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Friday, March 13, 2015

A program designed to help small businesses get started or grow is offering deferred loans of up to $20,000 through the Greater Lockport Development Corporation.

The program aims at spurring small business growth in downtown Lockport through the microenterprise program, injecting as much as $200,000 into the downtown business community.

The deferred loans must be matched by recipient businesses. At least half of the businesses supported by this program must be startups. And recipients will be required to work with the Small Business Development Center to develop a business plan and attend a training series.

“In order for us to receive funding for these programs, we go through a rigorous and competitive application process,” said GLDC Vice President of Business Development Brian Smith. “We worked hard to be awarded this $200,000 to support new and growing small businesses in downtown Lockport. In turn, this program is going to be competitive as well.  We are fortunate that there are a lot of businesses looking to expand or plant their roots here in Lockport.

"The business owners who put together the most compelling applications are the ones that will receive funding,” Smith said.

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