Available Loan Funds - NCREDC

NCREDC Available Loan Funds

The Development Authority of the North Country currently administers two loan funds awarded through the CFA process.

The North Country Community Tourism Transformation Fund

This fund was created to assist in furthering tourism-related development projects that will have a transformational impact on North Country communities. Eligible projects are those with a priority that enhance the quality and quantity of lodging in the region, and supporting tourism-related facilities which enhance the region's quality of life; attract more visitors or residents to the region; and serve as leverage for attracting private investment into the region.

  • Available to businesses in Jefferson, Lewis, St. Lawrence, Clinton, Essex, Franklin and Hamilton Counties;
  • Maximum loan amount is $250,000;
  • Loans cannot exceed 20% of total project costs;
  • Interest rate fixed at 1%;
  • MWBE goals and labor peace (new hotel construction) apply.

Click here to download the program description and application. For more information contact Michelle Capone at mcapone@danc.org.


The North Country Digital Film Projector Conversion Fund

This fund was created to assist community movie theaters to purchase digital film projectors in order to convert to digital film. The program will sunset upon commitment of the funds. Funds may be used to bridge fundraising efforts to purchase digital film projectors.

  • Available to businesses in Jefferson, Lewis, St. Lawrence, Clinton, Essex, Franklin and Hamilton Counties;
  • Maximum loan amount is $50,000;
  • Loans cannot exceed 50% of total project cost;
  • Interest rate fixed at 1%;
  • Flexible repayment options.

Click here to download the program description and application. For more information contact Michelle Capone at mcapone@danc.org.


The North Country Value Added Agriculture Fund

This program was created in 2014 with funding through the North Country Regional Economic Development Council to improve productivity and crop yields to increase the availability of value-added agriculture products to market.

  • Available to individual, farm or business with 100 employees or less located in Jefferson, Lewis, St. Lawrence, Clinton, Essex, Franklin and Hamilton Counties;
  • Maximum loan amount is $250,000, or 40% of the total project cost, whichever is less;
  • Interest rate is equal to the greater of one-half of the Wall Street Journal Prime Interest Rate, or 3%, whichever is higher at the loan closing;
  • MWBE goals for the purchase of goods and services with loan funds applies.

Click here to download the program description. For more information contact Michelle Capone at mcapone@danc.org.

The North Country Redevelopment Fund

This program was created to assist projects that remove blight and result in the transformation of communities in the North Country.

  • Available to for-profit businesses, municipalities, economic development organizations, and not-for-profit development organizations located in Jefferson, Lewis, St. Lawrence, Franklin, Clinton, Essex and Hamilton Counties.
  • This is a combination grant/loan program. The maximum request per project is $500,000; loans cannot exceed $250,000 and grants cannot exceed $250,000 without Empire State Development approval. The grant/loan combination will always be 50% loan/50% grant.
  • Interest rate is fixed at 1%.
  • Term for machinery and equipment up to 10 years; term for real estate up to 20 years
  • MWBE goals for the purchase of goods and services with loan funds applies.

For more information contact Michelle Capone at mcapone@danc.org.

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