| Coronavirus Aid, Relief, and Economic Security (CARES) Act Revolving Loan Fund is a new economic recovery loan program, created by the Economic Development Administration under the U.S. Department of Commerce, designed to alleviate sudden and severe economic dislocation caused by the coronavirus (COVID-19) pandemic. It will provide permanent resources to support economic resiliency and further the long-term economic adjustment objectives of the Mohawk Valley region. CARES ACT REVOLVING LOAN FUND GUIDELINES: Eligibility · Small businesses and non-profits · Must be located in Fulton, Herkimer, Montgomery, Oneida, Otsego or Schoharie counties. Loan Amount · Up to $200,000. Payment Schedule · Loans up to 60 months. · Months 1-12, principal payments only. · Months 13-60, principal and interest payments. Interest Rate · 0% interest for months 1-12, principal payments only. · 2.44% interest rate for months 13-60. Use of Proceeds · Working Capital (inventory, taxes, utilities, rent, payroll, mortgage payments, supplies and all COVID-19/social distancing expenses). · Any necessary expenses for responding to economic injury as a result of coronavirus. Borrower Fee
Mohawk Valley Rehabilitation Corporation (MORECO) Affiliated with Mohawk Valley Economic Development District, Inc. 26 West Main Street, PO Box 69, Mohawk, NY 13407-0069 Phone: 315.866.4671 Email: Website: mvedd.org |
Helping CNY Get Back To Work
The Workforce Development Board, Herkimer, Madison, and Oneida Counties, Inc. (WDB HMO), DBA Working Solutions, is part of the Public Workforce System, a network of federal, state, and local offices that support economic expansion and develop the talent of the nation’s workforce.
Job Search
Online resources and personal assistance by Advisers at the Working Solutions centers combine to help you maximize the tools needed for an effective job search.
Contact Us
Learn more about what Working Solutions can do for your business.
Working Solutions
209 Elizabeth Street
Utica, New York 13501
Equal Opportunity Employer/Program. Auxiliary aids and services are available upon request to individuals with disabilities.


