Business Loans
5% fixed-rate loans for working capital and equipment
The Regional Development Corporation (RDC), is the lending arm of the Erie County Industrial Development Agency (ECIDA).
Qualified businesses in Erie County may apply for FIXED-RATE 5% interest loans up to $2 million, for uses including working capital, supplies, and equipment. Special terms are available for Minority and Women-owned Business Enterprises (MWBEs).
If your business is located in Erie County, find out which loan program might best fit your needs via email, or speak with a member of our experienced Business Development Team today at 716-856-6525, ext. 138.
RDC Smal Business Loans
Need help growing your business? The RDC offers business loans up to $2,000,000.
Loans are available only to businesses operating in Erie County, The RDC Business Loan program also supports underserved markets, including borrowers with little to no credit history, low income borrowers, and minority and women entrepreneurs in distressed rural and urban areas, who may not qualify for more conventional loans. MWBE businesses may qualify for special loan terms.
RDC Business Loans may be used for:
- permanent working capital
- machinery and equipment purchases
- pollution control improvements
- loans to effect changes is local ownership when the employment base of the company would otherwise be in jeopardy
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For a list of businesses that do *NOT* qualify, click here.
Download the RDC Business Loan brochure here.
For a PDF version of our Business Loan application, click here.
RDC SMALL BUSINESS LINE OF CREDIT
Download the RDC Line of Credit brochure here.
Qualified businesses in one of four industry categories may apply for a Line of Credit up to $100,000, with special terms for MWBEs:
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Commercial construction contractors
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Commercial building trades
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New York State licensed stand-alone day care centers
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Non-cannabis agribusiness
Lines of Credit qualified uses include working capital, inventory and supplies.
ERIE COUNTY MICROENTERPRISE LOAN PROGRAM
Click here for details about Erie County's 50/50 loan/grant program for qualified small businesses.
SUMITOMO EMPLOYEE LOAN FUND [SELF] PROGRAM
The RDC has created the Sumitomo Employee Loan Fund [SELF] fund to offer small business loans to qualified former Sumitomo employees who are interested in starting a business.
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For details, click here, or call 716-856-6525 ext. 138 to start the application process.
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For a list of businesses that do *NOT* qualify, click here.
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For a copy of the application, click here.
For more information about applying for a Business Loan, please email our Business Development Team, or call Andrew Federick, Business Development Officer, at 716-856-6525.
