Micro Enterprise Program

The Micro-Enterprise program provides opportunities for training & financing small business with 1-5 employees. For example:

  • In-depth Business Training for all program participants
  • Counseling assistance to develop your business plan
  • Working capital and start-up loans form $500 - $15,000
  • Special rental rates in the Business Expansion Center for new businesses.

The Micro Enterprise Training Program is a twenty-one hour course for prospective and existing small business owners who employ one to five employees including the owner. It includes training in the following areas: creating your own buisness plan, forms of ownership, taxes, record-keeping, legal issues, financing, marketing & personnel.

For more information, contact Linda Goodness at 315-343-3795 or email her at lgoodness@oswegony.org

.

Tuition: $200.00 per person includes texts and training materials.

Scholarships of $200.00 are available for income eligible participants and those currently receiving unemployment benefits. Scholarship applications are attached to the Micro Enterprise Program Application.

Income guidelines for Micro Scholarship

People in
household
Income
1
$32,150
2
$36,750
3
$41,350
4
$45,900
5
$49,600
6
$53,250
7
$56,950
8
$60,000

The Micro-Loan Program provides working capital and start-up funds for new and expanding businesses in the City of Oswego with 1-5 employees.

  • Loan Amounts are for $500 to $15,000.
  • Loan Terms are tailored to your business, the maximum term is 7 years.
  • Interest Rates are fixed between 3% and 6% APR for Community Development Office generated loans depending on income level. Participating banks have also committed capital funding for Micro Program Graduates at variable interest rates.

How do I apply for a Micro Loan?

An application and a Business Plan/Financing Proposal is required to apply for a Micro Loan through the Community Development office. The Business Plan must be developed with SBDC guidelines and in conjunction with the Micro Enterprise Training Program. (Existing businesses may request an independent study course to accommodate a business owners' schedule.) A loan application and financial documentation are also required.

For more information, contact Linda Goodness at lgoodness@oswegony.org