Areas Served: City of Glens Falls
The primary objectives of the revolving Loan Program 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, New York; 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; to leverage the greatest level of private funds possible; and to manage the loan fund in a manner that results in an increasing loan pool.
ELIGIBLE USES OF FUNDS AND LOAN TERMS – Purchase of capital equipment: Useful life of equipment or 5-7 years, whichever is less.
– Renovations and/or additions: Up to 10 years – Acquisition and/or new construction: Up to 15 years – Inventory: Up to 2 years – Working capital: Up to 2 years Loan Amount – Up to $250,000
Contact Information
Greater Glens Falls Local Development Corporation
Address: 42 Ridge Street
City: Glens Falls
State: New York
Website:
https://warrencountyny.gov/LDC
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