Loans & Grants

LEWIS COUNTY ECONOMIC DEVELOPMENT SERVICES 

LEWIS COUNTY SMALL BUSINESS REVOLVING LOAN FUND

OUTSIDE LOANS

DEVELOPMENT AUTHORITY OF THE NORTH COUNTRY (DANC) LOAN PROGRAM

  • Program Description: Loan fund for Manufacturing, Warehousing & Distribution, Industry, Infrastructure, & Selected Agriculture Projects
  • Funding: Max. of 50% of project costs
  • Minimum Requirements: Owner equity - 10%-20%

NORTH COUNTRY ALLIANCE (NCA) LOAN PROGRAM

  • Program Description: Loan fund for Eligible businesses for fixed assets and working capital.
  • Funding: $25,000 - $225,000; $75,000 for working capital. Max. of 40% of the project. 100 or fewer of employees.
  • Minimum Requirements: Owner equity - 10%- 20%; Working capital - up to 5yr.; Fixed assets - up to 15yr.
  • Informational Flyer on Loan: Regional Revolving Loan Fund

NORTH COUNTRY ALLIANCE WORKING CAPITAL LOAN PROGRAM 

  • Program Description:  Loan funds to provide up to 90% of the total project financing. 
  • Funding: Minimum of $25,000 and maximum of $75,000 at 5% interest rate
  • Fee: $100 Application Fee

NORTH COUNTRY VALUE-ADDED AGRICULTURE REVOLVING LOAN PROGRAM 

  • Program Description:  Funding for projects for the purpose of establishing, maintaining or expanding an agricultural operation, or for providing facilities and/or markets for the production, manufacturing, processing, warehousing, distribution or sale of crops, livestok and livestock products. 
  • Eligible Applicants: Individual, farm or small business having 100 or fewer employees
  • Funding: Loans cannot exceed 40% of the total project cost, or $250,000, whichever is less.  3% prime ineterst rate. 
  • Fee: $100 Application Fee
  • Informational Flyer: Value-Added Ag Loan Program

ADIRONDACK ECONOMIC DEVELOPMENT CORP (AEDC) LOAN PROGRAM

  • Program Description: Loan funds for business purposes except refinancing and down payments.
  • Funding: $100,000 max., or 40% of the project
  • Minimum Requirements: Owner equity - 10-20%

EMPIRE STATE DEVELOPMENT LINKED DEPOSIT LOAN PROGRAM

  • Program Description: Funding to help New York businesses obtain reduced rate financing so they can undertake investments to improve competition, expand markets, develop new products, modernize technolgies, introduce new equipment, and expand facilities. 
  • Funding: 2% normal subsidy, 3% EZ subsidy, ($2,000,000 max.)
  • Minimum Requirements: Manufacturing - 500 or less FTEs; Service - 100 or less FTEs; No start up businesses, certain service business, & non-EZ business

EMPIRE STATE DEVELOPMENT FINANCIAL ASSISTANCE 

  • Program Description: Financial Assistance For - Acquisition of land & buildings or machinery & equipment, working capital, employee training, expanding company's export opportunities, & productivity enhancement.
  • Funding: Direct loans and/or grants; Interest rate subsidies.
  • Minimum Requirements: For Manufacturers, Service Providers, Warehouses & Distributors, Research & Dev. Companies, Tourism/Destination Businesses, Minority/Women-owned Businesses. Incentives are generally made to create or retain employment.

NEW YORK BUSINESS DEVELOPMENT CORP (NYBDC)

  • Program Description: Loan fund for Manufacturing, Wholesale, Retail, Service Business
  • Funding: $50,000-$1,000,000; $2,500,000 with a second mortgage.
  • Minimum Requirements: Owner equity - 10%-20%: Bank - 40-50%; NYBDC 40%

GRANT PROGRAMS

NYS REGIONAL ECONOMIC DEVELOPMENT CFA GRANT PROGRAM 

A centerpiece of Governor Andrew Cuomo's strategy to jumpstart the economy and create jobs, ten Regional Economic Development Councils (REDCs) were put in place in 2011 to redesign the state's approach to economic development, replacing a top-down approach to economic development that did not recognize the unique resources and strengths of each of New York's regions.  The CFA process replaced multiple applications for economic development projects with a single application for state economic development resources from numerous state agencies, and institutionalized the role of the Regional Councils in identifying priorities for state resources.

NATIONAL GRID

National Grid’s Economic Development Grant Program maintains a strong focus on site development, urban revitalization, strategic marketing, and facilitating customer growth through infrastructure assistance, energy efficiency and productivity improvement. The Program reflects an increasing emphasis on sustainable development, the efficient use of existing energy infrastructure, and the strategic deployment of renewable generation technologies.

USDA

USDA offers loans, grants and loan guarantees to help create jobs and support economic development and essential services such as housing, health care, first responder services and equipment, and water, electric and communications infrastructure.  They work to promote economic development by supporting loans to businesses through banks, credit unions and community-managed lending pools. USDA offers technical assistance and information to help agricultural producers and cooperatives get started and improve the effectiveness of their operations.

 

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