Business Development

Potsdam Specialty Paper Inc.

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.

Authority Value-Added Agriculture Program

Created in 2011, the Value-Added Agriculture Program was created to increase the availability of value-added products for retail consumption.  The program is open to individuals, farms 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 Transformational Tourism Community Loan Fund

This loan fund was founded in 2013 with $2 million from the North Country Regional Economic Development Council 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. 

North Country Value-Added Agriculture Loan 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.

North Country Digital Film Projector Conversion Fund

This loan fund was founded in 2013 with $400,000 from the North Country Regional Economic Development Council 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. 

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 St. Lawrence County Industrial Development Agency and the Town of Gouverneur.  In addition, our staff advises community organizations on development issues like downtown revitalization, brownfield redevelopment/reuse, and business assistance programs, to name a few.

Helping Businesses Grow

Potsdam Specialty Papers, Inc. received assistance from the Community Development Loan Fund and other local agencies to retain 77 jobs in St. Lawrence County that would have otherwise left the region.

Useful Links:

News & Press Releases

07/26/2016
Click HERE  to view report. [READ MORE]
07/26/2016
Click HERE to view the presentation. [READ MORE]
03/02/2016
Fort Drum Joint Land Use Presentation - Presented to the public on Wednesday,... [READ MORE]