The North Country Alliance is a not-for-profit consortium of the twenty-seven Industrial Development Agencies, Local Development Corporations, and other agencies assisting business development in the North Country.

The NCA provides loans to businesses located throughout Jefferson, Lewis, St. Lawrence, Clinton, Essex, and Franklin Counties.

Eligible Applicants: Private for-profit and not-for-profit businesses with 100 or fewer full-time employees.

Loan Amount: Up to $225,000 or 40% of the project cost, whichever is less. Loan amounts typically do not exceed $150,000 unless there is significant job creation, retention, or community impact. The NCA requires a minimum equity injection of 10% into the project.

Terms: Fixed asset financing is available for up to 15 years; Working capital loans are available up to 5 years.

Interest Rates: Interest rates are fixed for the term of the loan at 1% below prime at date of closing.

Collateral: The NCA takes a subordinate position behind the bank, secured by business or personal assets. Personal guarantees are required.

Fees: The NCA requires that an application fee of $100 be submitted with the application. A commitment fee equal to the greater of $250 or 1/2% of the loan is due at closing.

 

The NCA is an equal opportunity provider and employer. Complaints of discrimination should be sent to: USDA, Director, Office of Civil Rights, 1400 Independence Ave. S.W., Washington, D.C. 20250-9410, or call (800) 795-3272 (voice) or (202)720-6382 (TDD)