| Objectives | Eligibility | Use of Funds | Terms & Loan Conditions | |
|---|---|---|---|---|
| City of Poughkeepsie Economic Dev. Loan Fund | Job creation |
Industrial/commercial/retail |
Fixed assets |
$50,000 maximum |
| City of Poughkeepsie Façade Grant | Economic Development |
City of Poughkeepsie Commercial Properties | Façade improvement: |
Max grant: $5,000 |
| City of Poughkeepsie New Business Retail Rental Subsidy Grant | Economic Development |
New qualified retail and service tennants in the main street corridor | N/A | Rent subsidy grant matches to lessor's reduction of rent from fair asking price for first floor leased space up to 1000 SF; $3/sf year 1, $2/sf year 2, $1/sf year 3. |
| City of Poughkeepsie UDAG Loan | Job creation, achieve strategic development goals | Generally larger projects resulting in substantial investment and benefit to the City | Real estate and equipment. Gap financing | Amount and term depend on need and financial capacity of applicant |
| NY Business Development Corp | Employment Economic development |
Industrial/commercial/retail Start-up & existing |
Fixed assets/working capital Renovations Restructure debt Leveraged buy-outs |
Loan range: $100,000 to $1m Variable terms (5 to 15 yrs) (SBA 504 long term) Interest rate: prime + 2% or fixed & tied to treasury |
| NYS Linked Deposit | Job creation Improve competitiveness Modernization New technology |
Manufacturing < 500 employees Service < 100 employees Export < 100 employees |
Equipment Marketing Modernization |
Loan range: up to $1m 2-year duration Interest rate subsidies |
| Statewide Zone Capital Corp | Businenss development within Empire Zone | EZ certified businesses Approval by EZ Administrative Board Industrial commercial |
Fixed assets Operating capital |
Loan range: $30,00 - $300,000 terms: 5% for 3 years 6% thereafter |
| Small Business Technology Investment Fund | Seed or growth capital Venture capital |
Technology to develop high-tech products Patents |
Production development Manufacturing ramp-up Expansion New product introduction |
Loan range: up to $500,000 Matching funds (% depends on product stage) equity/convertible debt Loans with warranty |
| NYS Job Development Authority | Manufacturing growth Job creation: 1 job/$35,000 interest penalties if goals not achieved |
Industrial/commercial/service | Fixed assets Modernization Machinery & equipment |
|
| Statewide Zone Capital Corporation of New York (SZCC) | Job creation/retention | Zone certified Commercial |
Fixed assets Working capital Equipment & real estate |
Loan range: $30,000-$300,000, up to 50% of project Equity up to 25% 10% equity required of developer Interest rate: fixed or floating rate available 3-15 yr term |
| Business & Industry Loan Guarantees | Job creation Ec. development for rural businesses |
All areas except cities of more than 50,000 & their immediately adjacent urban areas | Acquisition Start up Expansion |
Lender & borrower negotiate terms within max terms allowed by USDA Interest rate set by lender, fixed or variable |
| Water & Waste Disposal Loan Guarantees | Providing infrastructure for rural areas | Rural area and places w/ up to 10,000 population | Land and building Equipment Working capital & infrastructure |
Not eligible for grant |
| Community Facilities Guaranteed Loan | Provide financial aid through direct & guaranteed loans | Non-profit & cooperative associations Public bodies & other utilities |
Real estate & equipment Working capital Infrastructure |
Interest rates in accordance w/ 7CFR 17145 |
| SBA (504) Loan Program | Provide growing businesses w/long term fixed rate financing | Operating businesses for profit Within size standards of SBA |
Real estate and equipment | Increment above the current market rate for 5 years 10-20 yr terms |
| SBA 7a Loan Guarantee Program | Provide loans to small businesses unable to secure financing through noraml lending channels | Start-up and existing Industrial, commercial, retail |
Real estate & equipment Working capital Leasehold improvements Inventory |
Max loan amount of $2 million Max SBA can guarantee is $1 million Max guarantee range is 75-85% |