Business Loans, Services and Grants

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City of Rochester and Partners Offer Business Development Assistance 

The City of Rochester and its partners in job creation and retention support businesses with these programs:

U.S. Small Administration Loans

The U.S. Small Business Administration is offering low-interest Economic Injury Disaster Loans for businesses impacted by COVID-19 crisis. Loans up to $2 million in assistance are available per small business and can provide vital economic support to small businesses to help overcome the temporary loss of revenue.

The SBA is also offering an Express Bridge Loan authorizing SBA Express Lenders to provide small businesses with expedited SBA-guaranteed bridge loans of up to $25,000 while those small businesses apply for and await long-term financing. More information can be found on the SBA's About COVID-19 EIDL (sba.gov)  

Monroe County Emergency Small Business Support Program

In light of the COVID-19 outbreak in the United States, Monroe County has established a zero percent interest loan of up to $10,000 to support small businesses (50 or fewer full-time or full-time equivalent employees) impacted by the pandemic. More information can be found on the Monroe County, NY - Community Development COVID-19 Grant

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Business Assistance Programs

Learn about the low-interest loan and grant opportunities available for the purchase of equipment, materials, supplies and more, or to purchase, build or renovate property. Whatever your business need, we are certain to have a program to fill it. 

The City offers the following programs to assist businesses which are creating new investment and creating jobs for City residents. The business must be located within the City in a commercial building or re-locating within the City. Home-based and non-profit businesses are ineligible.   

Targeted Business Revitalization Grant Program - NEW*

* Program is currently being updated.            

  

Business Development Financial Assistance Program

Provides low-interest loans and grants for expansion projects. Eligible projects include purchase of machinery/equipment, acquisition, construction and/or renovation of real estate, and working capital. Loans will generally not exceed $250,000. Interest rates are fixed at either 1% or 3% depending on collateral provided. Loan terms are typically 5 years for machinery/equipment/working capital and 10 years for real estate. All loans must be secured and personally guaranteed by owners of 20% or more of the business.    

Neighborhood Commercial Assistance Program 

Provides small business grants for eligible retail and neighborhood service businesses which need capital for items such as advertising, furniture/fixtures/equipment, exterior signage, computers, architectural services, and security equipment (alarm systems, exterior lighting, security cameras). Start-up/New businesses (in business for up to 12 months) are eligible for up to $5,000. Existing businesses (in business for 12 months or more) are eligible for up to $8,000. All grants are reimbursement grants which requires reimbursement after the business expenditure has been made. Appropriate cost documentation is required.  

Request for 90-day Loan Payment Deferral 

Businesses that have current loans with the City of Rochester may request a 90-day deferral of loan payments. 

Kiva Rochester Crowdfunded Microloan Program

Kiva's mission is to provide capital for entrepreneurs who may have difficulty securing loans from traditional lending institutions. The program, involving a partnership with Kiva and the City, provides 0% interest/ no fee/36-month microloans to small businesses which may be startup or early stage businesses which require capital for growth. Loans are partially crowd-funded utilizing KIVA’s online platform. Borrowers can receive loans from $1,000 to $15,000 for eligible business expenses such as purchase of tools, equipment, office equipment, and working capital. Applications can be made online and paperwork requirements are minimal. Learn more at  cityofrochester.gov/kiva/ >>.

Rochester Economic Development Corporation (REDCO) Revolving Loan Fund

Provides financial assistance to new or expanding city businesses to stimulate private sector job retention and/or creation, investment within the city of Rochester and increases in the City's tax base. Eligible projects include furniture, fixture and equipment purchases, machinery acquisition, working capital and the acquisition, construction and/or renovation of real estate. Available assistance includes low interest loans up to $250,000 and interest rate subsidy grants. Interest rates are between 1 % and 3 %, with terms between 5 and 10 years. Learn more at REDCO | Rochester Economic Development Corporation (redcoroc.com)

Brownfield Assistance 

The objective of the Brownfields Assistance Program (BAP) is to attract businesses, developers, and investors who can develop and reuse underutilized land, while contributing to the City’s economic health. Learn more about  Brownfield Assistance>>.

Questions?

Let the City of Rochester help you navigate the programs and find the best fit for your situation.

Please submit an online request for assistance/information, or feel free to contact our office in person or via phone.

Online Request for Assistance Form 

Department of Neighborhood and Business Development
30 Church Street, Room 005A
Rochester, NY 14614
(585)428-6912