SCHENECTADY, N.Y. (NEWS10) — Schenectady Mayor Gary McCarthy has announced the latest round of CDBG-CV Economic Recovery funding for small businesses in Schenectady. Applicants can apply online at the City of Schenectady’s website, or hard copies are available at City Hall.

Beginning in 2020, Schenectady has helped over 64 local small businesses with grants after Mayor McCarthy entered an agreement with the Community Loan Fund of the Capital Region Inc., for $200,000 of CDBG-CV funds. The Community Loan Fund of the Capital Region gives money to small businesses in grants to offer technical assistance training, workshops, virtual seminars, and financial and soft skill development.

“The COVID-19 pandemic and subsequent economic shutdown has devastated communities across the country,” Mayor Gary McCarthy said. “As we move away from the pandemic, businesses are still feeling the residual effects. This program is designed to support local small businesses impacted by the pandemic. I would like to thank the Community Loan Fund and our dedicated staff for their efforts to coordinate this critical relief funding.”

“The Community Loan Fund is pleased to assist the City of Schenectady as it pertains to distributing COVID-19 relief funds to small businesses in need,” said Linda MacFarlane, Executive Director of Community Loan Fund of the Capital Region, Inc. “The ongoing challenges for local entrepreneurs post-covid can be detrimental not only to their small business but the community at large. It is through programs like these with the City of Schenectady that will ensure the success of local small businesses for years to come!”