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ROCHESTER FINGER LAKES REGIONAL DEVELOPMENT CORP.
55 St. Paul St.
Rochester, N.Y. 14604
454-2530

Local person in charge: Ellen Scalzo, executive director
Year established locally: 1991

Types of direct financing available:
Short-term, low-interest loans up to $75,000 for working capital; loan guarantees up to $85,000 for working capital; loans for start-up businesses available

REVOLVING LOAN FUNDS
Total amount of revolving loan fund: $750,000
Dollar range of loans available from fund: $10,000-$75,000
Data required for loan application: Business plan, financial statements for business and individuals applying for loan
Borrower eligibility requirements: 50% equity of total business plan; matching funds from county or federal agency (total loan: 50% owner equity, 25% RDC Loan Fund, 25% local government/private agency)
Average length of time to obtain a loan (from application to final approval): 6 to 8 weeks
Preferred industries for this program: Manufacturing, service-related (no retail businesses)

RURAL OPPORTUNITIES INC.
Suite 401
339 East Ave.
Rochester, N.Y. 14604
546-6325, ext.352

Local person in charge: Joan Dallis, deputy for economic development
Year established locally: 1969

Types of direct financing available: Working capital, machinery, equipment

REVOLVING LOAN FUNDS
Total amount of revolving loan fund: $1.5 million
Data required for loan application: Business plan, business and personal financial statements, use-of-funds statements
Borrower eligibility requirements: Varies
Average length of time to obtain a loan (from application to final approval): Varies
Preferred industries for this program: Rural businesses

U.S. SMALL BUSINESS ADMINISTRATION
Room 410
100 State St.
Rochester, N.Y. 14614
263-6700

Local person in charge: Peter Flihan, manager
Year established locally: 1971

Types of indirect financing available: Guaranty lending with SBA’s share of loan not to exceed $750,000

LOAN PROGRAMS
Types available: Working Capital Loan Program, Guaranteed Business Loan, Export Revolving Line of Credit, Microloan Program, Seasonal Line of Credit Program, Small General Contractor Loan, Contract Loan Program
Data required for loan application: Financial information: current statements and prior 3 years, personal financial statement, list of owners, personal guaranties, business plan
Borrower eligibility requirements: Must be of good character and have the ability to repay the loan, good management ability, equity investment from the principal(s); no non-profit organization
Average length of time to obtain a loan (from application to final approval): 3 to 10 business days
Preferred industries for this program: None

CONTACTS
Victoria Reynolds, loan officer (263- 6700); Peter Flihan, loan officer (263- 6700)

URBAN LEAGUE OF ROCHESTER
215 Tremont St.
Rochester, N.Y. 14605
436-4377

Local person in charge: Bonnie Flagg
Year established locally: 1993 (fund established)

Types of direct financing available: Fixed assets, working capital, land acquisition, building acquisition, equipment purchase, renovation or expansion, accounts receivable financing

REVOLVING LOAN FUNDS
Total amount of revolving loan fund: $200,000
Dollar range of loans available from fund: $5,000 to $50,000
Data required for loan application: Business plan, loan application form, project description, cash-flow projections, financial statements
Borrower eligibility requirements: All minority- and women-owned businesses are eligible to apply for the Minority and Women Revolving Loan Trust Fund
Average length of time to obtain a loan (from application to final approval): 60 to 90 days
Preferred industries for this program: None

WAYNE COUNTY ECONOMIC DEVELOPMENT CORP. AND WAYNE COUNTY INDUSTRIAL DEVELOPMENT AGENCY
16 William St.
Lyons, N.Y. 14489
315-946-5917

Local person in charge: Barbara Harper, administrator
Year established locally: 1969

Types of direct financing available: Revolving loan fund, microenterprise loan fund

Types of indirect financing available: Industrial infrastructure program

REVOLVING LOAN FUNDS
Number of revolving loan funds: 2
Total amount of revolving loan fund: 1) $845,000; 2) $400,000
Dollar range of loans available from fund: 1) based on availability; 2) $25,000 maximum
Data required for loan application: Application including historical financials, projections, cost estimates for 1) and 2)
Borrower eligibility requirements: 1) 20% of a project: 1 job for every $10,000 loaned; 2) creation of jobs
Average length of time to obtain a loan (from application to final approval): 1) 2 weeks; 2) 1 month
Preferred industries for this program: 1)Manufacturing; 2) open to all businesses, including start-ups

Other loan programs available: NYS Job Development Authority, regional revolving loan funds, industrial revenue bonds
Size of loans available: No minimum or maximum limit
Data required for application: Basically same as above
Eligibility requirements: Job creation
Length of application process: 1-3 months
Preferred industries for these programs: Generally manufacturing, microenterprise program; available to all businesses, including start-ups

CONTACTS
Barbara Harper, administrator (315-946- 5917); James Armstrong, assistant administrator (315-946-5917)

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