Regional Revolving Loan Trust Fund Program (RRLTF)

Objective

The RRLTF offers working capital loans to small businesses of up to $75,000 or 50% of the total project cost, whichever is less, and working capital loan guarantees of up to 80% of the loan amount, not to exceed $80,000.  
 
Loan terms, interest rates and collateral requirements are determined by the administering corporations and their loan committees.  

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Overview

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 and loan guarantees 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: 

MID-HUDSON REGION
Orange County Chamber of Commerce

Casey Meier
30 Scott' s Corner Drive
Montgomery NY 12549
Tel: (845) 457-9700
Website: www.orangeny.org
Email: caseym@orangeny.org

Service areas: Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester counties

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: info@danc.org
Service areas: Clinton, Franklin, Jefferson, Lewis, Essex, and St. Lawrence counties

MOHAWK VALLEY REGION
Mohawk Valley Rehabilitation Corporation (MORECO)

Joseph Caruso, Executive Director
26 West Main Street - PO Box 69
Mohawk, NY 13407
Tel: (315) 866-4671
Fax: (315) 866-9862
Website: www.mvedd.org
Email: mvedd@twcny.rr.com
Service areas: Fulton, Herkimer, Montgomery, Oneida, Hamilton, and Schoharie counties

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
Fax: (315) 422-9051
Website: www.cnyrpdb.org
Email: mail@cnyrpdb.org
Service areas: Cayuga, Cortland, Madison, Onondaga, and Oswego counties

SOUTHERN TIER REGION
Southern Tier Region Economic Development Corporation & Tier Info and Resources Inc.

Ms. Diane Lantz, Executive Director
REDEC Relending Corporation
8 Denison Parkway, E. 3rd Floor-Suite 403
Corning, NY 14830
Tel: (607) 962-3021
Website: n/a
Email: n/a
Service areas: Broome, Chemung, Chenango, Delaware, Oswego, Schuyler, Steuben, Tioga and Tompkins counties

WESTERN NEW YORK REGION
The Western Region Corporation

Mr. Richard Zinc
275 Oak Street
Buffalo, NY 14203
Tel: (716)-856-6525
Website: n/a
Email: n/a
Service areas: Niagara, Erie, Chautauqua, Cattaraugus and Allegany counties