CORNING, N.Y. - The U.S. Small Business Administration has awarded $250,000 in new funds for startup and existing entrepreneurs in Chemung, Schuyler, Steuben, and Tioga counties to REDEC. On December 20, SBA Syracuse District Director Bernard J. Paprocki gave a presentation check to REDEC President George Miner at Cugini’s, an Italian café on Market Street that used an SBA microloan from REDEC to open in September.
“We are proud to be partners with REDEC in delivering valuable assistance in order to start and grow local small businesses,” praised SBA Syracuse District Director Bernard J. Paprocki.
REDEC was the most active microlender in the SBA Syracuse District for fiscal year 2016, with nine approvals valued at $156,719. SBA’s microloan program funds are used by intermediaries such as REDEC to make small loans from under $500 up to $50,000 for typical business purposes. The microloan program also provides business-based training and technical assistance to microborrowers to help them be successful at starting or growing their businesses.
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