Objective

The RRLTF offers working capital loans to small businesses of up to $100,000 or 90% of the total project cost, whichever is less.

Loan terms, interest rates and collateral requirements are determined by the administering corporations and their loan committees.  

Overview

Empire State Development (ESD) has capitalized Regional Revolving Loan Trust Fund (RRLTF) programs operated by regional not-for-profit organizations in New York State for the purpose of making working capital loans to small businesses located within New York state that generate economic growth and job creation and are unable to obtain adequate credit or adequate terms from commercial lenders.

Eligibility

Priority is given to projects which:

• Create or retain jobs
• Are located in distressed areas
• Are owned by minority or women entrepreneurs or firms which employ minorities, women or displaced workers
• Leverage other public and or private dollars

How to Apply

Application Process
The organizations which manage RRLTF programs conduct their own loan fund marketing, intake, applicant screening, credit analysis, closings and loan servicing.  A written business plan, business and personal financial statements and financial projections are required of all applicants.

Contact Information
If you require loan assistance, please contact the administering corporation nearest you: 

CAPITAL REGION
Community Loan Fund of the Capital Region
Linda MacFarlane, Executive Director
255 Orange Street, Suite #103
Albany, NY 12210
Tel: (518) 436-8586
Website: mycommunityloanfund.org
Email: [email protected]

CENTRAL NEW YORK REGION
Central New York Regional Planning & Development Board
Mr. Michael Rosanio, Loan Manager
126 North Salina Street
100 Clinton Square, Suite 200
Syracuse, NY 13202
Tel: (315) 422-5473         
Website: www.cnyrpdb.org
Email: [email protected]

Cooperative Federal
Meagan Weatherby, Development & Communications Manager
800 North Salina Street
Syracuse, NY 13208
Tel: (315) 473-0206
Website: www.cooperativefederal.org
Email: [email protected]

FINGER LAKES REGION
Excelsior Growth Fund, Inc.
Brad Seader, Assistant Vice President
50 Beaver Street
Albany, NY 12207
Tel: (212) 785-5702
Website: www.excelsiorgrowthfund.org 
Email: [email protected]

LONG ISLAND REGION
Excelsior Growth Fund, Inc.
Brad Seader, Assistant Vice President
50 Beaver Street
Albany, NY 12207
Tel: (212) 785-5702
Website: www.excelsiorgrowthfund.org
Email: [email protected]

MID-HUDSON REGION
Community Capital New York, Inc.
Carol Danziger, Finance Director
44 Executive Boulevard
Elmsford, NY 10523
Tel: (914) 747-8020
Website: communitycapitalny.org
Email: [email protected]

MOHAWK VALLEY REGION
Mohawk Valley Rehabilitation Corporation
Stephen R. Smith, Executive Director
26 West Main Street - PO Box 69
Mohawk, NY 13407
Tel: (315) 866-4671         
Website: mvedd.org/funding-sources
Email: [email protected]

Community Loan Fund of the Capital Region
Linda MacFarlane, Executive Director
255 Orange Street, Suite #103
Albany, NY 12210
Tel: (518) 436-8586
Website: mycommunityloanfund.org
Email: [email protected]

NEW YORK CITY
Renaissance Economic Development Corp.
Jessie Lee, Managing Director
2 Allen Street, 7th Floor
New York, NY 10002
Tel: (212) 964-6022
Website: renaissance-ny.org
Email: [email protected]

NORTH COUNTRY REGION
The North Country Alliance Development c/o the Development Authority of North Country
Ms. Michelle Capone, Program Manager
317 Washington Street
Watertown, NY 13601
Tel: (315) 785-2593
Website: www.danc.org
Email: [email protected]

SOUTHERN TIER REGION
Southern Tier Region Economic Development Corporation
George Miner, Executive Director
REDEC Relending Corporation
8 Denison Parkway, E.  3rd Floor-Suite 403
Corning, NY  14830
Tel: (607) 962-3021
Website: www.redec.us
Email: [email protected]

WESTERN NEW YORK REGION
Southern Tier Enterprise Development Organization
Halley Kottwitz, STEDO Administrator
4039 Route 219, Suite 200
Salamanca, NY 14779
Tel: (716) 945-5301 ext. 2207
Website: www.southerntierwest.org
Email: [email protected]

The Western Region Corporation
Mr. Richard Zinc, Executive Director
275 Oak Street
Buffalo, NY 14203
Tel: (716) 856-6525
Website: westernregioncorp.org
Email: [email protected]

For Lenders

If your organization is interested in becoming a participating lender in the Regional Revolving Loan Trust Fund program, please register for the NYS Contract Reporter in order to receive a notification when the funding opportunity becomes available.