Watertown Economic Growth Fund
The Watertown Economic Growth Fund (WEGF) is a Revolving Loan Fund that provides loans to eligible businesses for fixed assets and working capital. The general terms of the loans are as follows: Working capital; up to 5 years. Fixed assets; up to 15 years. Interest rates are determined on an individual project basis.
Contact:
James Fayle at JCJDC (315) 782-5865
Eligibility Criteria
1. The project to be funded must be located within the Watertown City limits.
2. Limited to a maximum of 40% of the total project costs.
3. Bank participation of at least 50% of the project is preferred.
4. Equity participation of at least 10%.
5. All business sectors are eligible to apply.
Five (5) completed and
reviewed applications
are due the first day of the month and are reviewed by the board on the first
Thursday of the following month.
