Skip to main content
  • Home
  • About
  • Faculty Experts
  • For The Media
  • ’Cuse Conversations Podcast
  • Topics
    • Alumni
    • Events
    • Faculty
    • Students
    • All Topics
  • Contact
  • Submit
Business & Economy
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • University Statements
  • Syracuse University Impact
  • |
  • The Peel
  • Athletics
Sections
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • University Statements
  • Syracuse University Impact
  • |
  • The Peel
  • Athletics
  • Home
  • About
  • Faculty Experts
  • For The Media
  • ’Cuse Conversations Podcast
  • Topics
    • Alumni
    • Events
    • Faculty
    • Students
    • All Topics
  • Contact
  • Submit
Business & Economy

First Near Westside Initiative microloan to support new business creating eight jobs

Monday, May 23, 2011, By News Staff
Share
Communityentrepreneurship

The Near Westside Initiative (NWI) has approved its first microloan since launching an innovative micro-lending program in an effort to spur economic development on the Near Westside. The first loan, in the amount of $12,000, has been approved for the Montage Café, a trendy cafe with a French and Asian influence. Eight jobs are expected to be created when the business opens.

microloanThe NWI microloan program, open to entrepreneurs and existing businesses, was developed by NWI Deputy Director Michael Short in partnership with the CNY Community Foundation and Cooperative Federal Credit Union. The CNY Community Foundation provided $25,000 in seed money to launch the $100,000 program in February.

“Montage will be unlike any other café in Syracuse,” says Short, who also chairs the Neighborhood Business Association, which has grown to more than 50 members and experienced record turnout over five months. “This is yet another shining example of how our innovative, asset-based small business development strategy is gaining traction. The entrepreneurial renaissance underway in the neighborhood is a true testament to the power of strong partnerships and collaborative efforts.”

Montage Café, located at 219 West St., is expected to open June 11, and will serve world-class teas from Roji Tea Lounge, fresh roasted coffee, casual lunches and organic pastries. The café will also carry local wines and beers, and sake to be offered in the evening during RedHouse Arts events. The new café will be furnished with seating made with reclaimed materials and serve as an extended lobby to the Redhouse Arts Theatre at 219 West St., and soon-to-open SubCat music studios. The building also provides flex space for dance and rehearsal practices, yoga classes and zumba dance, and space for events for film and music. Construction in the building has been ongoing for two years, with the space being created specifically to promote and attract arts and music in downtown Syracuse.

While Montage Café is the first business to be approved for a microloan from the program, other budding businesses involving security, graphic design, landscape architecture, woodworking, audio production and cleaning services are in various stages of applying for microloans.

The NWI has the ability to grant microloans from a $100,000 loan pool to Near Westside businesses and entrepreneurs. The NWI’s microloan program is designed to be the final step in the initiative’s comprehensive small business and entrepreneurial development program, operated in partnership with Syracuse University’s South Side Innovation Center, the Small Business Development Center at Onondaga Community College and Syracuse SCORE. The NWI actively recruits neighborhood residents and businesses to enroll in the program.

The NWI Entrepreneurial and Small Business Development Program is directed toward a broad clientele of aspiring, new and existing entrepreneurs, low-income individuals and individuals with disabilities to help them establish profitable and sustainable businesses. The goal of the program is to help promote stability and growth, as well as increase productivity and profitability by helping individuals make informed decisions relating to their businesses.

For more information on the NWI microloan program, contact Michael Short at (315) 443-5402 or mwshort@syr.edu.

  • Author

News Staff

  • Recent
  • Syracuse University Libraries’ Information Literacy Scholars Produce Information Literacy Collab Journal
    Thursday, May 29, 2025, By Cristina Hatem
  • Trip to Atlanta Gives Falk Students ‘Real-World’ Opportunities and Connections
    Thursday, May 29, 2025, By Matt Michael
  • Syracuse Pride on Display: Limited-Edition Poster Supports Future Generations
    Thursday, May 29, 2025, By News Staff
  • Maxwell Advisory Board Welcomes New Leadership
    Thursday, May 29, 2025, By Jessica Youngman
  • Syracuse Stage Hosts Inaugural Julie Lutz New Play Festival
    Wednesday, May 28, 2025, By News Staff

More In Business & Economy

Syracuse University Libraries’ Information Literacy Scholars Produce Information Literacy Collab Journal

Earlier this month, Syracuse University Libraries’ Information Literacy Scholars published their first open access information literacy journal, Information Literacy Collab (ILC). It is available on SURFACE, the University’s open access institutional repository. ILC is a diamond open-access publication by and…

Trip to Atlanta Gives Falk Students ‘Real-World’ Opportunities and Connections

The city of Atlanta is home to professional sports franchises in major leagues: Atlanta United FC (Major League Soccer), the Braves (Major League Baseball), Dream (WNBA), Falcons (NFL), and Hawks (NBA). Atlanta also features professional teams in lacrosse, rugby, and…

Syracuse Pride on Display: Limited-Edition Poster Supports Future Generations

The third annual fiscal-year end poster campaign is a wonderful way to celebrate Syracuse pride, expand your art collection and make a meaningful impact on the Orange community. As a token of appreciation for their generosity, the first 500 donors…

Maxwell Advisory Board Welcomes New Leadership

A Maxwell School of Citizenship and Public Affairs alumna who has supported student and faculty excellence through volunteer service and philanthropy has taken the helm of the Maxwell Advisory Board. Cathy Daicoff  G’79 began her term as chair at the…

Michael J. Bunker Appointed Associate Vice President and Chief of Campus Safety and Emergency Management Services

Syracuse University today announced the appointment of Michael J. Bunker as the new associate vice president and chief of Campus Safety and Emergency Management Services following a national search. Bunker will begin his new role on July 1, 2025. He…

Subscribe to SU Today

If you need help with your subscription, contact sunews@syr.edu.

Connect With Us

  • X
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
Social Media Directory

For the Media

Find an Expert Follow @SyracuseUNews
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
  • @SyracuseU
  • @SyracuseUNews
  • Social Media Directory
  • Accessibility
  • Privacy
  • Campus Status
  • Syracuse.edu
© 2025 Syracuse University News. All Rights Reserved.