executive PJ Wendel, Dunkirk Mayor Willie Rosas, and Jamestown Development Director Crystal Surdyk, who was representing Jamestown Mayor Eddie Sundquist.

Reed explained the money will help to keep businesses open during a challenging and uncertain time.

“We were proud to support this grant because we care about all the businesses, non-profits, and entrepreneurs who have been severely impacted by the economic and public health effects of the COVID-19 pandemic,” said Reed. “By deploying the federal capital employers need to weather this crisis, we can ensure our local economy will rebound stronger than ever. Congratulations to CCIDA and the Chautauqua County team on their work to help the community and preserve local jobs.”

As for the details of the loan program, IDA Chief Financial Officer Richard Dixon said any small business in the county, including non profits, will be eligible to apply for funding, which will then have to be paid back at 2.4% interest.

“As part of the application process, CCIDA Staff created a detailed plan for deploying the funds in a way that provides flexibility for recipients as well as timeliness in deploying the funding in order to accelerate economic recovery within the County.  The newly-established RLF Program will be available to a wide-range of industry sectors, including professional services, non-profits, and other sectors that have previously been excluded from receiving CCIDA loan funds. As currently established, the RLF will provide loans of no less than $25,000 and not to exceed $1 Million, and working capital loans of up to $250,000, with an interest rate of 2.44%,” Dixon noted.

IDA officials say the application and program details are currently available by contacting their office at 661-8900.