The Ontario County Economic Development Corporation (OCEDC), in collaboration with Canandaigua National Bank & Trust Co., has launched the Expansion and Growth Loan for Enterprise (EAGLE Fund), a new initiative designed to support small business expansion and job creation across the county.
The EAGLE Fund provides loans ranging from $5,000 to $25,000 to eligible new and existing small businesses. Businesses in sectors such as manufacturing, retail, services, tourism, and agriculture can apply, provided they meet lawful business requirements. The loans, which carry a fixed interest rate of 2.50% and offer repayment terms of one to five years, can be used for various purposes, including purchasing equipment, remodeling buildings, training employees, and covering working capital.
“The EAGLE Fund is a vital resource for local entrepreneurs and small business owners looking to grow,” said OCEDC Executive Director Ryan Davis. “This program is a collaborative effort between OCEDC and Canandaigua National Bank to bolster our local economy and generate job opportunities for our community.”
Ginny Ryan, Senior Vice President and Director of Community Engagement and Communications at Canandaigua National Bank, emphasized the program’s importance. “This program will provide much-needed affordable funding to help business owners with numerous challenges,” she said. “As an independent community bank, we value local partnerships that deliver impactful solutions.”
Business owners interested in the EAGLE Fund can contact OCEDC at (585) 396-4460 or visit any Canandaigua National Bank branch in Ontario County for more information or to apply.
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