Loans

Overview

Naturally Lewis is able to offer Lewis County Economic Development Loans through the Lewis County Industrial Development Agency. In addition to these, partner organizations offer loans for vaious purposes with unique elibibility and additional requirements. 

Lewis County Economic Development Loans

Lewis County Small Business Revolving Loan Fund

The Lewis County IDA has loan funds available for gap financing for small businesses in targeted industries. Loans up to $25,000 are available for equipment purchases, real estate purchases or working capital. Applicants must contribute 10-20% equity and have first approached a traditional lender to qualify.

Partner Organization Loans

Adirondack Economic Development Corp Loan Program

Program Description | Loan funds for business purposes except refinancing and down payments.


Funding | $100,000 maximum, or 40& of the project


Minimum Requirements | Owner equity: 10%-20%

Development Authority of the North Country Loan Program

Program Description | Loan fund for manufacturing, warehousing & distribution, industry, infrastructure, and selected agriculture projects.


Funding | Maximum of 50% of project costs.


Minimum Requirements | Owner equity of 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 investmenrs 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 maximum


Minimum Requirements | Manufacturing: 500 or less full-time employees; Service: 100 or less full-time employees; no start-up business and non-EZ business

North Country Alliance 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. Maximum of 40% of the project. 100 or fewer employees.


Minmium Requirements | Owner equity: 10% - 20%; Working capital: up to five (5) years; Fixed assets; up to 15 years


Applications must be sponsored by a NCA member, such as the Lewis County Industrial Development Agency.

North Country Alliance Working Capital Loan Program

Program Description | Loan funds to provide up to 90% of the total project financing.


Funding | $25,000 - $75,000 at 5% interest rate


Fee | $100 application fee


Applications must be sponsored by a NCA member, such as the Lewis County Industrial Development Agency.

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 production, manufacturing, processing, warehousing, distribution or sale of crops, livestock and livestock products.


Funding | Loans cannot exceed 40% of total project costs or $250,00; whichever is less. 3% prime interest rate.


Fee | $100 application fee