A boost to Broome's small business

By Matt Porter

February 28, 2013 Updated Mar 1, 2013 at 12:14 AM EDT

Binghamton, NY (WBNG Binghamton) There's new opportunity for small businesses in Broome County.

County Executive Debbie Preston announced a new $200,000 fund for small business in the county.

The grant comes from a state housing fund and is part of a series of awards to several counties across the state.

The money's designed to provide "micro-financing," or small awards amounting to between $5,000 to $35,000 to help local business.

"Here in Broome County we are home to hundreds of small businesses that provide us with outstanding products, important services, and also rewarding jobs. But we need more jobs, more small businesses, and we need our current small businesses to continue to grow," Preston said.

To be eligible for a grant, applicants must put down at least 10 percent of the requested costs.

Binghamton and the Town of Union are ineligible because they have their own development grants.