Factory Street Loan Program
The Watertown Local Development Corporation Board of Directors has approved a low interest loan program for businesses on Factory Street that will be impacted by the upcoming road construction project. The parameters of the loans will be as follows:
|Amount:||Up to $10,000|
|Term:||Up to 5 years|
|Uses:||Working capital for business|
|Maximum Loans per Applicant:||Two|
In order to qualify, the business owners send a letter of request to the Watertown Local Development Corporation explaining how the business has been impacted and the amount needed by the Factory Street Reconstruction Project. The business owner must sign an authorization for the WLDC to obtain a credit report. If the credit history is clean, the loan will be approved.
All loans must be used for valid business purposes.