Areas Served: Delaware County
The Department of Economic Development develops and administers a number of low interest loan programs designed to meet the needs of Delaware County, New York businesses.
The loans will be distributed through the Delaware County IDA or LDC and may be used for any business purpose including; acquisition, construction/renovation, equipment and working capital.
In general, loans will be provided at a five (5%) interest rate.
The Department of Economic Development will provide potential loan applicants with one-on-one assistance in completing the application process, including, but not limited to, the preparation of a business plan, financial statements, cash flow analyses, etc.
It is not necessary for a loan applicant to know or identify the specific loan program they wish to utilize.
We will identify the program best suited to meet the specific needs of your business.
The following summarys provide a brief overview of the County’s low-interest loan programs.
Micro Enterprise Loan Fund This program is designed specifically for micro enterprise businesses businesses with five or fewer employees, including the owner(s).
Low interest loans are available to new and existing micro enterprise businesses that locate or expand within Delaware County.
Loans of up to $50,000 are available to help finance business expansions or start-ups that will result in the creation or retention of jobs.
RBEG Loan Fund The RBEG Loan Funds are available to new or existing Delaware County businesses with fifty (50) or fewer employees.
This program is designed to encourage and facilitate the continued development of local small businesses, thereby providing new job opportunities for the residents of Delaware County.
Loans of up to $100,000 are available through this program.
IRP Loan Fund The IRP program is targeted to new and existing businesses located in Delaware County that are making a major investment in their business and creating a significant number of new, full-time jobs.
This program does not have any restrictions regarding the size of the business and seeks to provide loans of a minimum of $100,000. Applications for lesser amounts will be considered where merited.
This program places an increased emphasis on the credit worthiness of businesses participating in this program, as well as the sufficiency of the collateral securing the loan.
Contact InformationDelaware County Department of Economic Development
Address: One Courthouse Square, Suite 4
City: Delhi
State: New York
Website:
http://www.dcecodev.com/index.php/financial-assistance/
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