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Lockport development agency seeks to grant cash to microenterprises

Owners of microenterprises - businesses with five or fewer employees - in the City of Lockport are eligible to apply to the city for grants of up to $20,000.

Brian M. Smith, president of the city's Greater Lockport Development Corp., said Tuesday that the city has $200,000 in state funding available for the incentives.

The business applying must be able to pay 25 percent of the project cost itself, and the investment must benefit individuals of low to moderate income, which could include the business owner.

Eligible costs may include purchases of equipment, furnishings and inventory, working capital, employee training, professional and financing fees, marketing expenses and any other costs the city's review committee is willing to approve. However, construction or rehabilitation of space is not eligible.

 

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