Loan Programs

There are a number of local and regional loan programs to assist businesses grow. EDC can help connect you with the right program. We also work closely with many local lending institutions that offer a variety of commercial loans. EDC administers several revolving “gap financing” loan funds which works in tandem with local banks. Below is a list of the local programs- in addition, there are NYS funds offered which EDC can assist you with as well.

Economic Development Loan Fund (EDLF) – Warren County LDC
Eligible Entity:  Small businesses located in Warren County
Details:  Primary objectives of the Economic Development Loan Fund are to assist in the establishment and expansion of business activity within Warren County, create and stabilize employment opportunities in the County, and preserve and expand the County’s tax base.
For a copy of the application click here.

Greater Glens Falls LDC Revolving Loan Fund
Eligible Entity:  Small businesses and entrepreneurs located in City of Glens Falls
Details: GGFLDC objectives are to create and retain employment opportunities for persons of low-to-moderate income through the expansion or creation of new businesses in the City of Glens Falls; to retain existing employment opportunities; to increase municipal sales and property tax revenues; to provide assistance to projects that present growth potential; to provide assistance to maintain, establish or expand small business – especially in the Central Business District.
For a copy of the application click here.

Lake Champlain Lake George Regional Planning Board Revolving Loan Fund
Eligible Entity:  Small and medium sized businesses in LCLGRP district (Warren, Washington, Hamilton, Essex, Clinton counties)
Details:  Fixed asset loans for acquisition & improvement of land, buildings, plant & equipment; including new construction or renovation of existing facilities; Working Capital Loans for the start-up of new business or expansion of existing business.

Adirondack Economic Development Corp. Loan Program
Through the management of federal, state and private loan funds, AEDC has the flexibility to serve both existing businesses and start-ups in the Adirondack region.  With the current portfolio of ten loan funds, including SBA and USDA program dollars, AEDC can accommodate financing needs of up to $100,000 to assist businesses and entrepreneurs with:

  • working capital assistance
  • acquiring furniture, machinery and equipment
  • refinancing business debt
  • bridge financing

Given its success in revolving millions of dollars into the regional economy, AEDC remains at the forefront of making capital accessible to our region’s small enterprises.

AEDC Tourism Loan Program
Eligible Entity: Tourism related businesses within the Adirondack Park.
Details:   Loans ($25,000 – $100,000) for the purchase of Business Assets, Working Capital to Tourism Related Businesses.

Bolton Community Development Program Revolving Loan Fund
Eligible Entity: Manufacturing, industrial, wholesale, technology, service retain & non-retail commercial/service within Town of Bolton, NY
Details:  $5k minimum $250K maximum up to 30% of total project cost – min 20% cash equity contribution from borrower for the purchase of and improvements to fixed assets.

Community Loan Fund Capital Region – Micro Loan Fund
Eligible Entity:  Small businesses that are locally owned by persons of low-income (defined as below 80% of the area HUD median, adjusted for family size); or minorities (MBEs); or women (WBEs).
Details: Real property – acquisition or improvement Equipment or inventory Cash flow or working capital Energy-efficiency and green technology initiatives, improvements. Participation loans with other lenders are considered on a case-by-case basis. Other special products and programs are periodically available

Small Business Administration 504 Loan
Eligible Entity:  Small – Medium Business – Net worth of less than $8.5M and net profit of less than $3M (average over the last 2 years).
Details:  Land acquisition & improvements; building acquisition and/or construction; machinery & equipment.

Small Business Administration 7A Loan Guarantee
Eligible Entity:  Small Business
Details:  Purchase land or buildings for new construction and/or expansion, purchase of equipment, machinery, furniture, fixtures, supplies or materials; long-term working capital including the payment of AP and/or the purchase of inventory; short-term working capital including seasonal financing, contract performance, construction financing and export production.

NYS Linked Deposit Program
Eligible Entity:  Manufacturing with 500 or fewer employees, service businesses with 100 or fewer employees and companies located in highly distressed areas with 100 or fewer employees and businesses with a 100 or fewer employees undertaking a plan to increase the business’s export abilities
Details:  Link Deposit Program helps existing NYS firms obtain reduced-rate financing to undertake projects to improve competitiveness, market access and product development; modernize equipment and or expand facilitates for productivity growth; facilitate ownership transition; and promote job creation/retention

Job Development Authority (JDA) Direct Loan Program
Eligible Entity:  Facilities to be used for manufacturing, distribution, warehousing and certain service businesses are eligible for JDA loans.  Loans for retail facilities, which customers must personal visit in order to obtain the goods or services being sold, are not eligible.
Details: This program provides Direct Loans for the growth of manufacturing and other eligible businesses by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings or for purchasing machinery and equipment.

Credit for Success
Eligible Entity:  Small businesses who have been declined by its bank of account.
Details:  The loan funds may be used for refinancing, working capital and equipment purchases.  The small business must agree to seek business counseling from the Small Business Development Center serving the region, with the counseling substantially completed prior to the approval of the loan.