Microenterprise Assistance Program


General Information 

Chemung County through Alternatives Federal Credit Union (Alternative FCU) is offering a Microenterprise Assistance Program (MAP) to support small businesses within the county (excluding the City of Elmira). 

This program is designed to assist with the creation and expansion of small businesses and foster job creation for low- or moderate-income individuals. 

What Assistance is Available?

Grant Amounts: Grants ranging from $10,000 to $25,000 are available to eligible businesses.

Grant Uses: Funds can be used for the following purposes:

  1. Machinery and equipment
  2. Furnishings and fixtures
  3. Inventory
  4. Operating costs and working capital expenses

Restrictions: Grants may not be used for:

  1. Construction
  2. Renovations
  3. Leasehold improvements
  4. Demolition

Equity Contribution: A 10% equity contribution from the business is required.

Who Can Apply?

Eligibility Criteria:

  1. Business Size: Must have five or fewer employees, one or more of whom must be owners of the business.
  2. Business Structure: Eligible businesses include sole proprietorships, partnerships, corporations, limited liability companies (LLCs), or other legal forms of business.
  3. Nonprofit Organizations: Nonprofits are not eligible to apply.
  4. Start-ups: Start-up businesses are encouraged to apply.
  5. Income Requirement: The business must either be owned by a low- or moderate-income person or, as a result of receiving the grant, create one or more full-time equivalent jobs for low-or moderate-income individuals.

Other Program Requirements

  1. Location: The business must be located in Chemung County, but not within the City of Elmira.
  2. Entrepreneurship Training: Before receiving a grant, the business owner must complete an entrepreneurship training course offered by Alternatives FCU. This course will be available once businesses are selected for the program.
  3. Business Plan: Applicants must submit a detailed business plan that includes: 
    1. Historical Financial Statements (if available)
    2. Financial Projects for the Business

Application Process

Application period has closed.