Areas Served: City of Schenectady
Schenectady Local Development Corporation administers a revolving loan fund for small businesses located in the City of Schenectady, New York.
Businesses are eligible for the loans by creating jobs for low or moderate-income persons, or by serving a residential area of low or moderate-income persons.
The SLDC also has a special loan program targeting low or moderate-income persons who want to start their own businesses.
The SLDC finances loans up to $50,000 below market rates with flexible terms; the average loan is approximately $20,000. SLDC staff is experienced with business financing and can package loans to incorporate banking and/or Small Business Administration financing to reach the total funding available to the business.
Use of funds: – Machinery and/or equipment – Real property acquisition – Inventory purchase – Working capital Available for these business types: – Retail – Wholesale Service – Manufacturing Application procedure is submission of a written business plan, which encompasses: – Organization, ownership and management – Description of business – Business History – Products and/or Services – Customer base – Market – Marketing plan – Financial information
Contact InformationSchenectady Local Development Corporation
Address: City Hall Rm 14
City: Schenectady
State: New York
Website:
http://www.schenectadychamber.org/business_in_schenectady/subpage.cfm?ID=20
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