Walton flood loans approved by CWC

MARGARETVILLE, NY, October 4, 2006 - Four more flood relief loans for Walton businesses were approved by the Catskill Watershed Corporation Board of Directors Sept. 26.

Loan recipients include H&R Block, Klinger Power Sports, the Gary Grayson law office building and the owners of a building housing a physical therapy center run by SECO Industrial Rehabilitation for Delaware Valley Hospital.

An abbreviated loan process, deferral of loan payments for the first six months and waiver of fees and equity contributions are part of CWC’s special program to assist Walton business owners directly affected by devastating flooding that occurred June 29-30. To qualify for the loans, businesses must have suffered damage that prevented and/or seriously impeded normal operations.

In August, flood relief loans were approved for The Reporter Company and the Big M supermarket.

Standard, low-interest REDI Loans were approved at the Board’s September meeting for Margaretville Lodging, Masserson Holdings (The Roxbury hotel), and two Stone Ridge businesses, The Audi Shop and The Nibble Nook.

In other business the CWC Board voted to continue subsidizing half the salary of a Small Business Development Center counselor who helps Watershed business owners and entrepreneurs develop business plans and otherwise prepare for commercial success. The service is free and can be obtained by calling 845-339-0025.

The CWC is a non-profit local development corporation with the dual goal of protecting water quality and preserving communities in the West-of-Hudson New York City Watershed. For information on CWC loans, benefit programs and activities, go to www.cwconline.org, or call 845-586-1400, or toll-free, 877-928-7433.