Learn more about the Microenterprise Program

Board Members

BRIAN W. STAPLES – Chairman
Brian W. Staples, CPA

ERNEST LABAFF – Vice Chairman
President, (Emeritus) Aluminum Brick & Glass Workers International

LYNN BLEVINS – Secretary
Blevins Brothers, Inc.

MARK C. HALL
Town of Fine, New York

ANDREW MCMAHON
Massena Electric Department

JOHN BURKE
St. Lawrence County Board of Legislators

R. JOSEPH WEEKES, JR.
Weekes Agency

Officers

Officers:

Patrick J.Kelly
Chief Executive Officer

Thomas A. Plastino
Deputy Chief Executive Officer

Kimberly A. Gilbert
Chief Financial Officer

Our Mission

The mission of the St. Lawrence County Local Development Corporation is to increase adequately remunerated employment in St. Lawrence County; support existing microenterprises and the creation of new microenterprises; instruct and train individuals to develop and/or enhance their entrepreneurial and work skills; conduct research to identify new microenterprise opportunities and support the development of these opportunities; act in the public interest and lessen the burdens on governmenta; and administer the St. Lawrence County Local Development Corporation’s loan and grant programs.

The St. Lawrence County Local Development Corporation is devoted to encouraging the economic advancement of St. Lawrence County’s low-moderate income citizens and the preparation of citizens for business ownership through the responsible provision of financial products, training, technical assistance and support to new and expanding microenterprises.

Enabling Legislation:
Certificate of Incorporation

Microenterprise Loan Fund and Grant Program

The St. Lawrence County Local Development Corporation was established in 1977.  Through its Microenterprise Grant and Loan programs, the Corporation provides financing assistance to low-moderate income persons in St. Lawrence County to start or expand their microenterprise businesses (i.e. businesses with five or fewer employees, one of whom is the owner). 

Loan Program

Grant Program

Current Availability:

Firms with 5 or fewer employees, at least one of whom is the owner.  All business types are eligible with the exception of restaurants, bars, taverns or similar establishments.
 

Financing Amount

Between $1,000 and $20,000

Between $5,000 and $35,000

Use of Funds

Machinery, equipment, property improvements and rehabilitation, and some working capital

Machinery, equipment, and some working capital

Rates and Terms

Interest rate determined on a case-by-case basis.  Terms will generally be 3 years for working capital, 5 years for machinery and equipment, and 10 years for property improvements.

n/a

Equity Participation

Equity requirements are determined on a project-by-project basis.  Loans over $8,000 require a 50% contribution from the applicant in the form of equity, loans, 3rdparty investments, or other sources.

A minimum of 10% owner equity is required.

Bank Participation

Completion of entrepreneurial training or program assistance through the NYS Small Business Development Center.

Lending from conventional lending institutions is encouraged.  The program can also be used in conjunction with the Corporation’s Loan Program.

Training

Applicants are required to complete, at a minimum, the My Small Business 101course offered by the Entrepreneurship Center at Clarkson University. (Contact the Entrepreneurship Center directly)

Grant Program

Application Considerations

The purpose of this program is to provide financial assistance to low-moderate income persons in St. Lawrence County to start or expand microenterprise businesses.  As such, the primary goal of the program is to stimulate the inception and growth of private-sector businesses owned and operated by low-moderate income persons, or that create new jobs for such persons.

Fees

There is no application fee, but the applicant is responsible to pay all closing costs.

Review Process

The review process should take no longer than 8 weeks are submission of the completed application.

IDA staff can provide prospective applicants with assistance on program eligibility screening, application information and appropriate referral for business plan development.