Program Description: Loan fund for working capital, equipment purchase, facility upgrades related to COVID-19.
Funding: $25,000-$150,000 loans at a fixed rate of 1.9% for up to 84 months, first 12 months interest-only. No application fee.
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%
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.
Applications must be sponsored by an NCA member, such as the LCIDA.
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, livestock 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 interest rate.
Fee: $100 Application Fee
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
Applications must be sponsored by an NCA member, such as the LCIDA
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 technologies, 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
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%
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.
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%
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.