Business Development

Community Development Loan Fund

The Community Development Loan Fund provides financing to businesses in Jefferson, Lewis, and St. Lawrence Counties, with priority given to projects of regional significance to the North Country.  The loan fund targets projects that positively affect the region or enhance particular business sectors. 

• Eligible activities include manufacturing, warehousing and distribution, industrial reuse, downtown/commercial revitalization, infrastructure, tourism, healthcare, telecommunication facilities, agri-business and selected agricultural projects.
• Funds may be used for real estate, improvements, machinery and equipment, furniture and fixtures, inventory and working capital.
• Funding is targeted at the lesser of $250,000 or 40% of the total project cost; requests, however may be considered on a case-by-case basis.
• The interest rate is targeted at Prime minus 2 with a floor of 4% adjusted every 5 years; however will be reviewed on a case-by-case basis.
• The term of the loan is 5 years for working capital and varies depending upon the useful life of the assets being financed.

 For more information on the Community Development Loan Fund, or for an application, please contact Michelle Capone at mcapone@danc.org.

Farmland Drainage Loan Program

Created in 2000, the Farmland Drainage Loan Program provides low-interest loans to farmers in Jefferson, Lewis and St. Lawrence Counties to install tile drainage in order to increase crop production yields.  To be eligible for the program, farming must be the applicant's primary business.  Land to be drained should presently be productive farmland that with drainage would improve crop production yields.

• Maximum loan amount is $20,000;
• Borrower must contribute at least 50% of the loan amount, or at a maximum $10,000;
• Term is 5 years;
• Interest rate is one-half of Prime at loan closing with a floor of 3%.

 Click here to download the program description and application.  For additional information contact Matthew Siver at msiver@danc.org.

Value-Added Agriculture Program

Created in 2011, the Value-Added Agriculture Program establishes the Maple Syrup Producers Demonstration Program created to increase the production of maple syrup for sale in regional markets.  The program is open to individuals and businesses located in Jefferson, Lewis and St. Lawrence Counties.

• Maximum loan amount is $40,000;
• Borrower must contribute at least 20% of the loan amout, or a maximum of $8,000;
• Term is 5 years;
• Interest rate is one-half of Prime at loan closing with a floor of 3%.

Click here to download the program description and application.  For additional information contact Matthew Siver at msiver@danc.org.

North Country Alliance Regional Revolving Loan Fund

The Development Authority of the North Country provides staffing for the North Country Alliance's Regional Revolving Loan Fund.  The North Country Alliance is a not-for-profit local development corporation comprised of public and private sector businesses and organizations focused on the economic well-being of Jefferson, Lewis, St. Lawrence, Franklin, Clinton and Essex Counties.  The organization is focused on creating opportunities for business expansion and job growth in the region and uses it regional revolving loan fund to accomplish this.

Click here to download information on the NCA loan program, or for more information contact Matthew Siver at msiver@danc.org.

Underwriting Services and Technical Assistance

Development Authority staff provides loan underwriting services to the Greater Massena Economic Development Fund, the St. Lawrence County Industrial Development Agency Local Development Corporation, the St. Lawrence County Local Development Corporation, the Town of Gouverneur, and the Lewis County Local Development Corporation.  In addition, our staff provides technical assistance and advises organizations like the Lewis County Local Development Corporation, Carthage Industrial Development Corporation, and the Clayton Local Development Corporation, among others, on community development issues like downtown revitalization, brownfield redevelopment/reuse, and business assistance programs, to name a few.