VILLAGE OF ARCADE

ECONOMIC DEVELOPMENT LOAN PROGRAM

The Village of Arcade is accepting applications from Village businesses for assistance under the Small Cities Economic Development Loan Program.  Under this program, the Village has resources to provide low interest loans on the basis of demonstrated need to promote economic development and job growth in the Village.

To date, the Village has approved loans totaling more than $467,552 to several Village businesses. Approximately, $166,000 is currently available for additional projects. Loan monies repaid to the Village will be utilized to establish a revolving loan fund for future business development.

Loan assistance may be provided for the acquisition of real property or equipment, building renovations, or working capital expenses.  Proposed projects must result in the creation of new jobs or the retention of existing jobs that would otherwise be lost. The loan program does not provide 100 percent financing and other financing and/or an equity contribution from the business owner is expected.

Interested business owners may obtain additional information from the Pam Beiersdorf, Village Clerk/Treasurer, Village Office at 17 Church St., Arcade, NY  14009 or by calling the Clerk at (585) 492-1111, Ext. 102.