North Country Alliance /
Regional Revolving Loan Trust
Fund
The North Country Alliance/Regional Revolving Loan Trust Fund (RRLTF) provides loans from $25,000 to $225,000 to eligible businesses for fixed assets and working capital ($75,000). The general terms of the loans are as follows: Working capital; up to 5 years. Fixed assets; up to 15 years. Each carry rates of 8% per annum. The NCA receives funding from Rural Development. Rural Development is an Equal Opportunity Lender. Complaints of Discrimination should be sent to: Secretary of Agriculture, Washington, D.C. 20250
Contact:
Michelle Capone at DANC : (315) 785-2593
Eligibility Criteria
1. Applications for the NCA/RRLTF must be developed in conjunction with an
NCA member organization loan packager.
2. Loans are limited to a maximum of 40% of total project costs.
3. Equity participation of at least 10%.
4. Business must have 100 or fewer employees.
5. Some retail businesses are eligible but must provide proof of newly created
employment opportunities.
6. Full collateralization required. Lien positions determined on a case-by-case
basis.
7. Federal/State environmental clearance must be obtained.
Nine (9) copies of the completed loan
application must be submitted 30 days prior to the Board meeting
which is typically meets the fourth Friday of each month.
