Financial Resources for Small Business Owners
The Indian Lake Community Development Corporation (ILCDC) is dedicated to commercial and residential revitalization and growth in the Town of Indian Lake. Small business owners and aspiring entrepreneurs need to know how to develop a business plan and also where and how to apply for financial assistance to start and to expand their businesses. Below is a list of resources, please contact any or all that may apply to your project.
U.S. Small Business Administration (SBA)
Daniel Rickman, Branch Manager (518) 446-1118,
The U.S Small Business Administration (SBA) is the federal agency responsible for helping small businesses start and grow. SBA’s programs increase access to capital to small businesses and provide comprehensive technical assistance to businesses of all types and stages of growth, from startups to well-established companies.
Adirondack Economic Development Corporation
Jim Murphy, Executive Director (518) 891-5523 x101,
The Adirondack Economic Development Corporation (AEDC) provides the four pillars needed to support local entrepreneurship – one-on-one technical assistance, entrepreneurial training, business financing and peer-to-peer networking. Currently AEDC manages micro-loan programs available for start-ups and fledgling enterprises, with loans ranging from $500 – $50,000. These loans are for the purchase of business machinery and equipment, renovations and additions to facilities, inventory purchases and working capital. Total project cannot exceed $150,000.
Hamilton County Industrial Development Agency
Christy Wilt, Executive Director (518) 548-3078,
Currently there is a revolving loan fund, in amounts from $2.5k and up with at rates from 2-3%. Eligible use of funds include capital expenses, inventory working capital, equipment, inventory, furnishings and other justifiable business purposes. Funds are available for new or existing businesses. The IDA offers assistance that traditional banks cannot which include lower interest rates, bridge loans/gap financing, low to moderate income level applicants, and consideration for a variety of non-traditional projects and for creative projects that create or sustain jobs.
SUNY Canton Small Business Development Center at Clinton Community College
Tony Searing – Business Advisor (518) 324-7232,
The North Country Small Business Development Center (SBDC) is part of a network of 24 regional centers in the State of the New York. The SBDC delivers high quality business counseling and training to New Yorkers who want to start a business or improve the performance of an existing business. These activities are accomplished by delivering professional business advisement, education, network resources and industry standard practices to businesses, one business at a time. Thanks to the agency’s partners in the public and private sectors, all services are free of charge and completely confidential.
Community Bank NA
Brenda Lanphear, Bank Officer/Branch Manager Indian Lake Branch (518) 648-5711,
Community Bank offers a wide range of comprehensive loan packages and financial services including loans and leasing, Business Checking, Business Debit Cards, Business Online Banking, Business Credit Cards and Merchant Services.
Town of Indian Lake Revolving Loan
Brenda Lanphear, Committee Member, (518) 648-5711,
The Indian Lake Revolving Loan Committee grants funding to high risk business’s who are located within the Town of Indian Lake. The loan committee requires the applicant to produce a declination letter from a bank or other financial institution. The loan committee allows high risk business owners an alternative funding source and prioritizes requests for funding based on job creation.
John Gitto, Store Manager, Assistant Store Manager, Francine Buser, (518)
TD Bank offers a wide range of products and services for the small business owner. Whether the applicant is a healthcare professional or looking for a Small Business Administration loan, the bank offers several lending solutions. TD Bank also offers business customers flexible financing options and useful tools and resources to help grow their business. The application process and required documentation will be reviewed.
Development Authority of the North Country (DANC)
Michelle Capone, Director of Regional Development, (315) 661-3200, email@example.com
Development Authority of the North Country (DANC) offers funding for projects with a priority that enhance the quality and quantity of lodging in the region and support tourism-related facilities. These tourism facilities must 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.
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