Revolving Loan Program

The Town of Plattsburgh Local Development Corporation, Inc. is interested in providing loans to businesses located within the Town of Plattsburgh to assist with the creation of new or the expansion of existing businesses. Loans will be made with the expectation that one new job will be created for each $15,000 loaned. Generally the maximum loans are $30,000 but the Board will consider larger amounts on an individual basis.

If your business can not obtain all the funds you are seeking from a financial institution and are looking for other sources to fill the “gap,” we may be able to help. As a non-profit with the sole directive of job creation, we may be able to provide the funding which the borrower is requesting.

We have partnered with the Adirondack Economic Development Corporation in Saranac Lake who acts as our underwriter. Applications are made to the AEDC who evaluates each and makes recommendations to our Board. The AEDC also makes economic development loans and partners with other not-for-profit economic development agencies.

Should you want more information about our program or wish to obtain application materials, contact the Adirondack Economic Development Corporation at (518) 891-5523.