Saugerties village considers loans for businesses hurt by Covid-19

The coronavirus shutdowns have hurt local businesses and the Village Board is taking steps to assist them through a loan program.

Trustee Jeannine Mayer spoke about the proposed program at the regular Village Board meeting on Monday, February 1. It would allow businesses to borrow money for “general business obligations” such as payroll, mortgage, utilities and supplies. Loans would range from $2,000 to $75,000 at a rate of 1.5 percent for terms of up to five years. Recipients would have one year with no payments, and interest does not accrue in that time, Mayer said.

“I think . . .


This page can be viewed only by subscribers.

Have an e-subscription or Hudson Valley One Premium membership? Log in

Advertisement

Not yet a subscriber? Sign up here.