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Tompkins County Area Development (TCAD) is introducing a short-term emergency relief fund for businesses in Tompkins County that have been impacted by the Coronavirus pandemic.  The Emergency Relief Loan Program (The Fund) will provide 3-year term loans to traded sector businesses whose customers are regional or national in scope (businesses who primarily sell products or services outside Tompkins County).

The loan will be for working capital to:
  • Prevent staff reductions
  • Allow business operations to continue
  • Offset losses related to the Coronavirus COVID-19


Loan terms:
  • Maximum amount offered for this 36-month loan is $50,000
  • Interest rate is 2.5%
  • Principal and interest payments are deferred for one year
  • There is no equity requirement

Eligible Borrowers:
Legally recognized forms of business, including sole proprietorships, partnerships, corporations, limited liability companies, limited liability partnerships, professional service corporations, not-for-profit corporations, and cooperatives.

Business must be located in Tompkins County, must provide evidence of loss in revenue or cash flow within the last 60 days, and must be currently operating, even if only remotely.

Eligible Loan Uses Include:
  • Working capital (including payroll coverage)
  • Inventory
  • Equipment
  • New marketing efforts
  • Other reasonable business expenses


The loan may not be used to pay off existing loans or debt.

There is no cost to apply. There are no closing costs and no filing fees.

Loans will be available until funds are committed or until October 1, 2020.

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